What Is Payza Bangladesh and How Does It Work?

Sometimes being the online merchants, we don’t know much value added features of payment gateways. If we thoroughly study them, we can make our life easy and end-user experiences robust. Therefore, Payza in Bangladesh is the right choice for Bangladeshi e-commerce if you know it well.

Starting an e-commerce venture online is not much easy in comparison to establishing brick-and-mortar units in the real world. Your exercise begins with finding good e-commerce web development partner and sharing your marketing strategies with the web development company.

E-commerce developers will share their daises with you for selection of technologies, research on your target audience, features, and functionality needed for your e-commerce, shopping cart integration, payment gateway integration, in-site search engine integration, and so many aspects related to your e-commerce development.

Payment Gateway

Besides these, your staff has to draw planning for order management, shipping management, warehouse management, support services, etc. to implement them once the product unveils. Fundamentally, we do all those exercises in order to grab money from our targeted audience. Therefore, we bring visitors on our door once, show our offering through a short or long journey. Finally, excite them to buy our products or services depicted on our e-commerce storefront.

Hence, we reach at our final aim, to grab money, only when our shoppers click or tap the door of payment gateway by unveiling their payment details and finishing the checkout process. In short, we can say that our money is where the payment gateway is. Therefore, the importance of the selection of payment gateway can’t be diluted anyhow.

What is payment gateway in fact?
It is a process or programming module that facilitates us to connect our website or say shopping cart with the valid merchant account at a processing bank. This way our shoppers can purchase goods/products/services on virtual spaces, without handing over any case, in any physical form.

Which characteristics do you expect from a good payment gateway?
If you want to select the most appropriate payment gateway for your online storefront, some knowledge about your ideal payment gateway is essential and should have some comparative insights for contemporary payment gateways used in your regions or the regions of your targeted audience. Yes, the selection of payment gateways should be regional, otherwise, you will lose faith, favor, and fans of your e-store quickly.

Security:
A secure payment gateway is the prime concern of any shopper and that needs multiple measures to be taken at developer side, your side, and your payment gateway service provider side.

  • The selection of affordable payment gateway in sense of cheaper registration and transaction fees is at your side
  • Proper integration and customizing encryption or security layers according to your bespoken needs are at your developer side
  • Offering trustworthy environment and populating brand is at your payment gateway side
  • Selecting appropriate payment option and feeding right data in right or say secure manner is at your shopper side

Virtual Terminal Services:
If any shopper directs at your support services and express her desire to buy product instantly, don’t lose the opportunity and use virtual terminal services offered by your merchant or payment gateway and fill web form manually to fix the deal or order. This is the best characteristic of any good payment gateway and its provider.

Fraud Prevention Tools:
There are many fraud prevention tools to save you losing money on chargeback services such as Address Verification Services (AVS), CW2 as three or four-digit security number on the back of debit or credit card, and other online detection methods to stop any unusual behavior of the shopper.

Others:
Apart from the aforementioned important characteristics, below are some name of characteristics to know and expect them to include in your payment gateway solutions developed for Bangladeshi shoppers in order to win their loyalty forever.

  • Recurring Billing
  • eCheck Processing
  • Choice of APIs
  • Affordability/cost
  • NPS integration
  • E-wallet
  • Easy money toppling

Fortunately, Payza Bangladesh is only payment gateway that offers all required traits of the best fit for Bangladeshi online shoppers and e-commerce entrepreneurs.

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Daily Deals – Winning Tactics For Internet Shopping in Bangladesh

After prolonged deprivations, Internet shopping has become a cloying word for Bangladeshi people. People are exhibiting much interest towards e-commerce and they are from both sides, buyers and entrepreneurs. Mature online buyers demanding robust experiences while scrappy and enthusiastic entrepreneurs are offering newer trends. The recent proliferation of the daily deals sites are indicating increasing craze for Bangladeshi Groupon so let’s check what is actually going on.

It is true that Bangladesh was suffering from social, economic, and educational back lags in past, but the recent easing of international trade barriers, economic liberalization, globalization, and deregulation have altogether changed the scenario. Right efforts of governments, entrepreneurs, and people by-and-large have made changed perceptions and habits of average Bangladeshis to do buying and selling in recent past.

Conductive Environment for Internet Shopping in Bangladesh

Daily Deals Payza Bangladesh Today an average Bangladeshi has easy Internet access through mobile devices and computers at some extent. Increasing numbers of smartphone users and declining in Internet charges are boosting overall web surfing. The craze of social media have taught people to use e-commerce websites smartly and forced them to be transparent. Mature web users who do frequent Internet shopping in Bangladesh know how to do comparative shopping and how to leverage ultimate benefits of e-commerce in this small, but rapidly growing country.

After recognizing these trends, many residential and non-residential Bangladeshi entrepreneurs have established online marketplaces and daily deals websites just like Groupon doing in their western counterpart countries of the world. They sniffed the interests and habits of Bangladeshi affluent and middle-class people and unveiled daily deals websites made up of the latest e-commerce development technologies.

