A payment gateway is a merchant service that processes credit card payments for eCommerce sites and traditional brick and mortar stores. A payment gateway in Bangladesh is important in e-commerce as it helps to transfer the information regarding a transaction between the payment portal and the front-end processor or bank.

When you’re running an eCommerce site, you can’t manage without a payment gateway. A payment gateway can be described as the mediator between eCommerce sites and the payment processor. The payment gateway is required to enable secure payment authorization for your eCommerce site.

What is a Payment Gateway in Bangladesh?

An online payment gateway is a service that empowers all your credit card transactions through your credit card provider. SSL payment gateway service is a straightforward online payment system in Bangladesh. It’s basically a channel between an eCommerce site and the bank that supports a client’s credit card payment through the payment gateway providers.

In simple terms, a payment gateway is a network through which your customers transfer funds to you. Payment gateways are very similar to the point-of-sale terminals used at most traditional stores. When using a payment gateway, customers and businesses need to work together to make the transaction.

How Does an Online Payment Gateway Work?

The payment gateway in Bangladesh is of the utmost for taking care of all the credit cards of online shoppers. It is a comparable procedure as a point of service (POS) device does when you pay for your petrol. The primary role of the payment gateway is to support the transaction between you and your clients.
A payment gateway is the gatekeeper of your customer’s payment data. For online merchants, a payment gateway relays the information from you, the merchant, to the acquirer and the issuing bank using data encryption to keep unwanted threats away from the sensitive card data.

Aside from fraud management, a payment gateway also protects merchants from expired cards, insufficient funds, closed accounts, or exceeding credit limits.

The customer chooses the product or service they want to purchase and proceeds to the payment page. Most payment gateways offer you different options for your payment page. The payment gateway securely receives the transaction data before it passes it to the acquirer. The payment gateway tokenizes or encrypts the card details and performs fraud checks before they send the card data to the acquiring bank.

The acquiring bank sends securely the information to the card schemes. The issuing bank, after performing fraud screening, authorizes the transaction. The approved or declined payment message is transferred back from the card schemes, then to the acquirer.

The acquiring bank sends the approval or decline message back to the payment gateway which then transmits the message to the merchant. If the payment is approved, the acquirer collects the payment amount from the issuing bank and holds the fund in your merchant account.

The customer enters their credit or debit card details on the payment page. These details include the cardholder’s name, card expiration date, and CVV number (Card Verification Value). This information is securely passed onto your payment gateway, based on your integration.

deposits the funds into the merchant’s account, a process which is known as the settlement; when the actual settlement will occur, depends on the agreement the merchant has with their payment gateway.

Based on the message, the merchant may either display a payment confirmation page or ask the customer to provide another payment method.

What is Your Target Customers’ Preferred Payment Gateway for Online?

There are many online payment systems in Bangladesh to choose from. All of them do pretty much the same job, however, there are some extinguishable differences and features, which help some of the payment gateways really outshine others.

If you know about gateways and are familiar with its features, then it’s very good. But even if you don’t know anything about this topic, we are here.

SSLCOMMERZ is the biggest payment gateway aggregator in Bangladesh. More than 3500+ businesses have run the best-in-class digital payment solutions provided by SSLCOMMERZ, enabling them to extend their businesses across mobile and web platforms.
SSLCOMMERZ allows all sorts of debit/credit/prepaid cards’ usage, including VISA, MasterCard, American Express, etc. They also allow 8 brands of mobile banking (including bKash, Rocket, Nagad, etc.), internet banking from 6 banks, 3 e-wallet brands (ipay, upay, Dmoney), and EMI from 19 banks. With 20+ payment options at your client’s disposal, it’s safe to say, SSLCOMMERZ has made payment-making as easy as clicking a button.

Does Payment Gateway Affect Checkout Experience?

Your choice of payment gateway, and how that gateway and its options are presented in your store, can have a big impact on the experience of your shoppers. Choose well and you’ll have more customers. It should go without saying that if a shopper has difficulty using your store, they’re far more likely to leave in search of a better one.

This creates a need for store owners to create a great experience from beginning to end, starting at the homepage and ending at that final “thank you for your order” page. Any factors that might detract from this experience, like a clunky search or menus that don’t seem to make sense, put you at risk of losing shoppers.

Your payment gateway is part of this experience you present, even if you might not realize it. If it doesn’t convey trust, is difficult to use, or looks out of place, it can cause you to lose sales just like any other element of your store’s design.

Most Popular Payment Gateway in Bangladesh

Choosing the best payment gateway provider for your eCommerce website is a tedious process. While choosing, you should ensure that the customer payment experience is smooth, fast, and secure. This helps to increase trust among the customers and come back to purchase other products or services in the future.

Here are the most popular payment gateways in Bangladesh;

01. SSLCOMMERZ

SSLCOMMERZ is the most popular and leading online payment gateway in Bangladesh. Bangladesh Bank awarded it for its outstanding performance and reliability.

