Description
As a business, you need to look for a few points before shortlisting payment gateways in Bangladesh.
1. Reliability
Every payment gateway must manage a three-step process to handle payment successfully. The three-step process includes authorization, settlement, and security. A good payment gateway must manage all these processes and ensure a quicker processing time.
2. Supported currencies
Today, many of Bangladesh’s businesses are interacting with overseas clients that need a payment gateway to provide hassle-free currency exchange without incurring extra charges.
3. Payment options
Many payment methods are available for Bangladeshi consumers, including net banking, card payments, mobile/digital wallets, and QR payments. Businesses must provide various payment methods to enhance their consumer experiences.
4. Market integrations
A market integration with various procedures is necessary for a seamless client experience. Payment gateways must provide multiple integration systems for different devices and marketplaces.
5. Security
Cash transfers need to be highly secure, irrespective of the mode of transaction. A payment gateway must ensure that the client’s funds are highly secure and are not vulnerable to any fraudulent activity. They must comply with PCI DSS security standards and should have additional internal safety measures to keep the client’s data secure.
6. Pricing and other fees
Payment gateways should be able to handle multiple processes; ideally, each user incurs a miscellaneous cost as per the transaction type.
Some cost types include:
Annual charges
Security charges
Setup fee
Commission fee
Refund charges
A business needs to understand the overall charge of a payment gateway and ensure there are no hidden costs.
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