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The NAGA Group AG: NAGA announces NAGA Pay launch

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DGAP-News: The NAGA Group AG / Key word(s): Miscellaneous
03.11.2021 / 09:00
The issuer is solely responsible for the content of this announcement.


NAGA announces NAGA Pay launch

Hamburg, November 3rd, 2021 - NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for trading, cryptocurrencies and payments NAGA.com, announces the launch of the revolutionary payment platform "NAGA Pay" with UK / European payments and VISA debit card.

The unique program from NAGA Pay combines an IBAN account, a VISA debit card, a brokerage account, copy trading and physical crypto wallets, the latter being subject to licensing.

The brand-new NAGA Pay app supports payments in the EEA and the UK, as well as a globally recognized VISA debit card that is accepted by over 140 million merchants worldwide. Users can make bank transfers and send funds to friends for free in the NAGA Pay app. In addition, NAGA Pay is integrated into the entire NAGA trading infrastructure.

Benjamin Bilski, CEO of NAGA says: "We worked hard to deliver the new functionalities and are excited about the possibilities NAGA Pay offers to our customers. Besides being able to make payments and send money, users can also invest with one tap in over 1,500 assets including straight equities for just EUR 0.99 per trade. In addition, users can copy other traders and get copied. As soon as the crypto offer is approved, our app will be by far the most complete payment solution on the European market."

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

Furthermore, NAGA plans to offer various payment sources at the point sale. With a simple selection in their app at the checkout, users can decide whether the card account or their investment portfolio should serve as a source of payment. in the latter case, they would sell assets they select in real time to fund the payment.

"For example, if I have a balance of EUR 50 on my card and EUR 500 in Apple shares, I can use the app to decide which source will be selected for my payment at the checkout. In addition, we will allow cryptocurrencies such as Bitcoin or Ethereum to be selected as a means of payment by means of real-time exchange in the future. This is subject to the licensing of our crypto division, which we are currently working on," adds Bilski.

NAGA Pay offers a fully digital account opening process and is offered as a standard or premium solution. The premium account has lower fees for withdrawals, premium customer support and higher limits on transactions.

"This version is just the start of our very own appstore for financial services. We will also expand into wealth management, saving plans and a strong loyalty offering for our active clients." concludes Bilski.

The app can now be downloaded from the Apple Appstore and Google Play Store. Further information on the entire NAGA Pay offer can be found at https://www.naga.com/pay

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About NAGA

NAGA is an innovative fintech company that has developed a socially enhanced financial system that creates a unified and seamless experience across personal finance and investing. Its proprietary platform offers a range of products ranging from trading, investing, and cryptocurrencies to a physical VISA card and social investing features such as a Feed, a Messenger and Auto-Copy. NAGA is a synergistic all-in-one solution that's accessible and inclusive, and that provides a better way to trade, invest, connect, earn, acquire and pay, across both fiat and crypto.


03.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

The NAGA Group AG

Hohe Bleichen 12

20354 Hamburg

Germany

E-mail:

info@naga.com

Internet:

www.naga.com

ISIN:

DE000A161NR7

WKN:

A161NR

Indices:

Scale 30

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1245675


 

End of News

DGAP News Service

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