Top 12 Payment Gateways in Bangladesh: Best Online Payment Solutions for 2024

Bangladesh has developed immensely in recent years, and with that, there has also been significant economic development. Citizens of Bangladesh have more purchasing power than ever before, increasing the demand for retail goods throughout the country.

Following the wind, businesses are looking for innovative solutions to properly manage their payments and increase their revenues to address this demand. Thus, many Fintech companies have looked to serve that purpose and fill the demand by providing payment gateway services.

Read on to find out the top 12 payment gateways in Bangladesh so you can choose the best one for your purposes.

Before that, here are a few things you need to understand about Payment Gateways.

A payment gateway is a technology that merchants use to accept their customer's debit and credit card purchases. The main purpose of a payment gateway is to gather the transaction data and ensure the funds are available in a customer's account and the merchant gets paid successfully.

Note that:

This term is not only limited to physical applications such as a brick and mortar stores but also online stores.

They use a point of sale or POS system or card reader to process the transaction in physical stores.

Online stores are the checkout portal where customers enter payment info such as credit card details.

Essentially a payment gateway collects the payment information of a customer and encrypts it for processing later on.

The payment gateway is a critical component of the electronic payment processing system. It deals with customers directly sending their information to the merchant bank, where the transaction is processed.

Payment gateways are rapidly evolving as customers get savvier or acquire new tastes. Before, customers used to swipe their credit cards into terminals, and paper signatures were required.

However, with the advent of chip technology, the signatures could be dispensed in favor of a PIN or personal identification number. Nowadays, you can use your phone to make contactless purchases.

Online payment gateways require an API that allows the website to communicate with the network, where an in-store POS machine will work through a phone line or the internet.

There is a difference between a payment gateway and a payment processor. A payment processor is a service that connects the customer's bank to the merchant's bank and processes the actual movement of funds.

You can imagine them to be two halves of a transaction. A payment gateway collects the customer's information. The payment processor uses that information to contact the customer bank and the merchant bank, debiting one and crediting another.

Before knowing about payment gateways, you need to understand their types. There are three types of payment gateways as follows:

Redirect

The payment gateway takes the customer to a payment processor to process the transaction.

Hosted (Off-site)

The customer makes a payment at your site or your location, and the payment information is forwarded to the payment provider's servers for processing.

Self-hosted (On-site)

The entire transaction takes place on your servers.

If you are a business or an online store, you need a payment gateway to accept online and credit card payments. Payment gateway technology circulates financial data to necessary entities so that payments can be authorized and funds can be transferred from customer to merchant.

They can also be used to refund purchases if required.

It can be difficult to choose the best payment gateway in Bangladesh for your business. You should make sure that the customer payment process is simple, quick, and secure. As a result customers will feel more trusted and be more likely to return in the future to buy more products or services.

So, consider these factors before choosing the payment gateway

1. Trustworthiness

To process payments successfully, each payment gateway needs to control a three-step procedure. Security, settlement, and authorization are the three steps in the procedure. All of these operations must be managed by a reputable payment gateway, and it must guarantee a quicker processing time.

2. Currency Support

Many firms in Bangladesh today deal with clients from outside who require a payment gateway to provide hassle-free currency exchange without extra charges.

3. Payment Options

Customers in Bangladesh have access to a variety of payment options, including net banking, card payments, mobile/digital wallets, and QR payments. Businesses must offer a range of payment options to improve the customer experience.

4. Market connectivity

For a smooth client experience, every market must be integrated with various processes. Payment gateways must offer multiple integration solutions for various devices and markets.

5. Security

Regardless of the type of transaction, cash transfers need to be highly secure. A payment gateway must guarantee that the customer's funds are completely safe and not liable for any fraud. They must abide by PCI DSS security requirements and should have additional internal security measures in place to protect customer data.

6. Pricing and Extra Charges

Payment gateways should be able to handle various procedures; ideally, each user pays an additional fee depending on the type of transaction.

Following cost types:

1. Annual fees
2. Security fees
3. setup cost
4. Commission charge
5. Refund charge

A company needs to be aware of the total cost of a payment gateway and make sure there are no extra charges.

