Nagad wins Visa Excellence award-2023

DHAKA, Bangladesh, Oct. 2, 2023 /PRNewswire/ — Nagad, a popular mobile financial service provider based in Bangladesh, has scooped prestigious “Visa Excellence Awards 2023” for its remarkable contribution to boosting digital payments within the country.

Visa, a leading digital payment entity, recently recognised its partner Nagad in the category of “Excellence in CyberSource – Payouts” for its “Credit Card Bill Payment” and “Transfer Money to Visa Debit Card” products at the “Visa Leadership Conclave-2023”. The event – themed “Towards a Cashless, Smart Bangladesh” – took place at Sheraton Hotel in Dhaka.

On behalf of Nagad Ltd., its Executive Director Mohammad Aminul Haque, Chief Commercial Officer Md Shihab Uddin Chowdhury, and Head of Product Development Golam Jamil Ahmed proudly received the award.

Nagad is now working towards helping the country accelerate its digital transformation. The world’s fastest-growing fintech company’s move to launch the much-awaited digital bank bears evidence of its rigorous efforts in making cashless Bangladesh a reality.  

Founder and Managing Director of Nagad Ltd. Tanvir A Mishuk said, “It is an honour for us to have been recognised by our partner, VISA. Such acknowledgment serves as an inspiration for us to make bigger moves in terms of introducing more customer-centric products and services.”

Keeping in mind that the government targets to make 75 percent of transactions cashless by 2027, Nagad has already chalked up plans to bring in disruptive products and services tailored to the changing needs of our customers, thus accelerating our country’s digital transformation, he pointed out.

“We express our heartfelt gratitude to all our customers, regulators, and partners for their continued association with Nagad,” he added.

At this year’s annual conclave, Visa also recognised its other partners, including banks, fintech companies, merchants, and other members of the ecosystem – for their contribution to digital payments in Bangladesh.

Bangladesh Government’s Planning Minister MA Mannan, MP, graced the occasion as the chief guest, while Md Sharafat Ullah Khan, director of the Payment Systems Department at Bangladesh Bank, was the guest of honour at the programme. Soumya Basu, country manager in Bangladesh, Nepal, and Bhutan, Visa, also attended the event.

Mentionable, in 2022, Nagad, as the first MFS company in Bangladesh, was conferred with the “Excellence in Fintech Product Innovation 2022” award by Visa. 

The company has won many more local and international awards for its outstanding contribution to the expansion of Bangladesh’s financial market. Such accolades include WITSA Global ICT Excellence Award 2020, Inclusive Fintech 50, and Mastercard Excellence Award 2022 in two categories for digital innovations in Bangladesh’s financial industry.

About Nagad Ltd (

Nagad Limited is one of the leading MFS operators in Bangladesh’s payment industry with 80 million registered customers and an average daily transaction of about USD 112 million. The digital payment platform, known as a successful public-private partnership between Bangladesh Postal Department and the private sector, was inaugurated in 2019 by Prime Minister Sheikh Hasina of the people’s republic of Bangladesh.