Daily Deals Scenario for Internet Shoppers in Bangladesh

For instance, Akhoni.com is one of the leading B2C daily deals websites harboring innumerable products on their websites. Besides these, they offer high discounts over many products and services on behalf of many local businesses by following daily deals model of Groupon. You can find mouth-watering daily deals offers from the restaurants, tourism industries, health industries, fashion and beauty niches, etc. on their website regularly.

Internet shoppers in Bangladesh are now smart and united in small to big groups. They quickly share the information on the social networking sites like Facebook with peers. Sometime they plan to visit the places, which offer daily deals such as restaurants, beauty parlors, etc. in a group and enjoy cheapest services just like doing parties.

Akhoni online shopping website and other similar daily deals websites are not offering just fashion or day-to-day used commodities, but they also offer costly jewelry and electronic gadgets for affluent class people who avoid sweating in traffic rush and wasting their time burning fuels for shop-to-shop visits. Unlike the past, recent improvements in online payment methods and Payza like Bangladeshi players have made e-transactions quite easy and safe for Internet shopping fans in Bangladesh. No doubt, trust building is the key of success in e-commerce in Bangladesh.

Smart Daily Deals Players

Another major player in daily deals sites is BdDeals, which has more than 20 million users in its database and running SMS, E-mail, and PPC campaigns for their daily deals business participants. No doubt, in this daily deals race, only quality conscious and economical sound parties can withstand for longer so daily deals websites check the background of the business and evaluate them in their own way before granting permissions to place their deals on their websites.

Payza Bangladesh That Will Actually Catalyzes the Growth of E-commerce in the Country

Payza is working with clear goals to make Bangladesh a part of global e-commerce without losing its distinguishing traits and unique identity. It has payment gateways and e-transaction solutions, which can work in highly customized ways to honor the needs and wishes of Bangladeshis and their businesses.

online payment gateway

If you take the statistics of Internet access of Bangladeshis, you might find the same scenario that occurred in the west before a decade. There is the low-quality network with few areas covered, mostly urban areas. Users have biases towards the intentions of e-commerce entrepreneurs. Social, political, and economic adversities are hastening the overall growth of the country that is also influencing the e-commerce and allied sectors.

However, the rapid proliferation of mobile devices and high-quality 2G/3G connectivity are hopes that will shorten the timeline of progress. Fortunately, Payza has experienced such transitions and technology transformations in last decade among the western regions of the world. Payza Bangladesh knows the pains of those days and how that all happened. Therefore, it has decided to take present challenges of Bangladesh and smooth the transition process with an advent of technologies.

Payza Bangladesh – The Most Appropriate Alternative

In due course, Payza Bangladesh has decided to execute the development strategies for the e-commerce where it will address the young generation first. As young generation is tech-savvy and scrappy to learn as well as adapt the incoming technologies/tools rapidly. Youths of the new generation are fanatical to simulate the western experiences in their own milieu. Thus, Payza is giving excellent UX, accessibility, and usability for their e-commerce solutions in the form of robust payment gateway solutions and e-wallet projects.

Expectations of Bangladeshis

Bangladeshi government and banks are proactive against the threats of economy and finance of the country. They never like frauds, inflation, and scams, those that pose security threats. Therefore, they didn’t allow international players like PayPal or cryptocurrencies to happen in localities without expected customizations. Payza Bangladesh has given highly acceptable, feasible, and innovative solutions for Bangladeshi ambiance.

Offerings of Payza Bangladesh

e-wallet

Payza Bangladesh has given superb data exchange facilities with desired security aspects. Its e-wallet like innovative concepts has made online payment service and e-transactions, within as well as across the countries of the world, quite easy, fast, and reliable. It has provided many alternatives to topple the local currencies in e-wallet. It has eliminated many long authentication steps during e-commerce payments. These advancements are encouraging outsourcing talents to serve the wide spectrum of clients across the globe. Exporters and importers have less stress of money exchanges and within the range of local laws.

If you look at the e-commerce scenario of Bangladesh, you will find many established as well as start-up players serving wide range of products and services categories. There are many retailers with excellent delivery services in the web sphere of Bangladesh using the latest e-commerce technologies. Marketplace web portals have bulk of items to offer. In short, with secure and reliable payment services, online shopping is the next future thing in Bangladesh where entrepreneurs have guarantees of good ROI.

Why The Future of Internet Shopping in Bangladesh Depends On e-Payment System?

Well functioning payment system means safe and secure Internet shopping experiences. Therefore, it is mandatory to know existing payment system in the country and push improvements if needed to boost the financial growth of the country. Let’s know the payment system in Bangladesh and find out how it adds value in the life of an average Bangladeshi.

Recent financial surveys, financial reports for government plus non-government agencies, and suggestions from e-commerce experts are indicating that payment system is a vital element for e-commerce conversions for the targeted audience residing anywhere across the globe.

