Bangladesh has expanded dramatically in recent years. Along with it, significant economic progress may be seen. Bangladeshis today have more purchasing power than they have ever had. This has resulted in a rise in demand for retail goods across the country.
Businesses are looking for creative ways to correctly manage payments and generate revenues to fulfill this need. As a result, many Fintech firms have attempted to fulfill that purpose and meet demand by providing payment gateway services.
Continue reading to discover about Bangladesh’s top 10 payment gateways. We will also advise you on which one is most suited to your requirements.
Before we get there, you should be familiar with Payment Gateways.
What exactly is a Payment Gateway?
A payment gateway is a piece of technology that allows retailers to receive debit and credit card payments from customers. Its major duty is to collect transaction data and ensure that money are available in a customer’s account and that payments are made to the merchant.
- Payment gateways are interfaces that collect payment data from customers.
- Payment gateways are POS terminals in actual stores that accept credit card information through card or smartphone.
- Payment gateways are “checkout” portals in online retailers where customers enter credit card information or credentials for services such as PayPal.
- Payment gateways differ from payment processors, which collect payments on behalf of merchants using client information.
- There are also payment gateways for cryptocurrencies such as Bitcoin.
Top 10 Payment Gateways In Bangladesh For Online Payment
In this part, we will go through the top ten online payment gateways in Bangladesh:
In Bangladesh, SSLCOMMERZ is a well-known payment processor. It has been in operation since 2020. It now has over 3500 clients that use it to provide digital payment solutions on online and mobile platforms.
SSLCOMMERZ offers a straightforward checkout process with over 30 payment alternatives. Additional functionalities are available on the platform. These capabilities simplify and simplify payment gateway integration for its clients. These characteristics are as follows:
- Currencies accepted: BDT, EUR, GBP, AUD, USD, CAD
- Payment methods include Visa, Mastercard, Mutual Trust Bank Net Banking, DBBL NEXUS Cards, Islamic Bank Net Banking, Bank Asia Net Banking, City Bank/Amex, and many more.
- Market Integration: Plug-ins for major platforms and languages are available.
In Bangladesh, 2checkout is an international online payment gateway. It is an industry leader in payment gateways, offering easy global transactions and significant revenue creation.
When collecting money from a foreign country, 2Checkout is the ideal solution. Refunds were available for up to 30 days. Their characteristics are as follows:
- Currencies accepted: All major currencies
- American Express, Visa, MasterCard, JCB, Neteller, PO, Skrill, Paypal, and bank transfer are all accepted methods of payment.
- Market Integration: Shopping cart integration, API and third-party integrations Security: PCI-DSS Level 1 Commission per transaction: 3.9% + $0.45 and 1.5% cross-border cost
Another secure online payment mechanism in Bangladesh is the paddle. This service provides NDR improvement. They outperform other organizations in the modern global transaction market by providing SaaS services and operating both B2C and B2B.
Paddles are also popular due to their low cost. Paddle service does not require any monthly or yearly payments. Their services include:
- No signup fees; No monthly subscription fees; Only a % transaction fee;
- Requirement: VAT/Sales Tax Codes;
- Refund: Refunds will not be initiated if found faulty;
- Terms and Conditions: Guides you through their chargebacks, termination, privacy, tax, refunds, laws, responsibility, and liability. These should not be violated.
BTTPay’s services are available throughout Asia. It is a FinTech pioneer, providing payment gateway services to both small businesses and major corporations. They have the following characteristics:
- Over 100 currencies are supported.
- Payment Methods: All Major Debit and Credit Cards Market Integration: APIs, Mobile SDK, and Plug-in Integrations PCI-DSS Level 1 Security
5. Easy Pay Way
Easy pay way is yet another reputable, safe, and secure online payment gateway in Bangladesh. This company has several advanced features that other companies do not have. API systems, payment validation, risk validation, and auto verification are also available.
You can choose without hesitation easy pay-way services for a hassle-free and time-saving payment. Their characteristics are as follows:
- Payment Methods: Visa, Mastercard, and Nexus debit/credit cards are accepted.
- E-commerce Market Integration
- SSL Encryption provides security.
- Setup fee: BDT 5,000 for basic, BDT 10,000 for starters, BDT 18,000 for professionals, and BDT 20,000 for corporations.
- Annual fee: Basic is free, Starter is BDT 500, Professional is BDT 2000, and Corporate is BDT 2500. Transaction commission: Basic is 6.5%, Starter is 5%, and Professional is 3.9%.
6. Fast spring
Fast Spring may be the finest alternative for payment gateways for international purchases. In this circumstance, anyone wishing to conduct business in a foreign country can obtain funds from them as soon as feasible.
They offer services without the need for a long-term commitment. Furthermore, this company has no commitments or signup costs. In a nutshell, this is one of the most straightforward payment processing organizations in Bangladesh.
- No signup charge or term contract 8.9% per transaction with a minimum purchase of $.75 or 5.9% + $.95 each transaction $5.00
- Refund fee GST/VAT/Tax exemption number/Driving license
- Privacy Statement: Framework for sharing personal information between the EU and the United States Personal information that has been encrypted
A payment gateway that caters to both consumers and corporate merchants. One of the first payment gateways received a PSO license from the Bangladesh Bank.
Aamarpay is another well-known FinTech company in Bangladesh. It offers low-cost payment gateway services to businesses of all sizes, as well as smartphone integration and QR payment choices.
Portwallet is a new payment gateway established in Dhaka. Customers can use the platform to make online payments, and it wants to expand its infrastructure to support internet commerce.
Payoneer is the first brand that comes to mind when we think of a low-cost and dependable online payment gateway. This company provides its services in over 200 countries worldwide.
Customers additionally appreciate this company’s dependable and reasonable online payment gateway. Payoneer is another popular online payment channel, notably among Bangladeshi freelancers.
Finally, due to the country’s rapid development, Bangladesh has seen a substantial increase in electronic and online payments in recent years. Payment gateways have grown in importance for both merchants and customers. Hopefully, this post has provided you with an overview of payment gateways in Bangladesh including SSLCOMERZ and will assist you in deciding who to collaborate with.