As electronic and online payments have become the standard in Bangladesh, various fintech companies have emerged to provide payment gateway services. This has made the market more competitive and has helped customers and merchants alike.

Here is a list of the top 12 payment gateways in Bangladesh:

1. SSLCOMMERZ

SSLCOMMERZ was founded in 2010 and is the oldest and largest digital payment gateway in Bangladesh. Since its inception, it has been a market leader, and Bangladesh Bank awarded it for its outstanding performance and reliability.

Fees:

• Step Fee of 15000 BDT
• 5 % commission for Visa and Mastercard Transactions
• 2%-4% for internet and mobile banking

Requirements:

• VAT certificate
• TIN certificate

Privacy Policy:

• PCI and DSS compliant
• Only collects info explicitly provided by the user

Refund Policy:

• No refund charges
• Refund disbursed within 5-7 working days

Terms and Conditions:

• Help them understand their merchant and SSL user obligations, chargebacks for unauthorized transactions, refunds, and shipment rules.

Contact Details:

• Phone: +880 961 222 1000, +880 2 4831 6009
• E-mail: info@sslwireless.com

2. PortWallet

PortWallet is one of the quickest and most efficient payment gateways in Bangladesh. They have an inbuilt API system and internal processing solutions.

Fees:

• Set up fee is BDT 5,000 for starters and BDT 20,000 for businesses.
• BDT 24,000 for businesses annually
• Credit/debit card charges for starter- 3.8% + BDT 2 and for business 3.5% + BDT 1
• Online charges for starter 3% + BDT 2 for business 2.5% + BDT 1

Requirements:

• TIN Certificate
• VAT Certificate

Privacy Policy:

• PCI and DSS compliant
• 3 tier security and instant notifications

Refund Policy

• No extra charges for refunds

Terms and Conditions:

• General guidelines, account creation, and regulating laws If you violate any of them, you will be penalized.

Contact Details:

• E-mail: support@portwallet.com

3. Aamarpay

Aamarpay provides fast and safe payment solutions that are very popular among merchants due to their low fees and quick checkouts. This has made them a leading platform in Bangladesh. They also have a host of API that makes transactions safe and secure.

They offer four plans, aamar SME, aamar B2B, aamar Enterprise, and aamar Corporate.

Fees:

• There are 4 types of plans ranging from BDT 4,000 to BDT 15,000
• No annual fees
• 55% to 3.25% commission for Visa and Mastercard
• 8% to 2% commission for mobile payments such as bKash and Rocket.

Requirements:

• National ID or Passport
• TIN Certificate

Privacy Policy:

• Instant notifications upon payment
• Three layers of security
• They prioritize keeping your info safe

Refund Policy

• Quick resolution of disputes and return of money as soon as possible
• No charges on returns

Terms and Conditions:

• General identity, criteria for eligibility, services, ownership, fees, and other costs. One must not violate this.

Contact Details:

• Phone: 09643250250
• E-mail: integration@aamarpay.com

4. ShurjoPay

Shurjo pay is another popular payment gateway in Bangladesh. They were the first to receive a PSO license from Bangladesh Bank. They are popular amongst both customers and merchants. Their sign-up fee is higher than others, but they do not charge annual maintenance fees.

Fees:

• The sign-up fee for Corporate customers is BDT 10,000, and Integration Fee is BDT 10,000
• The sign-up fee for Education industry customers is BDT 10,000, and Integration Fee is BDT 5,000
• No annual or monthly fees
• Charges for Visa and Mastercard: Corporate customers pay 2.5%, and the Education industry pays 1.5%
• Charges for American Express: Corporate customers pay 3.5%, and the Education industry pays 1.5%
• Charges for Mobile Wallets (bKash, Rocket): Corporate customers pay 2.0%, and the Education industry pays 1.5%

Requirements:

• National ID
• TIN Certificate or VAT Certificate

Privacy Policy:

• Customer data is highly secured, and no information is shared with 3rd
• Proper verification and validation are required for transactions

Refund Policy

• Customers are required to provide a proof before being reimbursed.

Terms and Conditions:

• The following terms and conditions ("TERMS OF USE") apply to the use of the website www.shurjopay.com.bd and any other linked pages, products, software(s), API keys, features, content, or application services (including but not limited to any mobile application services) offered from time to time by any shurjoPay group company ("shurjoPay" or "WE" or "OUR" or "US") in connection therewith (collectively, "WEBSITE").

