Nagad introduces a virtual card to enhance user privacy, particularly for female clients facing harassment and fraud during transactions.
The Bangladeshi mobile finance service Nagad has a built-in virtual card number that enables users to use all of its features even after masking their mobile numbers. This function aims to combat the telephone harassment that female clients experience. Furthermore, it will protect their privacy.
Because their cellphone numbers were exposed while they conducted any transaction at an MFS service point, women in Bangladesh have been subjected to harassment and/or phone fraud. Sadaf Roksana, co-founder and executive director of Nagad, developed a virtual card number to stop this problem from getting worse.
This function functions as a substitute for a real mobile account number. It shields Nagad clients from stalking. It serves as even more safeguard against fraud. Women will therefore have more flexibility and protection while engaging in financial activities.
When consumers conduct any transactions, Nagad always puts their complete protection and privacy first, according to Roksana. Every product and service is always designed with the consumer’s financial freedom in mind.
“We have made sure that none of our female consumers experience harassment while using Nagad from the very beginning of our adventure. For financial transactions, we have provided a built-in virtual number to replace their actual number, she said.
The formation of a diversified squad
To guarantee that women are supported in the greatest way possible, Roksana and Nagad have nearly 2,200 agents spread out across the nation. Most of these are ladies who have endured suffering in the past. Nagad assists in fostering in them the self-assurance they require.
With innovations like electronic Know Your Customer (e-KYC), the MFS corporation helped to change the nation’s financial market. This has made the process of opening an account simpler. Financial inclusion has increased to 52% at a faster rate because to the combination of this with simple and affordable services.
