Nagad is a mobile financial services provider in Bangladesh that offers various services including merchant accounts. A merchant account allows businesses to accept payments from Nagad users. If you have a business in Bangladesh, opening a Nagad merchant account can be a great way to increase your sales and reach a larger customer base. Once your Nagad merchant account is approved, you will be able to accept payments from Nagad users using the Nagad app or Nagad POS device.
You can also use your Nagad merchant account to withdraw money from your bank account and send and receive money from other Nagad users. If you are interested in opening a Nagad merchant account, you can visit Nagad website or contact Nagad customer support for more information. So, Today in this article we will discuss about all details Information about How To Open Nagad Merchant Account.
What is a Nagad Merchant Account?
A Nagad merchant account is a digital financial service offered in Bangladesh that allows businesses and individuals to seamlessly conduct electronic transactions. Like a traditional bank account, it acts as a digital wallet for merchants, enabling them to accept payments from customers, pay suppliers and conduct various financial transactions without the need for Nagad .
Nagad, a mobile financial services provider, offers this convenient platform to empower businesses and entrepreneurs, especially in remote or disadvantaged areas, to participate in the digital economy. With a Nagad merchant account, users can receive payments from customers by scanning QR codes, mobile numbers or even generating payment links for online sales. This system promotes financial inclusion and accelerates the transition towards a cashless society in Bangladesh.
What documents are needed to open a Nagad Merchant Account?
To open a Nagad Merchant Account, you will need the following documents:
- A valid NID (National Identity Card)
- A valid trade license
- A bank account statement
- A mobile phone number
You may also be asked to provide additional documents, such as a business registration certificate or a utility bill, depending on the type of merchant account you are opening. To open a Nagad Merchant Account, you can visit the Nagad website or contact Nagad customer support.
How To Open Nagad Merchant Account? Step by Step
To open a Nagad Merchant Account, follow these steps:
- Go to Nagad website and click on “Open Merchant Account” button.
- Enter your personal information, such as your name, address and phone number.
- Select the type of merchant account you wish to open.
- Provide your business information, such as your business name, address and website.
- Upload the required documents, such as your NID and trade license.
- Review and submit your application.
- Nagad will review your application and contact you if you are approved.
Once your Nagad merchant account is approved, you will be able to accept payments from Nagad users using the Nagad app or Nagad POS device. You can also use your Nagad merchant account to withdraw money from your bank account and send and receive money from other Nagad users. You can also use Nagad Merchant Portal to generate QR codes for your business. Customers can scan these QR codes through the Nagad app to pay at your business.
Benefits of Nagad Merchant Account
Here are some benefits of opening a Nagad merchant account:
- Increase your sales: Nagad is a popular mobile financial service in Bangladesh, and opening a Nagad merchant account allows you to accept payments from a larger customer base.
- Reduce your costs: Nagad offers competitive transaction fees, so you can save money on payment processing costs.
- Get paid faster: Nagad payments are processed instantly, so you get your money faster than traditional payment methods.
- Improve your customer experience: Nagad is a convenient and easy-to-use payment method, so your customers will appreciate the ability to pay with Nagad.
- Secure Transactions: Nagad uses state-of-the-art security systems to protect your transactions and your customers’ financial information.
- Easy to Manage: Nagad Merchant Portal is easy to use and provides you with all the tools you need to manage your account and track your sales.
Overall, opening a Nagad merchant account is a great way to grow your business and make it easier for your customers to pay for your products and services.
How does Nagad Merchant Pay work?
Nagad Merchant Pay is a service that allows businesses in Bangladesh to accept payments from Nagad users. It is a convenient and easy-to-use payment method for customers and can help businesses increase their sales and reach a larger customer base. To use Nagad Merchant Pay, businesses need to open a Nagad Merchant Account. Once the account is approved, businesses will receive a Merchant ID and a Merchant PIN. They can then use these credentials to log into the Nagad merchant portal and generate QR codes for their business.
Customers can scan these QR codes through the Nagad app to pay at businesses. Customers can also manually enter the merchant ID in the Nagad app to make the payment. Once the payment is made, the funds will be instantly transferred from the customer’s checking account to the merchant account of the business. Businesses can then withdraw funds from their merchant account to their regular bank account at any time.
How to do Nagad Merchant Pay with QR scanner?
To do Nagad Merchant Pay with a QR scanner, follow these steps:
- Open the Nagad app on your smartphone.
- Tap on the “Merchant Pay” button.
- Scan the merchant’s QR code using your smartphone’s camera.
- Enter the amount you want to pay.
- Enter your PIN.
- Tap on the “Pay” button to confirm the payment.
If the payment is successful, you will receive a confirmation message from Nagad.
What is the limit of Nagad Marchant?
Nagad merchant account limits vary depending on the type of merchant account and the merchant business activity. For general merchants, Nagad payment daily limit is 25,000 BDT and monthly limit is 150,000 BDT. However, Nagad can raise the limit for candidates with good track record and who meet certain criteria. For merchants in certain industries like e-commerce and bill payments, Nagad can offer higher limits. For example, e-commerce merchants may be eligible for daily limits of 50,000 BDT and 300,000 BDT monthly.
Last Words
Opening a Nagad merchant account is a straightforward process that can greatly benefit businesses and individuals in Bangladesh. By following the necessary steps, which usually involve meeting a nearby cash agent, providing required documentation and completing a simple registration process, you can gain access to a powerful digital financial platform. If you face any kinds of problem then Visit Nagad Customer support or Comment us below.