Contact Details:

• Phone: 09643207001
• E-mail: info@shurjopay.com.bd

5. Easy Pay Way

Easy Pay Way is one of Bangladesh's most secure and flexible payment gateways. They have 4 basic plans, Basic, Starter, Professional, and Corporate. Their commission rate is on the quote to get an adjustable-rate based on your transaction volume.

Fees:

• Setup Fee: Basic BDT 5,000, Starter BDT 10,000, Professional BDT 18,000, Corporate BDT 20,000
• Annual Fees: Basic has no yearly fees, Starter BDT 500, Professional BDT 2,000, Corporate BDT 2,500
• Per transaction commission: Basic 6.5%, Starter 5%, Professional 3.9%. For the corporate, you can ask for a quote.

Requirements:

• TIN Certificate
• Trade License

Privacy Policy:

• Although they may provide your information to 3rd parties, it is usually done safely and with proper vetting.

Refund Policy:

• The refund is initialized as soon as the refund option is selected but may take a few business days to reconcile.

Terms and Conditions:

• Guides you through the company's regulations, terminations, requirements, restrictions, and interpretations.

Contact Details:

• Phone: 01841887725, 01819231922
• E-mail: support@easypayway.com

6. Paddle

Paddle is a prominent payment gateway that operates both locally and globally. They have both B2B and B2C clients, and they work exclusively on SaaS, which makes them a big player. The best thing about this platform is that there is no sign-up fee or monthly charges.

Fees:

• No sign-up fees
• No monthly fees
• Commissions per transaction can be decided after discussion

Requirements:

• VAT or Sales Tax Certificate
• Trade License

Privacy Policy:

• They are very strict about protecting customer information, and it is one of their top priorities.

Refund Policy:

• Their refund policy is very strict, and there needs to be proof before refunds are initiated.

Terms and Conditions:

• Chargebacks, termination, privacy, tax, refunds, laws, responsibility, and obligation are all covered. These should not be violated.

Contact Details:

• Phone: (844) 723-5163
• E-mail: help@paddle.com

7. Payoneer

Payoneer is a cheap and reliable online payment gateway available in over 200 countries worldwide. It is most popular amongst freelancers in Bangladesh. You can also link Payoneer to bKash to receive remittance.

Fees:

• Transaction fees of 3% are charged
• If your account is inactive for over 12 months, you will be charged a $29.95 fee

Privacy Policy

• Passwords are encrypted
• All user data is encrypted
• Secure Firewalls

Requirements:

• Passport or National Identity Card

Refund Policy:

• Standard refund policy

Contact Details:

• Phone: 1-888-290-3990
• E-mail: CustomerServiceManager@Payoneer.com

8. Fast Spring

Fast Spring is one of the most reliable payment gateways, especially when it comes to international transactions. If your business deals with foreign clients, this payment gateway would be perfect for you.

One of the best things about Fast Spring is that there is no long-term contract involved. They are perfect for eCommerce and have allowed SaaS companies to increase revenues by 30%.

Fees:

• No sign-up fees and contracts
• 9 % per transaction or 5.9% + $.95 per transaction

Requirements:

• GST/ VAT Certificate/ Tax Exemption Number/ Driving License.

Privacy Policy:

• They use EU-US privacy shield frameworks when transferring personal info.
• They encrypt personal data.

Refund Policy:

• After investigating and resolving the issue, the refund is initiated
• The refund fee is $5.00
• 90-day refund limit for PayPal and 6 months for credit cards

Terms and Conditions:

• Inappropriate data, gambling, piracy, adult content, and personal data policy are all covered and should not be broken.

Contact Details:

• Phone: (805) 409-9008
• E-mail: support@fastspring.com

9. Authorize.net

Authorize.net is one of the leading payment gateways in Bangladesh. They are a visa subsidiary and popular due to their strict privacy and security policies. They also provide a seamless and enjoyable online payment experience.

