What are some of the common problems I encounter when using Bangladesh Payments?

There are some common problems that users and merchants may encounter when using payment platforms in Bangladesh. Below are the main challenges and suggestions to address them:

I. Infrastructure constraints

  1. Network stability issues
  • Uneven mobile network coverage (especially in rural areas)
  • 4G penetration only about 50% (2023 data)
  • Recommendation: choose a payment app that supports offline transactions (e.g. bKash's USSD feature)

  1. Interruption of electricity supply
  • Average annual power outage exceeds 100 hours
  • Solution: Merchants should be equipped with UPS backup power supply

II. Bank account penetration

  1. Basic data::
  • Adult bank account holding rate 58% (World Bank data 2021)
  • ATM density: 8.2 per 100,000 (55 in China)

  1. alternative::

III. Fragmentation of payment methods

  1. Mainstream Channel Comparison

    • Mobile wallets (bKash/Nagad/Rocket)::
      • Coverage of 921 TP3T digital transactions (RBI 2023 data)
      • Single day limit: Tk 25,000 (≈ US$ 210)
    • card payment::
      • Visa/Mastercard penetration rate only 11%
      • Local "Q-Cash" networks are more commonly used but have poor international compatibility

  2. Cross-border Payment Pain Points::

    • SWIFT transfers take an average of 3-5 working days, with fees as high as 7-12%

IV. Regulatory compliance challenges

  1. Authentication requirements::

    • NID (National Identity Card) mandatory binding but not held by 15% population in rural areas (BBS survey data)

  2. Exchange control restrictions::
    | Transaction Types | Limitations | Documentation Requirements |
    |—————-|————————|————————–|
    | E-commerce Import Payment | ≤$500/month Free Declaration | PAN Tax Code + Bank Pre-qualification |
    | SaaS Subscription Payment | ≥ $200/pen requires RBI approval | Service Contract + Proforma Invoice |

V. Obstacles to user habits
1.cash-dependence syndrome

  • Frequency of ATM cash withdrawals reached 4.2 (urban)/6.8 (rural) per month
  • bKash's cash top-ups and withdrawals as a percentage of 65% transaction volume

2.Responding to Security Concerns

  • SIM hijacking fraud increased by 37% annually (2023 Police Authority data)
    -Recommended measures:
    ✓ Enable biometric logins (e.g. Nagad's fingerprint verification)
    ✓ Set secondary confirmation threshold (>5000 taka requires OTP+SMS)

VI. Difficulties in technology docking
1.API instability issues
-Local platform average response time over 800ms (international standard <200ms)
Recommended to use REST API instead of SOAP protocols

2.Differences in liquidation cycles
|Platform Type |Settlement Period |Minimum Settlement Amount |
|—————|————-|————-|
|Mobile Wallet |T+1 Business Day │ Tk.10,000 │
│Bank Gateway │T+3 working days │Taka 50,000 │

It is recommended that businesses set aside a cash flow buffer of at least 5 days. Solutions that require more detail on a particular aspect can be specified.