Digital financial service provider Nagad has outlined a plan to carry out awareness-raising campaigns on safe digital transactions.
Nagad has come up with the initiative as the activities of some e-commerce platforms have created negative perceptions about digital financial services among the customers, an official of Nagad told the Daily Sun.
It has been learnt that hackers breached the system of Sirajganjshop, an e-commerce site, for making transactions illegally.
The state-run operator has become a victim of the hacking of the e-commerce site. As a result, Nagad is facing widespread criticism as the hackers have made transactions through Nagad accounts.
After that, Bangladesh Bank directed the Nagad to stop transactions of suspicious accounts with high volume.
Getting the directive, the Nagad suspended some 18,000 accounts. Later, some 15,000 accounts have been restored till September 19 after scanning the transactions.
Prime Minister Sheikh Hasina inaugurated Nagad in the first quarter of 2019 as the digital finance arm of the Bangladesh Post Office to meet the growing demand for mobile banking services in the country.
“The success of Nagad is making some people jealous. As a result, a group tried to run propaganda against the state-owned service in recent times. Nagad will respond by maintaining its growth trends,” Minister Mustafa Jabbar told the Daily Sun. Since its inception, Nagad has acquired 55 million customers with a daily average transaction of more than Tk 7 billion, official data shows.
Muhammad Zahidul Islam, head of public communication of Nagad, said they have been running awareness campaigns from the very beginning.
“The campaign will be run on a bigger scale in coming days. We hope this will create greater awareness on safe financial translations,” Zahidul said, terming Nagad as the most secured platform.
He said there are few things that the customers need to keep in mind for keeping their accounts safe from fraudulent activities. “Customers should never share their PIN or OTP and shouldn’t pay bills to any dubious vendors. We are a payment platform and if any customer makes payment to a shady vendor and get deceived--- we have a very minimum part to play over there,” Zahidul told the Daily Sun.
The official said Nagad has set a benchmark in the country’s digital banking sector by reducing the transaction fee to almost half compared to the fees charged by the competitors.