Meanwhile, Nagad introduced a quick account-opening process for its associated mobile phone subscribers. Therefore, Robi-Airtel and Teletalk users can already open Nagad account in two steps by simply dialing *167#. Consequently, setting up the PIN (personal identification number) and this takes only a few seconds.
To put it differently, potential users don’t need to visit agents with the national identification number and photographs to open an MFS account thorough this smart app. In other words, mobile phone operators already have their users registered with their NID and biometric authentication. In the same vein, Nagad fetches the same customer data for you to open the accounts. Not to mention, short-code is effortless comparing opening an account even on its app.
“Nagad’s customer numbers climbed after its tie-up with Robi-Airtel and Teletalk and it would get a massive boost once the opportunity for Grameenphone subscribers is officially inaugurated.”
– Muhammad Zahidul Islam
(A spokesperson for Nagad)
At this instant, Nagad is running a trial with Grameenphone. With this intention to roll out the simplest account-opening process within the next several weeks.
Important to realize, Bangladesh Bank report shows transactions through MFC were Tk 62,999 crore in July. Additionally, the number of active accounts rose 27.46% year-on-year to 4.27 crore in July. By the same token, Registered clients total 9.26 crore. Moreover, Grameenphone, the market leader, has 7.45 crore subscribers, Robi Axiata 4.8 crore, Banglalink 3.4 crore, and Teletalk 47 lakh.
To sum up, Nagad basically targeted a group of customers of 12 crores as potential users. On the other hand, the state’s largest mobile financial service provider bKash is on its way to initiate a similar process with Banglalink.