Nagad
Nagad is a popular digital payment system that provides users with an easy and fast way to make financial transactions in Bangladesh. They can send and receive funds, pay for products and services, as well as transfer money between bank accounts and mobile numbers. An important feature is the absence of complex registration procedures and high fees, which makes this gateway accessible and attractive for both individuals and legal entities.
| Characteristic | Details |
|---|---|
| Regions | Bangladesh |
| Getting Started | Easy to connect, accessible via mobile app |
| Setup Fee | Free |
| Transaction fee | 5 BDT per transaction |
| Payment methods accepted | Mobile payments, MasterCard and Visa bank cards, USSD |
| Fraud & Risk management | High level of security, antifraud technologies |
| Accepted Currencies | Bangladeshi Taka (BDT) |
| Set up type | Mobile application |
| Onboarding & Approvals time | Several minutes |
| Recurring Billing | Supported |
| Charges on Refunds | 2% of the amount |
| SDK Stacks | Android, iOS |
| Settlement time | 1-2 business days |
| Payouts support | Available |
| Split payments | Supported |
| RegionsBangladesh | |
| Getting StartedEasy to connect, accessible via mobile app | |
| Setup FeeFree | |
| Transaction fee5 BDT per transaction | |
| Payment methods acceptedMobile payments, MasterCard and Visa bank cards, USSD | |
| Fraud & Risk managementHigh level of security, antifraud technologies | |
| Accepted CurrenciesBangladeshi Taka (BDT) | |
| Set up typeMobile application | |
| Onboarding & Approvals timeSeveral minutes | |
| Recurring BillingSupported | |
| Charges on Refunds2% of the amount | |
| SDK StacksAndroid, iOS | |
| Settlement time1-2 business days | |
| Payouts supportAvailable | |
| Split paymentsSupported |
Pros
- Convenience. Payments via the Nagad app are very fast and convenient. It works smoothly, the interface is intuitive.
- Low fees. Transaction fees are comparatively low, which is beneficial for merchants and physical clients.
- Security. Nagad implements risk management and security measures, making payments secure.
- Payment methods. The system supports payments via Visa and MasterCard bank cards, as well as some other popular methods.
- Easy return process. The refund process is usually hassle-free.
Cons
- Limited geography. Today, Nagad is only available in Bangladesh, which limits its use for international users.
- Not always perfect customer service. Users sometimes complain about difficulties with Nagad customer care. For example, it`s not always possible to contact support representatives immediately; waiting times on the line can be long.
- Limited business opportunities. For large merchants requiring integrations with multiple platforms and tools, Nagad apps may not provide all the opportunities they need.
Benefits Of Using Nagad
The main advantages is that you can make money transfers in just a few clicks directly from your mobile phone, which is especially important in today's fast-paced life. The gateway supports several payment methods, so it is easy to pay for products/services. It is also worth noting the automatic invoicing function, which allows to helps avoid missed payments and simplifies the process of financial management.
For businesses, Nagad offers the option of integration with other systems, which greatly simplifies the process of recording financial transactions. Additionally, the platform provides risk management and fraud protection features to ensure secure transactions. Ultimately, Nagad makes financial transactions easier and adds confidence in their safety.
Comparison of payments
Comparing several popular platforms by key characteristics, we see that Nagad has several significant advantages over other systems. Please note the differences in three important indicators: setup fee, annual fee, and commission per transaction.
| Paments gateway | Rate | Fee | Country | Currency | Website |
|---|---|---|---|---|---|
| 1000$ | Brazil | USD | |||
| 3000$ | India | USD |
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FAQ
How long does the Nagad registration process take?
Registration usually takes a few minutes. After that, you will have access to the functionality for making payments, and you will also be able to link your bank account or card for easy transactions.
What types of businesses can use Ngd?
Nagad is suitable for various types of businesses, from small startups to large companies. This gateway provides many options for integration with various platforms and sites, which is convenient for all types of commercial users.
Can Nagad be used for international transfers?
Nagad is primarily aimed at the Bangladeshi market. There are limited options for international transfers.
Is it possible to cancel a transaction using the Nagad transaction ID?
Yes, it is possible to cancel a transaction and get your money back, but only if it has not yet been processed. Otherwise, a return process will be required which may take several days.
Do I need additional software to work with Nagad?
Most operations with Nagad do not require additional software. However, if you want to integrate the system into a business platform, you may need an SDK and AMP for development.
