e payment method
TRANSCRIPT
Summer 2015
Available E Payment System
A case study on online shopping and Dhaka Based Shops in Bangladesh
Term Paper
MIS 101
Submitted to
Nymatul Jannat Nipa
Adjunct Faculty MemberDepartment of Business Administration
East West University
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East West University
Semester : Summer, 2015
Course : Introduction to Management Information System
Course Code : MIS 101
Section : 7
Submitted To,
Ms. Nymatul Jannat Nipa
Adjunct Faculty Member
Department of Business Administration
East West University
Submitted By,
Name: ID:
Mishuk Datta 2014-1-10
Rizvi Rahat Khan 2014-2-10-
Shuvangkar Chakraborty 2014-2-10-
Al- Amin Sojib 2014-2-30-
Usama Bin Khair 2014-1-10-
Date of Submission: 9th August, 2015
Acknowledgement
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We would like to express our deepest gratitude to our honorable faculty, Miss Nymatul
Jannat Nipa for guiding us writing this paper on Available E Payment System A case study
on online shopping and Dhaka Based Shops in Bangladesh. We would also like to thank the
respective institutions who helped us with providing information.
Table Contents
SUBJECT Page
Key Terms 1
Perspective: Bangladesh and Global 2
Available Methods 2
Available e Shops 4
Popular Mobile Banking brands 12
Recommendation & Conclusion 14
Reference 15
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Available Electronic Payment Method
A case study on online shopping and Dhaka Based Shops in Bangladesh
Key Terms
A payment system is any system used to settle financial transactions through the transfer of
monetary value, and includes the institutions, instruments, people, rules, procedures, standards,
and technologies that make such an exchange possible.
E Payment: E payment is a subset of an e-commerce transaction to include electronic payment
for buying and selling goods or services offered through the Internet. Generally we think of
electronic payments as referring to online transactions on the internet, there are actually many
forms of electronic payments. As technology developing, the range of devices and processes to
transact electronically continues to increase while the percentage of cash and check
transactions continues to decrease. In the US, for example, checks have declined from 85% of
non-cash payments in 1979 to 59% in 2002, and electronic payments have grown to 41%.
COD: Cash-on-Delivery, paying cash after receiving goods/product.
Perspective: Bangladesh and Global
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Now a day, internet plays a big role in our daily life, it makes our works easier. Internet has turned the
world into a global village. We can order any product from China, Japan or even USA using online shopping
website e. g, Alibaba.com. In our country online shops or virtual stores are increasing day by day. But unlike
other country, our payment system has not developed. Though we have internal payment systems, we are not
able to use international gateways like Paypal. We have to depend on bank transfer or costly money transfer
platforms
Available Methods
o Cash: Most of the shops accept only cash while a few number of shops accept cash as
well as other options.
o Cards: There are many types of card are available in Bangladesh. Most of them are Debit and
ATM cards and credit cards. Some of the popular cards are
VISA Classic by City bank
DBBL Nexus Classic by Dutch-Bangla Bank
E cash by Islami Bank
Alfalah Prepaid Payroll Card by Bank ALFALAH
American Express express Gold Credit Card by City bank
Gold International by National Bank
MTB Visa Electron Debit Card by Mutual trust bank
VISA classic & Gold by BRAC Bank
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o Mobile Banking
bKash by BRAC Bank
DBBL mobile by Dutch Bangla Bank
Mcash by Islami Bank
MyCash by Mercantile Bank
Ucash by United Commercial Bank Ltd
Easy Cash By Prime Bank
FastCash by First Security Islami bank
o Online Terminals
Paypal
Easy.com.bd
Surjomukhi Pay
SSL Commerce
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Available E shops in Bangladesh
o Priyoshop.com
PriyoShop.com offers completely hassle-free shopping experience through secure and trusted gateways in Bangladesh. They offer you trendy and reliable shopping according to their customers’ choise. PriyoShop.com has been launched in February 2013. It is an initiative of the leading IT firm Splendor IT. PriyoShop showcases products from all categories such as clothing, footwear, jewellery, accessories, electronics, appliance, books, restaurants, health & beauty, and still counting! Their collection combines the latest in fashion trends as well as the all-time favorites. In tune with the vision Digital Bangladesh, PriyoShop.com opens the doorway for everybody to shop over the Internet. They provide on-time delivery of products and quick resolution of any concerns.