Fees:

• The setup fee is free
• $25 per month
• $0.1 per transaction
• $0.1 Daily Batch fee

Privacy Policy:

• PCI and DSS compliant
• Standard Data Security
• Personal Data Protection

Requirements:

• Order and Payment Info
• Contact Info
• Consumer Name

Refund Policy:

• Standard refund policy

Terms and Conditions:

• This website (the "Site") is kept up by Authorize.net (the "Company") as a service to its clients. You agree to abide by and be bound by these Terms of Use and any operating guidelines, rules, policies, and procedures that may be updated from time to time on the Site by using the Site or any current or future service(s) offered to you by the Company (collectively, the "Services") in accordance with an applicable service agreement ("Service Agreement(s)") (collectively, the "Terms").

Contact Details:

• Phone: 1-888-323-4289
• E-mail: globalsales@authorize.net

10. 2Checkout

2Checkout offers many solutions for businesses, making them one of the leading payment gateways in the country. They also provide seamless global transactions, which aids in high revenue generation for businesses. You do not need a sign-up fee or annual fee for their surfaces.

Fees:

• No setup or annual fees
• Commission per transaction: 3.9% +$0.45 and 1.5% cross-border fee

Requirements:

• VAT Certificate or TIN Certificate
• Trade License

Privacy Policy:

• EU-US privacy shield and Swiss-Us privacy shield
• Customer Information will be shared with partners

Refund Policy:

• Refunds will be accepted within 30 days of the transaction

Terms and Conditions:

• provides instructions on their cost, returns, obligations, legal obligations, delivery, renewal, etc.

Contact Details:

• Phone: +61 (2) 84172230
• E-mail: support@2checkout.com

11. PayPal

One of the most famous B2C payment gateways globally, PayPal is extremely reliable and popular. A unique aspect is that they offer peer-to-peer transactions unavailable on other platforms.

But to use PayPal in Bangladesh, you need to be registered as a foreign company.

Fees:

• For online transactions: 2.9% + $0.3
• Cross Border fees- 2% per transaction
• Micro Pricing: Domestic 5% and International 5.5%
• Domestic personal transactions are free

Requirements:

• A valid address

Privacy Policy:

• PCI compliant
• No sharing of data with 3rd party

Refund Policy:

• The refund time limit of 180 days
• Unclaimed and canceled payments will be refunded in 30 days

Terms and Conditions:

• provides you with information on their laws, regulations, general guidelines, etc. It must not be violated.

Contact Details:

• Phone: 1-888-221-1161

12. Stripe

Stripe is a global online payment API that offers both a payment gateway and payment processing. However, you will require a foreign company registration to use their services in Bangladesh.

Fees:

• 9% commission per transaction for credit and debit cards
• 1% for international cards and money conversion
• 1% for instant payments and 3.9% for global sales

Requirements:

• TIN certificate or Social Security Number
• Trade License

Privacy Policy:

• Customer information is fully encrypted and is not shared with anyone
• PCI compliant

Refund Policy:

• Standard Refund Policy

Terms and Conditions:

• Explains their rules, laws, obligations, and usage to you.

Contact Details:

• E-mail: info@stripe.com

Bangladesh has been seeing a massive increase in electronic and online payments in recent times, mainly due to the rapid development that the country is going through. This has made payment gateways increasingly important for both merchants and consumers alike.

Hopefully, this article has provided you with an overview of the payment gateway industry in Bangladesh and will help you decide if you're choosing someone to partner with.

How many payment gateways are there in Bangladesh?

There are about 7 local and three global payment gateways currently operating in Bangladesh, but the number is expected to rise.

Which payment gateway is best?

SSL COMMERZ is considered the payment gateway in Bangladesh due to its numerous awards and popularity.

Is there PayPal in Bangladesh?

Unfortunately, you can only use PayPal in Bangladesh if your company is registered as a foreign company in Bangladesh.

Is bKash a payment gateway?

Yes, bKash is technically a payment gateway, but not in the traditional sense.

What is a payment gateway, for example?

A payment gateway collects customer payment info and then encrypts it so that a payment processor can later use it to make a transaction. PayPal is one of the largest payment gateways in the world.

Does Payoneer offer a payment gateway?

Yes, Payoneer can be used as a payment gateway in Bangladesh. They have multi-currency virtual accounts that let eCommerce sellers receive funds directly into Payoneer accounts.