Bangladesh is experiencing unprecedented growth in the number of international payments directed to the Asian nation since the introduction of localized global bank transfer services earlier this year.As a result, the country’s central bank, Bangladesh Bank, has raised the receiving limits for international transfers from $500 to $2,000 USD per transaction and streamlined the remittance process in an effort to promote and facilitate the continued flow of international funds into the country.
Payza, one of the largest payment platforms for e-commerce, corporate disbursement and remittances, was introduced to provide the emerging market with access to the same level of international monetary transfer services as is enjoyed in developed markets according to Payza CEO Alastair Graham.The Government of Bangladesh is working on a way to promote the growth of the country’s freelance IT sector internationally, says Graham who noted that his company has an important role to play in providing international payments services to this booming sector.
Made possible by the implementation of the BEFTN (Bangladesh Electronic Funds Transfer Network), the company has been able to work in concert with government and members of the country’s banking sector to bring Payza’s affordable, secure and convenient services to Bangladeshis.Before the service was launched, Bangladeshi freelancers had difficulty accessing an inexpensive, secure and efficient system for accepting international payments, stunting the sector’s growth and development.
Since the introduction of Payza’s localized service, the company was able to grow its member base beyond the estimated 10,000 IT freelancers in the country to more than 250,000 Bangladeshi members, elevating company growth beyond corporate expectations.At a recent address to the delegates of the 4th International Banking and Mobile Commerce Conference in Dhaka, Bangladesh, Dr. Atiur Rahman, governor of Bangladesh Bank, said the success of Payza global online payment platform, will allow the country to achieve its dream of becoming a ‘Digital Bangladesh.’
Payza’s is proud to be contributing to the development Bangladesh’s emerging economy and the improvement of the lives of citizens in Bangladesh, according to Graham. With services like their global online payment platform, Bangladeshis with a Payza account can receive payments from abroad into their Payza e-wallets and then transfer the funds directly to their local bank accounts; resulting in
instant savings for subscribers.Payza specializes in e-commerce processing, corporate disbursements and remittances. Its highly secure e-wallet platform provides businesses and consumers with convenient and flexible solutions for sending and receiving payments worldwide.
The company offers access to payment services in both traditional and emerging markets, as well as a host of tools and services including: fraud screening, dispute resolution, currency exchange, global payouts and disbursement services.
With over nine million members, Payza offers its services around the world in 21 currencies, with more than 75,000 merchants.
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