Available method:
Cards
Visa
MasterCard
Amrrican Express
BRAC Bank
DBBL Nexus
Citytouch
Bank Asia
Islami Bank Bangladesh
Mobile Banking
Qcash
Fastcash
MTB
bKash
DBBL Mobile
Mcash
MyCash
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o Daraz.com.bd
Global e-retail platform, Daraz is a project of rocket internet and they started their business in
Bangladesh in November-December, 2014. Beside Bangladesh , the company has business in
Cameroon, Egypt, Ghana, Ivory Coast, Kenya, Morocco, Nigeria, Pakistan, Uganda .
Yellow, Noir, Symphony, The Body Shop, Intel, HP, Acer, Huawei, Samsung,
Blackberry,Walton, Aranya, 6 Degree Mobile, ShadaKalo, Apple, HTC, Lenovo, Logitech,
LG, General, Fastrack, MAC, Nikon, Canon, Epson, Ecstacy, Panasonic, Doors, Adidas, Nike
Brother, etc are just a few of the global and local leading brands who have already set up e-
stores with daraz.com.bd
Payment Method
COD
bKash
DBBL Nexus
o WATCHGEN.COM
The Watch GEN is the first Bangladeshi Amazing Brand online Watch Shop in
Bangladesh. The Watch GEN is a new Generation Fashionable Watch, Leather Belt
Watch, and Water Prof Brand Watch Seller in Bangladesh with Free Delivery.
Payment Method:
VISAMasterCardQcashDBBL Nexus
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BRAC BankCity BankbKash
o SohojShopping.com
SohojShopping.com is a young and vibrant online shopping mega store (Retail & Wholesale)
that aims to serve good quality branded products. It serves online/internet based shopping by
which customers can shop anytime from anywhere around the world and provides home/office
delivery for all kinds of products through third party courier services. At present, it ship
Bangladesh only. Visioning with the world-class service of excellence for business to business,
business to customer and customer to customer locally and internationally,
SohojShopping.com starts its endeavor locally in March, 2013. Gradually, SohojShopping.com
would be one place for all legally approved products to serve for better human
living.SohojShopping.com tries to achieve the highest level of Customer Satisfaction by
delivering the most (easiest) sohoj way, possible. It accepts payments via City Touch,
American Express, Q-Cash, Visa Card, MasterCard, DBBL Nexus, Brac Bank Debit Card or
Bkash. It also accepts payment via "cash on Delivery" at the time of the delivery of the
product.
o Bdhaat.com
Bdhaat.com is a pioneer and leading professional online shopping company in Bangladesh.
Bdhaat strongly believes in quality, service and commitment. Bdhaat is well renowned,
widely recognizes fast growing company for its fresh and high quality products with a very
low-cost. In addition, Bdhaat has various types of products in its collection that covers almost
all human needs. Bdhaat is the first company in Bangladesh providing 24 hours a day, 7 days a
week and 52 weeks a year phone, chat and email support for its customers. Bdhaat believes in
strong relationships with its customers maintaining the commitments without any exception.
Bdhaat.com believes in providing services rather than focusing in business. It offers a lot of
garments products, agro and processed foods, shrimps, chemicals and so on. People can pay
their purchases using VISA, master card, DBBL Nexus, Discover, American Express and
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Bkash account without any Extra charges. People can pay by using their paypal account as
well.
o BanglaMart24.com Banglamart24.com is a leading online store where customers all over the world can buy their
products anytime. It is also a marketplace where merchant and partners can sell their products
and services. It is a sister concern of TechLabPro a software outsourcing company in
Bangladesh.
Their aim to using the power of internet making our busy life easy and provide quality of
product and service to our customer in the best price. They want to make shopping and lifestyle
easy and comfortable.
They deliver products across the country as well as International. For outside Bangladesh they
will deliver clothing items, leather items, jute items and handicraft.
Key Features
- 7 Days Replacement Warranty.
- (10 am-12 am) customer support on cell +88-01728038443-2.
- Cash On Delivery for specific products.4
- Delivery in Dhaka city within 1-3 working days.
Payment Method
1. VISA Card
2. Master Card
3 QCash
4. DBBL Nexus
5. DBBL Mobile Banking
6. City Bank
7. bKash
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8. Brac Bank
o www.ehatbazaar.com
It is the first online e-store in Bangladesh to offer fast delivery on all
roducts.Their partners are reputable companies with a passion for providing you with the best
quality products at the lowest possible prices. This means that all items are supplied within
Bangladesh which creates jobs locally and supports our economy.
