NAGA Launches Payments Platform NAGA Pay

Fazzaco learned that NAGA Group, the provider of the social network for financial market trading NAGA.com, has launched its payments platform NAGA Pay.

In the middle of June, NAGA announced that it would launch payments platform NAGA Pay in the third quarter of 2021​, which would be available in the United Kingdom and the European Economic Area.  

With the payments platform, NAGA clients can open an IBAN and a brokerage account together. Additionally, users can use NAGA's copy trading services from the payments app.

NAGA payments services can be seen as complementary to its existing trading services as it is integrated into the entire NAGA trading infrastructure. While customers can access usual payments services, they can use the wallet holdings for trading activities.

"We worked hard to deliver the new functionalities and are excited about the possibilities NAGA Pay offers to our customers," said Benjamin Bilski, the NAGA CEO.

Bilski added: "With NAGA Pay, we are expanding our target group by hundreds of millions of users, diversifying our income streams, and have completely new ways of acquiring and retaining customers. NAGA Pay will become extremely relevant to our marketing mix."