Payza Bangladesh: An Incredibly Easy Method for Affordable Money Transfer

Payza Bangladesh has introduced quite simple yet powerful services under the feature of instantly send money to your loved ones with the least charges existing on the planet for such services. This also breaks the myth of digital divide through technological advancements.
‘SimplySendBD’ where you can

Role of Mobiles

The recent onset of mobile devices usage among all the strata of the society including Bangladeshis has raised the hopes of some feasible solutions using the mobile network. Except smartphones, most of the mobiles are affordable and easy to use for the low-literate Bangladeshis. Initially, it was considered as the dividing technologies for poor and rich. Unfortunately, reverse became true and mobile have filled up the gaps.

m-Commerce

Today M-Banking is gaining ground in third world country and easy access to The Internet through mobile devices have created a place for big payment gateways to enter in these low-strata population of society easily. Just as the Indian government has done in Andhra state, Bangladesh is going to implement its G2P payment system using the modern tools and technologies including mobiles and G3 connectivity.

Cost-Effective Sending Money Options

Fortunately, some entrepreneurs have initiated wise and advanced steps towards this direction and Payza Bangladesh is a front-runner. Payza has made sending and receiving money cheaper and quick through SimplySendBD because you don’t need to spend more than 2% or $10 even if you want to send $2K. Apart from cost-effectiveness, easy topping options, and quick delivery through various modes including cash pickup and home delivery. In due course, Payza Bangladesh has established 5K retail locations across the country.

Inexpensive and convenient remittance options have made receiving of huge aids like $1.4 billion from developed countries quite easily and affordable. This is a significant improvement in alleviating poverty program. Besides foreign aids, migrant Bangladeshis send approx $11.65 billion money to their home country in one year.

payza-schemes

These SimplySendBD and e-wallet like features/schemes of Payza Bangladesh are one of the welcome steps towards empowering this emerging economy. Thus, Payza Bangladesh has created a conductive environment for the e-commerce in Bangladesh where anyone can pay, send, and receive money at the comfort of their home and within the shortest laps of time.

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What Is Payza Bangladesh and How Does It Work?

Online shopping can only flourish in the presence of solid supporting frameworks and adaptability of the people. In Bangladesh, infrastructure development for e-commerce had slow pace in the past, but recent moves by the government and awareness of people have made rapid changes. New generation entrepreneurs have fueled the changes by introducing various e-payment mechanisms with desired security and robust experiences. Let’s go through the past and recent developments.

Today the reach of Internet seems rapid due to proliferated use of handheld and wearable devices. Smartphones and tablets have made Internet ubiquitous and accessible round the clock from anywhere. Therefore, various commercial activities taking place on the handheld devices and the most beneficial segment is e-commerce.

Unfortunately, the fruits of these tech advancements are not dispersed equally in the rest of the world. Bangladesh is one of the countries, which lagged behind in the tech race, due to its adverse political and social situations. Telecommunication and Internet technologies are backbones of e-commerce development in any country and Bangladesh have slow pace of development in this regard. Therefore, Internet access is uneven and limited to specific regions as well as up to specific segments of society.

Payza-Logo

Deficiencies of Infrastructure

There are visible deficiencies of infrastructural support framework in forms of :

  • Poor electricity network resulting in poor supply
  • Low affordability of online shopping components such as Internet affordability, computing devices’ affordability, and handheld devices affordability have restricted its reach up to affluent class of the society
  • Low literacy level also affecting the usage of Internet and acceptability of online shopping in Bangladesh

Online Purchase Framework

It is true that the proliferation of online shopping and online money transaction activities greatly depending on the online purchase framework and the ultimate components of this framework are:

  • Purchase Intentions
  • Purchase Adaptation
  • Purchase Continuance

These purchase related factors have direct relationships with the behavior and several characteristics such as:

  • Consumer Characteristics: Their lifestyle, motivation, knowledge, innovativeness, involvement, demographics, etc.
  • Product/ Service Characteristics: The product knowledge, product type, layout, frequency of purchase, tangibility, differentiation, price etc.
  • Medium Characteristics: web design, navigation, ease of use, interface usefulness, reliability, security, etc.
  • Merchant and Intermediary Characteristics: Service quality, privacy and security control, brand reputation, delivery /logistics, after sale service, incentive, etc.
  • Environmental Influences: The culture, subjective norm, exposure, attention, image, etc.