Privacy Policy :

It only collects information that the users provide.
DSS PCI-compliant system

Requirements :

VAT/TIN

SETUP FEE : BDT 15,000
ANNUAL FEE: Free

COMMISSION PER TRANSACTION: 1.6%

02. Aamarpay

Aamarpay is a faster and more secure online payment gateway in Bangladesh. It gives many privileges to its merchant users. People like it so much due to the lowest fees. You use this Payment Gateway, so you can take recommendations from us.

In addition to this, you will get the advantage of fast checkout, which is the most wanted thing while online payment.

Privacy Policy :

3 layers of security
Instant payment notification
Highest integrality so that your account remains safe

Requirements :

Tax Identification number
Passport/National ID

SETUP FEE : BDT 4,000 to 15,000
ANNUAL FEE : Free

COMMISSION PER TRANSACTION : 2.5% to 3.25%

03. PortWallet

PortWallet is an advanced and very smooth online payment gateway in Bangladesh. It’s one of the leading platforms for online payment. This platform is mostly popular for its connective solution and API system.

Privacy Policy :

Instant notification
3d security system
Highly secured complaint system (PCI DSS)

Requirements :

TIN/VAT

SETUP FEE :

Starter: BDT 5,000
Business: BDT 20,000

ANNUAL FEE :

Business: BDT 24,000

COMMISSION PER TRANSACTION : 2.5% to 3.25%

04. ShurjoPay

ShurjoPay is another popular online payment gateway in Bangladesh. Bangladesh Bank has awarded its PSO license. Undoubtedly, this is a universal one that can be the payment solution for both business merchants and consumers. People like it for its strong privacy policy and low rates.

Privacy Policy :

Proper verification and validation
No fear of 3rd party integration
Highly secured

Requirements :

VAT or Tax Identification Number
National ID

SETUP FEE :

Corporate: BDT 10,000
Education: BDT 5000

ANNUAL FEE : Free

COMMISSION PER TRANSACTION : 2.5%

05. Easy Pay Way

Easy Pay Way is an awesome online payment gateway in Bangladesh. Do you wanna get a time-saving, secure, and hassle-free payment? Then you can take payment through this platform. Undoubtedly, it’s a safe payment gateway in the present market.

Privacy Policy :

Information collected only for their use
Our information may be provided to 3rd party but do not worry! They will surely assure general safety for you.

Requirements :

Trade license
Tax identification number

SETUP FEE : BDT 5000 to 20,000
ANNUAL FEE :

Basic: Free
Starter: BDT 500
Professional: BDT 2,000
Corporate: BDT 2,500

COMMISSION PER TRANSACTION :

Basic: 6.5%
Starter: 5%
Professional: 3.90%
Corporate: Age agreed

06. Paddle

A paddle is another popular online gateway in Bangladesh. This is an amazing platform that offers NDR enhancement. A paddle is generally chosen for its low-cost advantage.

You need to pay the signup charge because it offers to open the account without any cost. In addition to this, there is no monthly or yearly charge to pay.

Privacy Policy :

Integrity, safety, and confidentiality of personal information
General safety measures

Requirements :

Trade license
VAT/Sales Tax codes

SETUP FEE: Free
ANNUAL FEE: Free

COMMISSION PER TRANSACTION: 1.6%

7. Payoneer

Payoneer is a wonderful and very cheap online payment gateway. Their service is available in 200+ countries around the world. This platform is mainly popular among freelancers in Bangladesh.

The reason behind its popularity is that Payoneer is one of the cheapest and most reliable platforms for getting payments online.

Privacy Policy :

Passwords are encrypted. So, none can get access to it.
All of the personal data of its users are encrypted. This is why there is no chance to find your data stolen.
Secured firewalls

Requirements :

Passport/National ID card number

SETUP FEE : Free
ANNUAL FEE : $29.95/year (if you take a MasterCard, otherwise there is no annual charge)

COMMISSION PER TRANSACTION: 3$ per Transaction.

8. 2Checkout

2Checkout is one of the most popular international payment gateways that you can use in Bangladesh. This is undoubtedly a nice platform to make global payments. At present, the world is becoming closer to us. To take a payment from a foreign country is so easy.

Privacy Policy :

Customer information shared with partners
Swiss-US and EU-US privacy shield

Requirements :

Trade license
Tax/VAT Identification Number

SETUP FEE: Free
ANNUAL FEE: Free

COMMISSION PER TRANSACTION : 3.9% + $0.45

9. Authorize.net

Authorize.net is an amazing and one of the leading online payment gateways in Bangladesh. This platform is well known for its privacy and data protection. Besides, it will give you a very smooth and pleasurable experience for online payment. You cannot but love to join them.

Privacy Policy :

PCI DSS compliance
Standard data security
Personal data protection

Requirements :

Order and payment information
Contact information
Consumer name etc.