Their online e-store brings the market, the bazaar, to your home. Sit in the comfort of your
own drawing room and order your items for delivery. It only takes a few clicks and your new
item will be delivered to your doorstep. Our premise is simple. Save time by shopping from
home, and use the time you save on the important things in life. That means more time with
your family, your children and your friends.
They aim to make people’s lives simpler. They understand that going shopping can mean a lot
of stress. Getting the children dressed and ready. Taking the car out or finding a 4stroke.
Spending money on fuel. Waiting in traffic. Finding a space and paying for parking. Shopping
around and walking for hours and hours, and then carrying heavy bags back home in the hot
weather or the rain. We take away all the hard work in just a few clicks.
Payment Method
1.Master Card
2.VISA Card
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o Shwapno On 0ctober 2008, Shwapno embarked on its journey with a network of 40 outlets across Dhaka, Chittagong and Sylhet and till date it holds the position of the largest neighborhood supermarket chain in the Bangladesh.The inception of Shwapno came from the inspiration to connect rural farmers and local suppliers to the end customers in a modern and amiable environment. Today Shwapno has become the sturdy bridge between producers and consumers, providing the former worth for their produce and latter value for money. Expert teams scour through Bangladesh picking out the best possible perishables and source the highest quality of commodity items, chilled produce, personal and household items and much more. Shwapno is supported by numerous small, medium and large enterprises and multinationals, and this has significantly helped in ensuring it is able to provide the best possible deals to the consumer. Shwapno’s endeavor continuously ensures all its partners and clients are empowered and benefitted to the highest degree.
Product :
BakeryDAIRY- FROZENFruits-VegetablesGift VoucherGrocery Health-BeautyHouse Hold
Payment Method :
Cash
MasterCard
VISA
DDBL
bKash
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o Meena Bazar
Introduction: Meena Bazar is a well reputed retail supermarket chain in Bangladesh with International standards. It started its operation in 2002 and runs outlets in Dhaka, Chittagong and Khulna division. Every Meena Bazar outlet carries almost 6,000-8,000 products to sell. It provides convenient shopping experience, friendly customer service along with easy parking provisions for its customers. Meena Bazar is a subsidiary of Gemcon Group. It also produces organic products, dairy items, prepared food & herbal products.Meena Bazar is the first retail superstore in Bangladesh that has a website to shop online. We launched our website in April, 2012, and now we deliver in Dhaka, Khulna and Chittagong. We took this initiative to make customer life easier. Online shopping with Meena Bazar saves time and it is also very convenient for our customer as we face more and more traffic these days.At Meena Bazar we not only sell the products to the customers, we try to convey the product benefits to them too. In order to provide the customers with the best possible value for their money, we procure the products directly from the farmers, removing the middlemen, while ensuring high quality, freshness and continuous availability. Meena Bazar is also known as one of the trustworthy food suppliers of the nation. Meena Bazar is committed to deliver the best available products to the customers and is now expanding more to serve Bangladeshi customers better.
Product :
Bakery DAIRY- FROZEN
Fruits-Vegetables
Gift Voucher
Grocery
Health-Beauty
House Hold
Housewares
Meat-Fish
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Payment Method :
Cash
MasterCard
Visa
DDBL
bKash
o Agora Agora is an initiative of the renowned Rahimafrooz group that first introduced the people of Bangladesh to the concept of super market retail stores back in 2001. Agora has around 13 outlets spread across Dhaka and Chittagong. Since they have had a long established presence in the market, consumers usually relate super market shopping to Agora. Moreover, the enviable reputation for integrity, honesty and trust enjoyed by Rahimafrooz in Bangladeshi society encourages to people to shop at Agora. In terms of product displays in their outlets, Agora is way ahead of their competitorsProduct : ranging from a wide variety of fish, meat, vegetables, fruits, bakery, dairy, and grocery - it also carries a vast array of other household, grocery, personal care, and miscellaneous products. There are 30,000 different products and SKUs at any point in time in each of the Agora outlets.
Payment Method : Cash
master cardvisaDDBLbKash
o Arong
Aarong – Bengali for ‘Village Fair’ – is Bangladesh’s most popular lifestyle retail chain. This ethical brand began in 1978 as a humble means to empower rural artisans to rise above poverty. Today, with 15 retail stores across Bangladesh and over 100 fashion and lifestyle product lines, Aarong supports 65,000 artisans with fair terms of trade. Revolutionising the retail industry with high standards for quality and artistry, this iconic brand blends the traditional with the contemporary in ways thatnever cease to win consumer appealboth at home and abroad.