If you closely look at these characteristics, you will find that many of them are at backward conditions or lacking at all and its reasons are obvious:

  • Poor national level public key infrastructure
  • Distrust regarding secure e-transactions whether in local or international currencies
  • Social and technical challenges
  • Lack of legal framework to support

Payment Methods

Recent Progress in Bangladesh
Fortunately, in recent past, government and many entrepreneurs within Bangladesh or from foreign countries who have taken deeper interest in the development of online shopping framework in Bangladesh, By being Bangladeshi (citizens/origins) these entrepreneurs have brought some progressive changes by influencing government policies, investing in e-commerce and allied sectors, and changing the mindset of people by-and-large.

For instance, medium characteristics and merchant or intermediary characteristics as mentioned above are contextual and you can see some through changes. Today software developer community of Bangladesh is competing with its neighboring rivals like India and Pakistan at outsourcing fronts. Thus, they are indirectly improving the quality of above-mentioned components of supporting framework for e-commerce development. Same way trusted payment gateway providers are helping not only national level e-transactions, but also improving the user experiences of Foreign exchanges coming from various sources.

If political stability persists and the tendency of people improving regarding online shopping in Bangladesh, days are not far away that shine the overall economy of Bangladesh and lifestyle of the people.

Payza Bangladesh! The Best Payment Gateway Solutions For E-Commerce!

When web developers create e-commerce for Bangladesh, selection of payment gateway is always challenging due to the unique scenario of e-commerce in Bangladesh. Recent moves of Payza Bangladesh have offered it an edge over other rivals even at the local level for various modes of payment.

Generally, e-commerce web developers and e-commerce mobile app developers either are integrating payment gateways with what their competitors in that e-commerce niche have done or simply ask the client if it is a B2B project. Very few e-commerce developers have the inclination to go through the extensive search process and find out the actual needs of targeted audience.

Payment Methods

We have general perception regarding payment gateway functions such as:
•  Accept payment rapidly
•  Accept payment easily
•  Accept payment securely
•  Build trust carefully

These are common expectations from any standard payment gateways solution for any quality e-commerce storefront. However, deviations and additions are taking place when regional, cultural, social, and economic factors involve in the decision of payment gateways integration of the eCommerce stores.

For instance, PayPal is considered as number one global payment gateway solution across the globe, but its higher fees, over sensitivity for extra sale or loads, and excessive paperwork in many instances are hindering factors for many regions of the world, particularly developing and locally protective policies implementing countries.

No doubt, Bangladesh is one of them and has unique, but valid expectations from any payment gateway operation for its citizens and within the legal territory of the country. If we check features and functionality of a payment gateway suitable for Bangladeshi online shoppers or e-transactions, we can realize these facts obviously.

Unique Needs of Payment Gateways for Bangladesh

Payment-Gateway

Affordable Fees:
As we know, the Bangladeshi currency Taka is very weak against the dollar in the international market and compared to neighboring countries like India. Thus, if any payment gateway counts its sign up, transaction, and other fees in dollar or Pound like strong currencies, it proves non-viable and non-feasible for such poor country or its citizens.

It is good if sign up fees incurred for a large volume of transaction seekers and same for transaction fees when a large volume of transactions taking place by big business houses or international players working from foreign countries. Thus, affordability is a prime issue for lower to mid level of users in Bangladesh when the selection of payment gateway is in question. Fortunately, Payza Bangladesh is the cheapest payment gateways valid and available in Bangladesh without compromising the quality of services despite such competitive fee structure.

Ease and Convenience:
Payza is highly customized payment gateway solution for Bangladesh because it supports numerous currencies around the world and has presence in more than 190 countries of the world where possibilities of Bangladesh based business transactions or presence of NRB from Bangladesh are high.

The algorithm, user interface, and user experiences crafted on Payza Bangladesh is the most befitting solution for the Bangladeshis. In fact, Payza had run thorough research of Bangladeshi culture, behavior, and preferences prior to developed and unveiled Payza solutions so it can address exact needs of Bangladeshi online shoppers and other Internet communities.

payment-gateway

Moreover, Payza Bangladesh has collaborated with leading banks of Bangladesh to execute OPGSP payment and BEFTN like services to meet local needs of online shopping community as well as locals to topple or withdraw money easily and in comprehensive ways. Therefore, Payza allows credit and debit cards, mobile, on service desk of banks and other multiple methods for its users to accomplish their tasks or needs easily, securely, and rapidly.

