As Bangladesh continues to move forward, an important question remains—are freelancers and online entrepreneurs truly getting the facilities they need?
In 2026, Bangladesh is rapidly progressing toward a cashless society. Over the past few years, the country has seen remarkable growth in mobile financial services (MFS) and internet banking. However, there is another side to this progress: both customers and entrepreneurs are still facing various challenges when it comes to using payment gateways.
What Is a Payment Gateway and Why Is It Important?
In simple terms, a payment gateway is a technological solution that facilitates the transfer of money from a customer’s bank account or card to a merchant’s account. It works like a virtual point-of-sale (POS) terminal.
In Bangladesh, popular payment gateways include SSLCommerz, ShurjoPay, AmarPay, as well as services from bKash and Nagad.
Major Problems in the Current System
At present, digital payments in Bangladesh face five major challenges:
a) Transaction Failure
Sometimes, money is deducted from the customer’s account but does not reach the merchant. This is known as a “pending” or “failed” transaction. It creates trust issues between customers and sellers.
b) Refund Complications
Refunds are one of the biggest pain points. Although e-commerce policies require refunds when products are not delivered, it can take 7 to 21 working days due to gateway and banking complexities.
c) High Charges and Settlement Fees
For small entrepreneurs, payment gateway fees are a major burden. Around 2% to 4% is deducted per transaction. Additionally, settlement (transferring funds to the merchant’s bank account) takes 24 to 48 hours, which affects business cash flow.
d) Security Risks and Cyber Fraud
Incidents of phishing links and OTP theft are increasing. Even though payment gateways have two-layer security systems, hackers often exploit user unawareness.
e) Cross-Border Payment Limitations
Bangladeshi users still face difficulties when purchasing international software or services. Dollar endorsement limits and restrictions on dual-currency cards remain major barriers.
Why Do These Problems Occur?
Analyzing these issues reveals three main causes:
Weak Infrastructure:
Many banks still use outdated Core Banking Systems (CBS) that cannot efficiently handle real-time API requests.
Unstable Internet Connectivity:
Even minor internet fluctuations during transactions can cause gateway failures.
Lack of Coordination:
There is often a gap in data exchange between banks, payment service providers (PSPs), and merchants.
Effective Solutions to These Problems
To ensure a seamless digital payment experience, the following steps are essential:
1. Introduce Real-Time Refund Systems
Under the guidance of Bangladesh Bank, a centralized “refund hub” could be developed. This would automatically return money to customers as soon as an order is canceled, increasing trust significantly.
2. Improve Interoperability
Transfers between services—such as from bKash to Rocket or from Nagad to bank accounts—should be easier and more affordable. The government’s Binimoy platform needs to be more user-friendly and error-free.
3. Use Blockchain Technology
Blockchain can ensure transparency and security in transactions. Each transaction would be stored in an immutable ledger, reducing the risk of fraud.
4. Reduce Charges
Payment gateway fees for small and medium enterprises (SMEs) should be reduced to below 1%. This would encourage more businesses to adopt digital payments.
5. Increase Customer Awareness
Banks and payment service providers should run regular awareness campaigns. Customers must be educated not to share OTPs or PINs.
Future Vision: A Smart Payment Ecosystem
In the future, relying only on cards or OTP-based systems will not be enough. Biometric payments (fingerprint or facial recognition) and QR code-based systems need to be widely adopted.
Even small rural shopkeepers should be able to receive payments through a simple QR code. Creating such an inclusive ecosystem is essential for the country’s digital growth.
Conclusion
A payment gateway is not just a piece of software—it is the bloodstream of the digital economy. Any disruption in this system affects the entire economic structure.
A strong and secure payment ecosystem can only be built through coordinated efforts between the government, the central bank, and the private sector.
Our Advice
If you are an online entrepreneur, always evaluate a payment gateway before choosing it. Carefully check their support system, settlement time, and security features.
Remember, a good payment gateway can eliminate half of your business worries.