In 1976, when BRAC– the world’s largest development organisation – engaged a small number of rural women to produce crafts, their only buyers were a few scattered retailers in
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Dhaka. Weeks, even months would pass between supply and payment, until BRAC intervened and established Aarong to pay the rural women for their goods on time. Over the past four decades, Aarong has carved out a unique market segment for handicrafts, reviving Bangladesh’s rich heritage and impacting the lives of more than 325,000 people through 850 small entrepreneurs and the Ayesha Abed Foundation.
Product: Men Women Kids Home Décor Nakshi Kantha Wedding Jewellery
Payment method: Cash, MasterCard, Visa, DDBL, bKash
Popular Mobile Banking Brands among the users
o Dutch Bangla Bank Mobile Banking
Dutch Bangla Bank pioneered Mobile Banking in Bangladesh. It was the first bank to offer
banking facilities through a wide range of mobile phones. Mobile Banking is a Banking process
without bank branch which provides financial services to unbanked communities efficiently and at
affordable cost. To provide banking and financial services, such as cash-in, cash out, merchant
payment, utility payment, salary disbursement, foreign remittance, government allowance
disbursement, ATM money withdrawal through mobile technology devices, i.e. Mobile Phone, is
called Mobile Banking.
o bKashBangladesh’s first complete mobile financial service provider, bKash Limited, a BRAC Bank
subsidiary, launched its mobile banking operation in July 2011. bKash is designedto provide
financial services via mobile phones to both theunbanked and the banked people of Bangladesh.
The overallbKash value proposition is simple: a safe, convenient place tostore money; a safe, easy
way to make payments and moneytransfers. Fig. 1 shows the architecture of bkash
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o Ucash
UCash is a complete mobile financial service by United Commercial Bank Limited (UCBL).
UCBL received permission to operate and offer Mobile Financial Services (MFS) from
Bangladesh Bank. UCash is the brand name of the mobile financial services offered by UCBL.
UCBL strongly believes in the idea of “financial inclusion” and that banking facilities should be
accessible to all. UCash has launched its services all over Bangladesh with the intention to provide
banking facilities to the vast majority of unbanked population of the country.
UCash intends to familiarize banking facilities to those who previously were not able to access
banking services. UCash will act as a catalyst for economic development of the unbanked
population by providing prompt, fast and safe banking products and services
o Qcash
Established in the year 2000, the first third party private payment processing firm in
BangladeshQ-Cash was launched by ITCL with only 05 banks (now 35+banks) of which a
respective bank is one of the sponsor bank and another playing the role of a settlement bank. In
this manner, after 14 year of operations, Q-Cash has now become a name where banks feel proud
to join which just not only adds value but also minimizes the cost of setting up a switching system.
Moreover, it facilitates all the financial institutions to connect with each other through this
common channel. In a nutshell, Q-Cash was and is the only common platform in Bangladesh that as an
aggregator linked all the major banks and introduced payment gateway concept in Bangladesh.
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Recommendations
For achieving the best possible results from the e- payment systems we can offer some
recommendations to some online sops. These are 1) Inform users about security measures and provide
a security policy. 2) Explain what type and details of personal information are to be retained, why, and
how they will be used. 3) Provide a clear and explicit policy on privacy and make it noticeable to
users. 4) Give users control over the costs of the payment system usage. 5) Allow users to control
critical actions and information .6) Seek reputation and trust transference from reputed partners and
technology providers, and communicate trust transference to users. 7) Take measures to address risks
and inform users about these measures. 8) Interaction with the payment system should resemble users’
expectations about the payments process 9) Provide features of customization of payment
environments. 10) Provide well-designed authentication
Conclusion
With the rise of the Internet, electronic commerce is also increasingly taking place using a
transmission medium that is not under the control of the financial systems and is outside of known
geopolitical boundaries. Among various electronic payment systems in the short term, secured credit
card transactions are positioned to become the preferred method of electronic payments. But such
systems alone are not without weaknesses, since they do not address the problem of micro payments.
Issues of security and privacy need to go beyond protecting networks, to protecting and guaranteeing
digital data, and secure electronic transactions and other technology standards are expected to
increase the comfort levels of individuals and businesses in the security of transactions over the
Internet. New technologies would change the current electronic payment systems and would
ultimately provide privacy and security, but not anonymity, which magnifies potential risks of
electronic commerce.
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Reference
10 Most popular cards http://bankinfobd.com/cards
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