Summary of payment methods in Bangladesh (2025 latest edition)

Below is a summary of the main payment methods in Bangladesh, covering both traditional and emerging payment channels:

I. Bank transfers and electronic payments

1. bKash

   • The largest mobile financial service in terms of market share (part of BRAC Bank), supporting money transfers, bill payments, online shopping and more.
   • Users operate via USSD code or APP, and need to bind their mobile phone number.

2. Nagad

   • Government-supported mobile wallet (in cooperation with the postal service) offering low-fee transfers and social security disbursements.

3. Rocket (Dutch-Bangla Bank)

   • A bank-based mobile wallet that supports ATM cash withdrawals, merchant payments and microfinance.

4. Upay (United Commercial Bank)

   • UCB launched a digital wallet that integrates utility bill payments and online mall payments.

5. Nexus Pay

   • A central bank-led instant interbank clearing system that supports real-time interbank transfers.

6. Credit/debit cards

   • Visa/Mastercard has a low penetration rate and is mainly used for middle- and high-income groups and international e-commerce; local cards such as Q-Cash (QR code payments) are gaining popularity.

II. Cash and correspondent banking services

1. Cash on Delivery (COD)

   • Mainstream e-commerce method (accounting for 80%+ orders) due to consumers' lack of trust in online prepayment.

2. Agent Banking

   • Common in rural areas, access and remittances are done through offline agent locations (e.g. DBBL Agent Banking).

III. Cross-border and international payments

1. SWIFT/Wire Transfer

   • Commonly used by enterprises in foreign trade, but the cost of personal use is high and the process is complex.

2. PayPal (Partial access)
   Collections are limited to corporate accounts only; individual users are required to withdraw funds to their local bank cards via a third-party platform.

3. Skrill / Neteller: for international game top-ups or freelance collections.
4. Crypto (grey area): some young people use stablecoins such as USDT for cross-border transactions.

IV.Government policy on the regulation of payments

-Must comply with the KYC regulations of the Central Bank of Bangladesh (BB) and all e-wallets must be authenticated.
-Rollout of National Payment Switch Bangladesh (NPSB) from 2023 to integrate fragmented payment systems.
-Cross-border inward remittances must be declared through official channels (otherwise there is a risk of freezing the funds).

If more specific information is required for a particular area (e.g. rate comparison/access process), further clarification can be added

Okay, here's a further breakdown of information on Bangladesh's payment system, coveringRate Comparison, Access Process, Industry Trendsand other practical details:

V. Comparison of rates and limitations of mainstream payment methods

Note: Exchange rates fluctuate widely, real-time enquiry is recommended; some services have additional restrictions on non-resident accounts.

VI.How to access local payments in Bangladesh? (Take e-commerce as an example)

Step 1: Selection of partners
-Direct interface: Merchant agreement with bKash/Nagad etc. (local company qualification required)
Through the Aggregate Payment Gateway.
-Local:SSL Wireless,ShurjoPay
International: 2Checkout, Payssion supports the collection of local wallet payments.

Step 2:KYC Material Preparation
Required documents included:
✔️Trade licence
✔️TIN certificate (tax registration)
✔️ copy of director's passport + photo
⚠️ Foreign companies are required to apply for an additional PAYMENT SYSTEM OPERATOR licence from the Central Bank (BB).

Step3 Technology Integration API Documentation Example (bKash).

Example of # initiating a payment request 

import requests

url = "https://api.bkash.com/tokenized/payment/create"

headers = {"Authorization": "Bearer {API_KEY}", "X-App-Key": "APP123"}

data = {

    "mode": "0011", # instant payment code  

    "amount": "500",

    "currency": "BDT" 

}

response = requests.post(url, json=data, headers=headers)

→ Test Environment Sandbox provides simulated trading flows

VII.Industry Dynamics and Challenges 2024

✅ Growth Points:
-Telegram embedded payment pilot (supported by Nagad)
Alipay + WeChatpay begin to expand the Chinese tourist scene.
The rise of BNPL services (local platforms such as Loanify).

⚠️ Risk Alert:
-High incidence of e-wallet fraud (SMS phishing common)
-Delays in cross-border settlements due to foreign exchange controls (especially for RMB channels)

🚀 Future Directions:
Biometric authentication (e.g. fingerprint payment pilot), CBDC project "Bangla Pay" in progress.

If you need an in-depth analysis of a specific aspect (e.g. how to solve the FX withdrawal problem), you can continue to expand.