 

Trustworthy:
Payza obeys local rules of the country and supports the law and its requirement by providing essential info to the government bodies on valid reasons or hiding the sensitive info of its users to protect their privacy. Thus, it has won hearts of all Bangladeshi folk within a short span.

Payment Gateway Provider in Bangladesh – An Incredibly Easy Method That Works For All

Despite tons of hurdles in the way of overall growth of the country, Bangladesh is encompassing a wider range of technologies and e-commerce growth is its evidence. Bangladesh is stepping into the arena of e-commerce slowly, but surely and steadily. It is the e-commerce performance for B2C category, which seems much promising and needs focus. Let’s check what it actually needs.

eCommerce Online Shopping

Bangladesh is considered as an under privilege country with high-density population, high rate of illiteracy, high poverty rate, and scanty infrastructure to adopt advanced technologies that most of the countries in the world enjoy. Despite such hindrance, today country has 7 million Internet users with more than 200 ISP and 100 million mobile Internet users. Nearly one million internet users enjoy the internet and mobile banking services subscriptions and contributing nearly 100 core transactions each month.

Factors Favoring Online Shopping Trends
This big volume of Internet users have boosted the growth of e-commerce in unprecedented volume and more than 2500 online shops or say e-storefronts are operating in Bangladesh. Each prosperous brick-and-mortar store is enjoying an online identity offering online shopping or e-transaction facilities for online shoppers. No doubt, the growth of Internet is not the one-day or one-year miracle, but the consistent efforts of government, international trade and other organization, the contribution of world banks and finance institutions, and finally, the contribution of Bangladeshi entrepreneurs residing outside the country.

Initiatives Made to Sustain Online Shopping Growth
The government had made a target of “Digital Bangladesh in 2012” and provided all sorts of legal, financial, and infrastructural support to boost the online shopping infrastructure and intentions among the citizens through various nodal agencies. Banks in Bangladesh have formed a common platform to ease the lives of Internet shoppers and money transactions needy Bangladeshis within and outside the country. The recent collaboration of banks with Payza Bangladesh like payment gateway service providers are giving solid evidence of the good intentions of the country and its people to keep pace with time and modernize the society by-and-large.

If we look at the recent development, we can realize that Bangladesh is stepping into the arena of e-commerce growth with solid infrastructure.

  • Licenses issued to the maximum WiMAX services
  • Licenses issued to the VoIP operators by BRTC
  • Some additional IIG licenses issued by BRTC
  • Permission for upgrade network to TD-LTE for Banglalion and Augere

E-Commerce

Besides these, recent onslaught of mobility has solved many problems indirectly like affordability of computing devices and spreading wired network because mobile devices are a cheaper alternative against standalone desktops or laptops with limited mobility. The advent of 3G/4G technologies has solved connectivity issues at greater extents. The introduction of Payza like payment gateway provider in Bangladesh has eliminated the needs of bureaucrats in money transactions or remittance for Bangladeshis sending or receiving money from and to the country.

Nature of Online Shops in Bangladesh
Besides government services, ticket bookings for rail, air, or land transports are the optimum usage of e-commerce or e-transactions. Various industries including garments, hospitality, travels, job market, outsourcing, groceries, retails, and many essential commodity businesses are witnessing a big surge through their online shopping opportunity services. In due course, the following e-commerce or say online shopping websites are witnessing high revenue turnover.

  •  Bikroy
  •  Akhoni
  •  Cellbazaar
  •  ClickBD
  •  BDjobs
  •  Rokomari
  •  And many others

If we closely examine, the majority of online shopping services were C2C nature in recent past, but now B2C types of online shopping are becoming trendy. Reasons are obvious as a payment system for online shoppers is becoming more secure and safe against other delivery and collection methods in past traditions. Today any citizen can use her bank account to topple money in Payza Bangladesh account and easily as well as quickly make online payments with the cheapest rates in the world.

Thus, Bangladesh is becoming a paradise for online shoppers gradually and heading towards a bright as well as promising future.