Bangladesh has grown rapidly in recent years. Significant economic progress may be seen as well. Bangladeshis now have greater purchasing power than ever before. As a result, demand for retail goods has increased across the country.
To meet this need, businesses are seeking for innovative ways to manage payments and create money. As a result, several Fintech companies have tried to fulfill that objective and meet demand by offering payment gateway services.
Continue reading to learn about the top 10 online payment gateway in Bangladesh. We will also advise you on which is most suited to your needs. Before we proceed, you should be acquainted with Payment Gateways.
What is a Payment Gateway?
A payment gateway is a piece of software that enables shops to accept debit and credit card payments from their customers. Its primary responsibility is to collect transaction data and ensure that funds are available in a customer’s account and payments are made to the merchant. Payment gateways are interfaces that collect customer payment information. Online Payment gateways are physical POS terminals that collect credit card information through card or smartphone.
Payment gateways are online retailers’ “checkout” portals where users enter credit card information or credentials for services such as PayPal. This are distinct from payment processors, which collect payments on retailers’ behalf using client information. Payment gateways for cryptocurrencies such as Bitcoin are also available.
Top 10 Online Payment Gateway in Bangladesh
In this part, we will go through the top ten online payment gateways in Bangladesh:
SSLCOMMERZ is a well-known payment processor in Bangladesh. It has been in use since 2020. It presently serves over 3500 clients by providing digital payment solutions on internet and mobile platforms.
SSLCOMMERZ provides a simple checkout experience with over 30 payment options. On the platform, further features are offered. These capabilities make payment gateway integration easier for its clients.
Accepted currencies include BDT, EUR, GBP, AUD, USD, and CAD. Payment methods available include Visa, Mastercard, Mutual Trust Bank Net Banking, DBBL NEXUS Cards, Islamic Bank Net Banking, Bank Asia Net Banking, City Bank/Amex, and many others. Market Integration: Plug-ins are provided for key platforms and languages.
When we think of a low-cost and dependable online payment gateway, the first brand that comes to mind is Payoneer. This company offers its services in over 200 countries throughout the world.
Customers also value this company’s dependable and affordable online payment gateway. Another popular online payment method, particularly among Bangladeshi freelancers, is Payoneer.
A payment gateway that serves both consumers and businesses. The Bangladesh Bank granted a PSO license to one of the earliest payment gateways.
Another well-known FinTech company in Bangladesh is Aamarpay. It provides businesses of all sizes with low-cost payment gateway services, as well as smartphone integration and QR payment options.
Portwallet is a new payment gateway that has recently opened in Dhaka. Customers can make online payments through the platform, and the company plans to expand its infrastructure to facilitate internet commerce.
6. Fast spring
Fast Spring may be the best payment gateway option for overseas transactions. Anyone desiring to conduct business in a foreign country can acquire funds from them as soon as possible in this situation.
They provide services without requiring a long-term commitment. Furthermore, there are no commitments or enrollment fees with this company. In a word, this is one of Bangladesh’s most easy payment processing firms.
There is no signup fee or term contract. 8.9% each transaction with a minimum purchase of $.75, or 5.9% + $.95 per transaction, for a total of $5.00. Refund charge for GST/VAT/Tax exemption number/Driving license. Privacy Statement: Framework for the exchange of personal information between the EU and the US Personal data that has been encrypted.
7. Easy Pay Way
Another reputable, safe, and secure online payment gateway in Bangladesh is Easy Pay Way. This business offers various advanced features that other businesses do not have. There are additional API systems, payment validation, risk validation, and auto verification.
You can choose easy pay-way services without hesitation for a hassle-free and time-saving payment. They have the following characteristics:
Payment methods include Visa, Mastercard, and Nexus debit/credit cards. Market Integration for E-commerce. SSL encryption protects data. Setup fees are as follows: BDT 5,000 for basic, BDT 10,000 for beginners, BDT 18,000 for professionals, and BDT 20,000 for businesses. Basic is free, Starter is BDT 500, Professional is BDT 2000, and Corporate is BDT 2500 a year. The basic transaction commission is 6.5%, the starter commission is 5%, and the professional commission is 3.9%.
The services of BTTPay are offered throughout Asia. It is a FinTech pioneer, offering payment gateway services to both small and large organizations. They are distinguished by the following characteristics:
Currencies Accepted: Over 100 currencies are accepted.
Payment Options: All major debit and credit cards are accepted. APIs, Mobile SDK, and Plug-in Integrations in the Market PCI-DSS Level 1 Compliance.
The paddle is another safe online payment method in Bangladesh. This service helps to improve NDR. By delivering SaaS services and running both B2C and B2B, they surpass other firms in the modern global transaction industry.
Paddles are also popular since they are inexpensive. There are no monthly or yearly fees for paddle service. They offer the following services: no enrollment costs, no monthly subscription fees, and only a 1% transaction fee.
Refunds will not be issued if the product is discovered to be defective.
Chargebacks, termination, privacy, tax, refunds, legislation, responsibility, and accountability are all covered in their Terms and Conditions. These should not be broken.
2checkout is an international online payment gateway in Bangladesh. It is a payment gateway market leader, providing simple global transactions and huge income generation.
When it comes to collecting money from a foreign country, 2Checkout is the best option. Refunds might be obtained for up to 30 days.
Accepted currencies include all major currencies. Payment methods supported include American Express, Visa, MasterCard, JCB, Neteller, PO, Skrill, Paypal, and bank transfer.
Market integration includes shopping cart integration, API connectivity, and third-party integration. PCI-DSS Level 1 security 3.9% + $0.45 commission per transaction, plus 1.5% cross-border fee
In conclusion, due to the country’s rapid development, electronic and online payments have increased significantly in recent years in Bangladesh. Payment gateways have become increasingly important to both merchants and customers. Hopefully, this post has given you an overview of payment gateways in Bangladesh, including SSLCOMMERZ, and will help you decide who to work with.