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.

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.

Easy Ways To Facilitate Online Shopping In Bangladesh By Joining NPS Leads

With formation of National Payment Switch (NPS) before a year or two, banks and Payza Bangladesh have taken right steps towards the payment gateway solutions for export and outsourcing industries of Bangladesh.

Moreover, Payza Bangladesh has served online businesses looking for bespoken payment solutions in the Bangladeshi environment in beautiful and cost-effective ways.

Before a year or two, banks in Bangladesh had unveiled National Payment Switch (NPS) platform in order to bring debit and credit card payments in mainstream and merge other payment options in a single route. Thus, Bangladeshi users can topple their bank accounts, M-Commerce accounts, etc. through multiple ways.

ecommerce

Similarly, citizens in Bangladesh can withdraw same money using their debit or credit cards in ATM or can pay money online against the option of Internet transfer or say e-transfer for online shopping payment in Bangladesh as well as anywhere across the world with valid permissions/accounts.

Ultimate Benefits
Under NPS network, transaction cost would be negligible against the charges incurred by Visa, Amex, or Master card networks. This is the most wanted demand of relatively poor Bangladeshis since long. For them NPS are a blessing where they are secure, law abided, yet the cheapest at transaction fees, incurred by national and international rival services.

In the beginning only three banks, Dutch-Bangla, Pubali and Southeast Bank, were participated. However, as soon as Payza Bangladesh has declared its role in this network, other banks rushed and joined network to expand the reach. The ultimate benefits of NPS to government are easy access of funds, increase in tax revenue through transparency, and increased money flow in Bangladeshi economy.

Role of Payza Bangladesh

Payza Bangladesh

Payza is loaded with outstanding ‘payment gateway solution’ tools such as

  •  Currency exchange
  •  Fraud screening
  •  Dispute resolutions
  •  Global payouts
  •  Disbursements
  •  E-wallet
  •  Virtual terminal
  •  Recurring billing
  •  eCheck processing

At one hand, toppling the money through physical ways is quite easy, as you need to open online account and deposit money through bank desks in your nearby valid banks. You will have instant access of money without passing through daunting bank account opening procedure even in any unknown territory of Bangladesh.

At other hand, you can use these deposited money for any purpose of payment using M-Commerce, e-commerce, or S-commerce routes. In the same way, you can receive payment in foreign currency from foreign countries with the least charges offered by open market and in quick as well as secure ways.

send-receiveTherefore, such excellent services of Payza Bangladesh have added fuel in the growth of outsourcing industry flourishing in Bangladesh and export house exploring unknown regions and market across the world.

Moreover, Payza has collaborated with the most of the leading banks of Bangladesh like Bank Asia to execute OPGSP payment and used Bangladesh Electronic Funds Transfer Network (BEFTN) facilities organized by the Bangladesh Bank- sectors in order to ease the lives of numerous freelancers and IT outsourcing companies to work with any client coming from any country of the world. As Payza has made possible to accept payments in any currency, as it offers the wide range of currency support and has presence in more than 190 countries of the planet Earth.

Savvy People Do Internet Shopping in Bangladesh

The popularity of online shopping in Bangladesh is growing day-by-day blessed by mobiles and various incentives offered by e-commerce industry. However, online shopping is neither risk free nor cheaper, if you don’t know how to play smartly. Let’s check the smartest ways to do so.

Online Shopping

Internet shopping in Bangladesh is getting immense popularity among all the creeds and classes of Bangladeshis. Thanks to increased penetration of cheaper Internet and flourishing mobile with ease of Internet through 3G/4G connectivity, Bangladeshis are enjoying Internet shopping with awesome features and facilities. Modern generation of Bangladeshis is enjoying online shopping without putting any step outside their home or office confinement, even they can shop while they are driving or commuting in public transport in odd hours.

Internet Shopping Craze in Bangladesh
They can place order with cash on delivery or home delivery without taking any risk of online payment as well as they can pay securely through Payza Bangladesh like safe and secure payment gateway. After observing online shopping craze in Bangladesh many entrepreneurs have jumped into the bandwagon and established their online identity with such secure payment methods and payment gateway integrations, even brick stores have created brick-to-click storefront for Internet shoppers in Bangladesh.