Payment Methods

Payment Method: Success Key of Conversion

If you want to catch the target audience in a region or country, you need to respect the online payment preferences of the online shoppers who are residing in that particular region or culture. At the psychological point of view, the audience of particular region or culture generally put trust on selected payment methods.

For instance, Japanese people are cash-oriented and prefer Konbini payment system where cash is collected at convenience stores located in nearby areas. In China, Alipay is enjoying the same status as PayPal in American region and UnionPay as Chinese credit card gradually picking up speed. In the case of Brazilian audience, your e-commerce store should have Boleto Bancario payment method integrated.

Prevailing Payment Methods in Bangladesh

The same is true for Bangladeshis because they highly rely on the Payza Bangladesh like payment gateway services against PayPal and other similar international players. The true reasons behind such popularity are new online payment system call SimplySend and e-wallet.

SimplySend

Legally the payment system in Bangladesh is under Payment System Department (PSD) of Bangladesh since 2012 and it has given a green signal for the formation of National Payment Switch Bangladesh (NPSB) platform by involving the majority of banks operated in Bangladesh.

This has facilitated banks to issue or allow various credit/debit card payments using multiple routes including ATM for cash and online payment through cards with the least service charges against the hefty charges of international credit cards. Moreover, this platform has eased the online payment by omitting merchant payment gateways in between the process.

E-wallet

The next big thing Payza has gifted to the Internet shoppers and other electronic currency or payment method users is e-wallet. E-wallet is working based on Near Field Communication (NFC) technology. It allows innovative modes of payment in many unique use-cases. This way Payza has offered the most suitable and economical payment system for Bangladeshis by respecting their culture and laws of lands beautifully.

In Early Days

In earlier days, internet shopping in Bangladesh was mostly thriving on simple ads and Facebook like social media platforms where no secure and safe payment methods were available on the web. The tendency of Bangladeshis was pay-on-delivery or other traditional methods of payment due to a underprivileged society where trust factor was a sensitive issue. Gradually, Payza Bangladesh has made payment safe, secure, rapid, and cheaper against other available payment systems in the Bangladesh.

The Latest Trend For Internet Shopping In Bangladesh

Bangladeshis are enjoying proliferation of online shops for their diverse needs. Among these shops, fashion and electronic gadget selling are trendier and benefiting two parties, the sellers and the buyers in many respects. Let’s see who is offering what in this online businesses.

Online Shop

In these days, Bangladesh is observing phenomenal growth of Internet usage due to smartphone craze. Of course, endeavors of governments and some entrepreneurs, in recent past, have begun to yield sweet fruits in form of increased e-commerce and other online activities involving many critical e-transactions.

Being a poor and deprived country, Bangladesh was lagging behind in the modernization race in recent past. Fortunately, many non-resident and resident Bangladeshis have tried hard to uplift the face of country by investing in diverse commercial activities. Thus, today Internet shopping in Bangladesh is enjoying special status and range of businesses/industries are coming up with their online identity by breaking many old barriers of trades.

Surveys on Internet Shopping in Bangladesh

Recent surveys on the Internet shopping behavior in Bangladesh had revealed many facts. Upon analysis of traffic, purchase tendencies, actual conversion, and status of Internet shops in Bangladesh have shown that Bangladeshis are getting maturity for Internet usage rapidly and online businesses are making good profits despite fierce competitions amongst them.

International Players

They have identified two areas as fast growing niches and they are fashion and electronic gadgets. For instance, Kaymu online shop is offering range of items for fashion, e-gadgets, kids, home appliances, and sports in nutshell at highly competitive rates. Kaymu is offering robust online shopping experiences with its advanced e-commerce technologies and worldwide network in multiple countries.

Local Players

However, local players are not lagging behind much in this e-commerce race and they are offering unique Internet shopping experiences with locally personalized scents. For example, Fortuna is a leading online shoe and bag store in Bangladesh and providing the optimal blend in style, quality, and affordability in footwear related items and their accessories by respecting local fashion trends.

eCommerce in Bangladesh

As far as we are talking about the local players Chowdhury electronics is good option as online electronics store in Bangladesh. Bangladesh shoppers is one of the big harbors for retail items and hardly leave any essential items that we need in day-to-day course like groceries, households, fashion and apparels, health and beauty, kids related items, furniture, mobiles, PCs, machine and auto parts, etc. to name some. Nittodin is customer-centric marketplace with superb technologies and user experiences in form of highly personalization.

Secretes Behind the Success

Surveyors have noticed one more interesting thing, behind the success of these above described e-commerce stores. They have adopted highly secure payment gateways and payment methods, suitable to the tastes of Bangladeshi including Payza like big players. Thus, they respected the ultimate security related needs of Bangladeshi Internet shopping folks. Another factor was that they offer online shopping with home delivery and this is particularly true for online gift shops in Bangladesh.