Nagad launches Bangla QR, joins network of 10 lakh merchants
The mobile financial service has also rolled out NPSB-based peer-to-peer (P2P) services, allowing customers to transfer money instantly between Nagad wallets, bank accounts and accounts maintained with other MFS operators.
Nagad, one of the country's leading mobile financial service (MFS) providers, today (25 June) launched Bangla QR payment services and introduced instant account-to-account fund transfers through the National Payment Switch Bangladesh (NPSB), expanding digital payment interoperability across the country.
With the integration, Nagad users can now make payments through nearly 10 lakh merchants connected to the Bangla QR network, while also transferring funds seamlessly between bank accounts and MFS providers.
To celebrate the launch, the Postal Department's digital financial service organised an event at the Banani Chairmanbari playground in Dhaka today. The programme was led by Nagad Administrator Md Motasem Billah and attended by members of the administrator team as well as more than 400 officials and employees of the company.
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Under the new arrangement, Nagad customers can pay merchants by scanning any Bangla QR code displayed at retail outlets, shopping malls, restaurants and local marketplaces across the country. The unified QR platform eliminates the need for separate QR codes for different banks and MFS providers, simplifying digital transactions for both consumers and businesses.
Merchants will no longer be required to display multiple QR codes to receive payments from customers using different financial institutions. A single Bangla QR code will enable instant payments from Nagad users, reducing operational complexity and encouraging wider adoption of digital payments.
Industry stakeholders say the initiative addresses a longstanding challenge in Bangladesh's digital payments landscape, where proprietary QR systems often limit interoperability and create confusion among users and merchants. The introduction of Bangla QR establishes a common platform for digital payments, making transactions faster, simpler, and more accessible.
Alongside Bangla QR, Nagad has also rolled out NPSB-based peer-to-peer (P2P) services, allowing customers to transfer money instantly between Nagad wallets, bank accounts and accounts maintained with other MFS operators.
The interoperability service enables users to send money from any bank account or MFS account directly to Nagad and vice versa, bridging the gap between traditional banking and mobile financial services.
According to Nagad, the combined introduction of Bangla QR and NPSB services is expected to reduce dependence on cash and accelerate the country's transition towards a digital economy.
Speaking at the event, Motasem said, "Bangla QR is a revolutionary milestone in making cashless transactions easier, safer, and more cost-effective for both consumers and businesses. Customers can now complete payments instantly through a single QR code, while small traders can easily become part of the digital payment ecosystem."
He said the unified QR architecture would play a key role in expanding financial inclusion and supporting the vision of a cashless Bangladesh.
Referring to the NPSB integration, Billah added that customers can now transfer funds instantly between Nagad, banks and other MFS providers at any time, reducing the need for physical visits to bank branches and enhancing convenience in daily financial transactions.
While interoperability among mobile financial service providers has long been discussed in the sector, Nagad's latest initiative significantly advances the goal of seamless connectivity across Bangladesh's digital financial ecosystem.