SETUP FEE: Free
ANNUAL FEE: $25 per month

COMMISSION PER TRANSACTION: Per Transaction 10 cent daily batch fee is 10 cent

There are other Payment Gateway renowned globally. Which are

1. PayPal

Paypal is an eCommerce payments platform designed to help people and companies to send and receive payments without providing financial information. It is one of the top-rated payment gateways that allow users to send or receive payments across the globe with just an email address instantly.

It is very easy to buy or sell using your mobile phone on any merchant website or app. Paypal operates in 203 countries and it supports widely used credit cards like Visa, Mastercard, Citibank, American Express, etc.

2. Amazon Pay

Amazon Pay is a payment gateway designed for Amazon merchants and shoppers. It is an easy, fast and secure payment solution that helps people in 8 countries as of now. Amazon payments come with two different packages – log in and pay for shoppers, and pay with Amazon for merchants.

This payment gateway is designed to provide a smooth shopping experience for both online retailers and sellers. Amazon Pay is loaded with great features and tools that attract customers and encourage them to shop more, make their shopping process streamline, and improve customer engagement and loyalty via saved payment details for faster checkouts.

3. Skrill

Skrill is one of the well-known payment gateways around the world. Skrill understands modern payment demands when it comes to payment processing and money transferring. Skrill started in the year 2001. Now, Skrill has many top companies as their customers using their innovative solutions in their businesses.

Skrill is recognized and awarded by many top companies such as Deloitte Technology Fast 50 Award, B2B EGP Award, and several others. It is one of the successful UK-based payment gateways that supports over 30 different currencies, enabling customers to purchase products and services worldwide.

4. 2Checkout

2Checkout is a popular global payment gateway that allows businesses to accept online payments from buyers around the globe. It has many features and localized payment options that help both merchants and customers to make the payment process streamlined.

It is the US-based payment gateway that supports multiple payment methods and transactions worldwide. It is secure and reliable, More Than 50,000 merchants use the 2Checkout payment gateway worldwide. It supports 8 different payment methods, 15 languages, and 87 different currencies in global markets.

5. Authorize.Net

Authorize.Net is a global payment gateway that provides strong infrastructure and security to ensure smooth, fast, and secure transfer of transactional data. It handles the routing of transactions, albeit in an online setting without software installation, just like the card swiping machine.

It has a merchant base of over 370,000 around the world. It helps to accept payments securely, providing a streamlined experience, enabling scaling, and a number of other value-adding features. It’s a fully integrated electronic check payment system that accepts and processes payments from other bank accounts through the user’s website or the Authorize.Net’s virtual terminal.

Whether you are running a little startup or a big company, no matter what, you will always need to take payment online. And for that, you’ll always need a good payment gateway, which will ultimately transfer the money to your account.

The number of internet users is increasing very fast. Many people like to get their payments online. E-Commerce businesses are taking positions in Bangladesh. So, the necessity of online gateway systems is so important. Nowadays we can get payments crossing the country’s borders through online payment gateways.

How Easy is it to Integrate with Online Payment Gateway?

The choice of payment gateway in Bangladesh there is vast. There’s no need to reinvent the wheel when deciding on how to create a payment gateway for a website:

you can go with hosted and non-hosted gateways. Find ready modules to integrate into your site. Build your own if you wish to be more creative and integrate payment into a website that differs from off-the-shelf offerings. Some of the off-the-shelf services charge per transaction and some – have a fixed cost on a monthly basis. Some are flexible with the businesses they work with while some have restrictions.

What is the Most Cost-Effective Payment Gateway in Bangladesh

Commonly confused as Payment Gateway, bKash, Rocket & Nagad are the most common MFS used in our country right now. Some of us may mistake MFS as an online payment gateway, but the clear method remains the same. The payment gateways are the way to use those payment processors.

SSL Commerce and AamarPay are the biggest online payment gateways to use when it comes to the online payment system in Bangladesh. But the most cost-effective one is the “Paddle”. It saves you the setup fee and there isn’t any annual fee either. To top that, the per-transaction charge is only 1.6% of the transacting amount.

WrapUp BD – Most Friendly eCommerce Solution in Bangladesh

Payment gateway in Bangladesh is not a problem in the running business evolution. Wrap UP BD has been the best online platform user since our launch. Not only do we sell packaging items, we also play a very essential role in the entrepreneur evolution.

We help the businessmen make things easier for their packaging, thus our business sector gets polished. Which sets a standard for our country’s business system. So if you are launching a startup on the platform, do consider consulting with us.

A platform is a business model that creates value by facilitating exchanges between independent groups, which usually brings together customers and producers. Platforms create communities and markets that allow users to interact and transact through network effects. The shift to digital and advanced technology in commerce has changed the way we do business, creating both resources and opportunities for business doers.

Many businesses make the process of choosing a platform into account as their business foundation. That’s absolutely right! Now, building an eCommerce website is not difficult, but if you start with the wrong eCommerce platform, it’s going to harm your business soon.

Best eCommerce Payment Gateway in Bangladesh to Trust