Internet Shopping Security
However, not all players are fair and there are frauds, spam websites, hackers, malicious elements, etc. unwanted activities reporting with same intensity on the web-o-sphere of Bangladesh. Therefore, it is mandatory to take enough precautionary steps while doing Internet shopping in Bangladesh taking smart way of e-shopping

Shop from Secure Online Storefronts Only
It is true that on Internet not all e-commerce storefronts or websites are reliable and offer secure shopping experiences. Therefore, you need to check some essential characteristics of Internet shopping websites prior to inserting any vital info from your side and those precautionary steps involve:

Reading the privacy policies thoroughly:
Yes, the majority of e-commerce websites are offering comprehensive and legitimate privacy policy. They do so in order to protect your financial and personal information, which you enter during checkout process to do your payment. If you find any loophole or discrepancy, do not shop with them.

payment-methodRead Reviews of Storefronts:
Today we have social media like Facebook and other social networking sites where we can exchange our opinions and experiences with brands and such online shopping websites. Therefore, avail these facilities in your favor and simply read reviews or place your thoughts of shopping on certain e-commerce sites, you will have tons of advices or insights regarding their reliability, services, and security like experiences of others. The best way is to open their Facebook page and check the customers of brands that have placed their reviews and ratings.
Bangladeshis are fond of social media and eager to express them on it so take advantage of their mentality and extract the truth about the website on which you are going to do Internet shopping for big order or to be a loyal customer forever.  

Right Selection of Payment Method and Payment Gateway:
Fortunately, in modern Bangladesh, government, banks, and many Payza Bangladesh like entrepreneurs have made solid effort to make online payment highly safe, secure, and affordable for Bangladesh like underprivileged country. Thus, you need to check, which payment method involves the safest payment option and which payment gateway is involved with it.

Simple Guidance to Make Online Shopping Safe & Secure in Bangladesh

Online shopping is worth your time and money when they are in question. Today Bangladeshi lifestyle is changing rapidly and Bangladeshis are the stimulating lifestyle of developed countries of the world. Therefore, online shopping in Bangladesh is getting momentum gradually. However, it is not par and safe as in western countries. Here are some tips to do it safe and securely.

Today society in Bangladesh, by-and-large, is passing through a transition phase from underdeveloped to a developing and may be as developed at any point of time in near future. The government is functioning in democratic ways and uplifting the life of people in the country through various measures. Education rate is picking new peaks and people are living busy lifestyle as their western counterparts are doing.

 

The proliferation of mobiles and penetration of Internet are factors pushing e-commerce at new levels. Online shopping in Bangladesh is gradually becoming a trend, as almost everything is available and within reach of fingertips or just a click on the web. We can list numerous benefits of online shopping viz. time-saving, fuel saving, opportunity to do comparative shopping, and much more in different contexts.

Unfortunately, each coin has two facets so online shopping has some dark shadows looming on Bangladeshi shoppers too. Let’s check some of them in brief here.

Heavy is Suspicious

When you find that any e-commerce store or ads on the web, whether it is on social media or elsewhere, is luring you through offering unbelievably high discounts or incentives, look at them with suspicious eyes. Remember that reputed brands never sell their products at the cheapest rates or offer heavy discounts that make your head wobble.

Usually, brands are passing their savings on brick store investment and other overheads in measurable percentages, never at half or one-third rates. Unfortunately, scammers in Bangladesh are enough and know how to trap new generation shoppers by victimizing them based on their immaturity and freedom offered by illiterate or less educated parents.

This is the best way to save you from possible cheating or frauds. Smart online shoppers are directly logging in to the original website or mobile app of the brands, instead of going via other routes. Thus, my next suggestion is secure your log-in credentials.

eCommerce

Secure Surfing
Today half of the online shopping is taking place through mobile devices, smartphones or tablets. Do you know Wi-Fi or mobile connection is considered insecure across the world and it is more vulnerable in, Bangladesh like developing nations. Always keep your computing devices updated with security software and recommended security measures even though you have wired connection because passwords and credit card credentials are stored in cookies and hackers can access through hacking your system easily.

Cross Check before Big Deal
Bangladesh is not a big nation that you can’t collect info on any reputed business using your personal or professional circles. This is imperative, particularly when you are going to pay a big amount or making a big deal where your payment is in risk.

Ray of Hopes
Fortunately, among the misty online environment in Bangladesh, Payza Bangladesh like entrepreneurs have taken right steps to offer secure and easy online shopping experiences in pure Bangladeshi contexts. Moreover, such payment gateway in Bangladesh has made money transactions cheaper and safe through forming alliances with local and international banks.

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.