Brand positioning and consumer perception: A study of bKash vs. Nagad

Abstract

This case study examines brand positioning and consumer perception of two leading mobile financial service (MFS) providers in Bangladesh, bKash and Nagad, within a rapidly expanding and highly competitive fintech market. Driven by increasing mobile phone penetration and the need for greater financial inclusion, MFS has transformed everyday transactions, particularly for unbanked and rural populations. The study explores how bKash and Nagad differentiate themselves in a market shaped by trust, price sensitivity, convenience, and accessibility. bKash has positioned itself as a secure and reliable financial ecosystem through first-mover advantage, a large agent network, and diversified service offerings. In contrast, Nagad has emphasised affordability, government affiliation, and accessibility for rural and low-income users. Using a mixed-method approach, including a survey of 350 respondents and analysis of secondary data, the study finds that consumer preferences are segmented rather than uniform. bKash is perceived more positively on trust, security, and user experience, whereas Nagad performs better among price-sensitive and previously underserved segments. The findings also indicate growing dual-platform usage, with consumers selecting platforms according to transaction type. The study concludes that successful brand positioning in emerging fintech markets depends on balancing trust, affordability, and accessibility while adapting to regulatory developments and evolving consumer expectations. Page