In terms of reach for online payment platforms, Payza certainly covers a lot of ground. We offer services in over 190 countries, much more than the majority of companies in our field.
But just because Payza is a global company, that doesn’t mean we’re one-size-fits-all. Payza is constantly looking for ways to offer the right service for the right region, depending on the circumstances. In that regard, Payza’s plans for Bangladesh are a perfect example.
Bangladesh’s Unique E-commerce Situation
Bangladesh is a country with more than 150 million inhabitants, making it the 8th most populous country on the planet, ahead of Japan, Mexico and even Russia. The median age in Bangladesh is 23, meaning that over half of the country’s population is university age or younger.
In 2009, less than 750,000 Bangladeshis had access to the internet; now that number is over 33 million, and it continues to grow rapidly. At Payza, we believe it’s about time Bangladesh’s e-commerce scene was brought up to the same level to the rest of the world.
And we’re working to help do exactly that.
Payza offers Bangladeshis their first e-wallet and online payment processing service, allowing inhabitants to send and receive money online and to shop at some of their favorite e-commerce websites. Before Payza came to Bangladesh, there really wasn’t an easy way for shoppers to pay online and no easy was for merchants to accept payments, but that’s about to change.
With a Payza account, Bangladeshis can easily add money to their online balance and then use that money to shop in some on the most popular shopping websites in Bangladesh. Akhoni.com, DirectFreshBD.com and Bikroy.com along with several other e-commerce leaders have all pledged to accept Payza payments on their sites.
“The idea behind the Payza local e-wallet system is to give everyone in Bangladesh a much easier way to use their money and to provide the final step in the true online shopping experience,” said Amar S. Magon, Chief Strategy Officer for Casada Technology Ltd., Payza’s main partner in Bangladesh.
Making Online Shopping in Bangladesh Easier
One exciting feature Payza plans to bring to Bangladesh are deposits and withdrawals that can be made right at the bank with the help of a teller. Bangladeshi Payza members with verified accounts will be able to go to their bank and instantly add Takas to their Payza online balances, and then use that money to shop online.
With specific laws in Bangladesh that don’t allow for international purchases online, Payza’s services will mean a big boost for the local ecommerce scene. Many payment processing and e-wallet companies have stayed away from Bangladesh for this reason, but Payza sees an opportunity to provide a necessary boost for this increasingly tech-savvy nation. Not only will Payza make it easier for consumers to shop online, they’ll also make it much easier for smaller merchants to operate their own e-commerce sites.
Even smaller merchants will be in Bangladesh will be able to accept secure online payments, which means they won’t need to depend on their delivery drivers or couriers to accept cash on delivery, a security concern for all parties involved.
Payza Aims to Help All Entrepreneurs in Bangladesh
“We’re extremely happy to be partnered with the biggest and best online merchants in Bangladesh. At the same time, we are also looking to sign up smaller merchants and entrepreneurs that are just getting set up in e-commerce, whether they are shop owners or freelancers,” said Firoz Patel, EVP of Strategic Partnerships and Corporate Affairs.
“There is an e-commerce market in Bangladesh that is on the cusp of a major boom. There is a lot of freelance work and outsourcing work being done here, and these freelancers would highly benefit from the service we are offering,” says Patel. “In this new internet age, resourceful workers need an easy solution to accept online payments if they hope to take advantage of every opportunity. Without a tool like Payza, freelancers and self-employed professionals had no real way to accept lucrative work from countries in Europe, Asia and America. Thanks to Payza, Bangladeshis can look forward to playing a bigger role in an increasingly connected world.”