Online Payment Gateways in Bangladesh: A Comprehensive Guide for Business Owners
Business owners in Bangladesh have a variety of payment gateway options to choose from. As of August 2023, several gateways similar to Stripe are widely used and supported. This article explores the top payment solutions available, their features, and the considerations businesses need to make when selecting one.
Popular Payment Gateways in Bangladesh
For businesses operating in Bangladesh, here are some of the leading online payment gateways:
1. SSLCommerz
SSLCommerz is one of the leading payment gateways in Bangladesh, offering support for various payment methods including credit and debit cards, mobile banking, and internet banking. This gateway's broad range of payment options makes it a popular choice for businesses that serve a diverse customer base.
2. Razorpay
While primarily focused on India, Razorpay has expanded its services to support businesses in Bangladesh. Offering a comprehensive suite of payment solutions, Razorpay provides robust tools for businesses to manage their transactions, making it a strong contender in this market.
3. Nagad
Nagad is a mobile financial service that has gained significant popularity in Bangladesh. It offers businesses an easy way to accept payments through its platform, making it convenient for small and medium enterprises to integrate payments into their operations.
4. bKash
bKash is one of the largest mobile financial service providers in Bangladesh. It offers merchants the ability to accept payments through its mobile app and provides various integration options to suit different business needs.
5. Payza
Despite facing some challenges in the past, Payza remains a popular choice for international payments. Businesses should check its current status to ensure it is suitable for their needs in Bangladesh.
6. Payoneer
While not a traditional payment gateway, Payoneer allows businesses to receive international payments and is particularly useful for freelancers and online sellers.
7. Fatiha
Fatiha is a newer entrant to the Bangladeshi market, providing local payment solutions tailored for Bangladeshi merchants and consumers. Its ease of use and localization make it a compelling option for local businesses.
Choosing the Right Payment Gateway
When selecting a payment gateway, several factors should be considered to ensure the chosen solution meets the specific needs of your business:
Transaction Fees
Understand the transaction fees associated with each gateway. High fees can eat into your profits, so it's crucial to compare the costs and find the best value for your business.
Ease of Integration
Evaluate the integration process for each gateway. A smooth integration process is essential to minimizing downtime and ensuring a seamless customer experience.
Customer Support
A responsive and reliable customer support team can make a significant difference in addressing issues and providing assistance to your customers. Look for a gateway that offers comprehensive support options.
Top Five Online Payment Gateways in Bangladesh
The following are the top five online payment gateways for businesses in Bangladesh, along with two international solutions:
1. SSLCommerz
SSLCommerz leads the market with its comprehensive support for different payment methods.
2. Port Wallet (Not listed in original prompt, but considered a fresher alternative to SSLCommerz)
Port Wallet offers robust features and is worth considering as an alternative to SSLCommerz.
3. easypayway (Not listed in original prompt, but a well-known solution in the region)
easypayway provides reliable and efficient payment processing options for businesses.
4. 2Checkout
International solution 2Checkout offers a wide range of payment options and is suitable for businesses with an international presence.
5. PayAdmit
PayAdmit provides advanced payment processing solutions and is another viable international option.
Note
Stripe is not supported in Bangladesh but can still be accessed by incorporating a UK company and using payment APIs to interface with the gateway. More information can be obtained by searching 'Incorpuk' on Google or contacting their support team.