Friday, February 22, 2013

E-Commerce Gateway opened by Bangladesh Bank

Another NEWS Review about the Launching of the National Payment Switch (NPS) in Bangladesh to facilitate online transactions in the country is the topic of this post. The Bangladesh Bank opened this gateway which will facilitate the e-commerce industry in country. This system will help to bring credit / debit cards of all the banks under a single network. The central bank (Bangladesh Bank) launched the National Payment Switch in December, 2012 which is going to revolutionize the e-commerce sector in Bangladesh in the upcoming future.

The Governor of the Bangladesh Bank, Atiur Rahman said, “The advantages of this new payment platform are enormous. E-commerce will spread across the whole country,” A customer using a credit or debit card of any bank will be able to draw cash from any ATM booth and POS (point of sales) in the country. The transaction costs will significantly go down as the transactions will be routed through the NPS instead of Visa, Master or Amex card networks abroad. Purchases and Sales can be done with these cards through the internet and web portals within the whole country.

As on December, 2012 only three banks, Dutch-Bangla, Pubali and Southeast Bank has joined the NPS so far. The rest will definitely join the platform soon. Since the system has started once, it will roll on automatically.

In the launching ceremony of the NPS, the deputy governor of Bangladesh Bank Naznin Sultana said that all the banks will join the National Payment Switch. The BB governor said the NPS will facilitate easy access to funds, an increase in tax revenue, more flow of money in the economy, and financial inclusion. BB executive director Ahsan Ullah said, “Banks will not need to pay network fees to the Visa or Master Card; they can ultimately reduce fees paid by customers,”

A little about the NPS:

  • The central bank has set up the National Payment Switch (NPS) at a cost of $5 million (40 crore TK around) funded by the World Bank. It took more than three years to install it.
  • Individual payment platforms introduced by different banks will be abolished once all the banks join in the common platform.
  • Bankers have hailed the move, saying it will reduce their capital expenditure significantly and help deliver services to clients at a much faster pace.
Below are a little detailed about some recent Developments in the Financial Sector of Bangladesh. The info’s below has taken from the official web portal of the Bangladesh Bank. Please visit their site for further details.

Automation and Technological Development:

  • Banking sector experienced remarkable progress in respect of automation in functioning in last several years in Bangladesh. For the pro-active and forward-visioning approach of Bangladesh Bank, numbers of automation initiatives have been implemented in banking sector. These initiatives include:
  • To create a disciplined environment for borrowing, the automated Credit Information Bureau (CIB) service provides credit related information for prospective and existing borrowers. With this improved and efficient system, risk management will be more effective. Banks and financial institutions may furnish credit information to CIB database 24 by 7 around the year; and they can access credit reports from CIB online instantly.
  • L/C Monitoring System has been introduced for preservation and using the all necessary information regarding L/C by the banks through BB website. This system allows the authorized users of banks to upload and download their L/C information.
  • In terms of article 36(3) of Bangladesh Bank Order, 1972, all scheduled banks are subject to submit Weekly Statement of Position as at the close of business on every Thursday to the Department of Off-site Supervision. This statement now is submitted through on-line using the web upload service of BB website within o3 (three) working days after the reporting date which is much more time and labor efficient that the earlier manual system.
  • The e-Returns service has been introduced which is An Online Portal Service for Scheduled Banks to submit Electronic Returns using predefined template for the purpose of Macro Economy Analysis through related BB Departments.
  • Online Export Monitoring System is used for monitoring export of Bangladesh. Through this service, Banks and AD Branches of Banks issue & reports export report.
  • Bangladesh Automated Clearing House (BACH) started to work by replacing the ancient manual clearing system which allows the inter-bank checks and similar type instruments to be settled in instant manner.
  • Electronic Fund Transfer (EFT) has been introduced which facilitates the banks to make bulk payments instantly and using least paper and manpower.
  • The initiation of Mobile Banking has been one of the most noteworthy advancement in banking. Through this system, franchises of banks through mobile operators can provide banking service to even the remotest corner of the country.
  • Almost every commercial bank is now using their own core banking solution which has made banking very faster and efficient. Usage of plastic money has much more increased in daily life transactions. Full or partial online banking is now being practiced by almost every bank.
  • Inauguration of internet trading in both of the Stock Exchanges (DSE and CSE) in the country is the most significant advancement for capital market in last several years. Micro Finance Institutions submit their reports to the regulator through the Online Report Submission Tools for MFIs.
These Online transaction related problems in Bangladesh is going to be solved. This is really a great news for the Online Freelance Workers in Bangladesh. At present around 3 million peoples are using internet in the country, some survey says, within 2020 the total number of internet users will be more than 20 million in Bangladesh.

Thanks for reading this post.

read other posts:

About PayPal Transaction in Bangladesh
Online Payment Gateway in Bangladesh - Paypoint BD 
Make Payment using Shurjomukhi PayPoint

bKash - Nationwide Payment Solution in Bangladesh
Online Payment Solutions in Bangladesh

Saturday, February 9, 2013

bKash - Nationwide Payment Solution in Bangladesh

bKash Limited (a subsidiary of BRAC Bank) is a Nationwide money transaction service in Bangladesh. It’s a joint venture between BRAC Bank Limited, Bangladesh and Money in Motion LLC, USA. By providing financial services that are convenient, affordable and reliable, bKash aims to widen the net of financial inclusion. bKash wants to provide a solution for mobile financial services, built on a highly scalable mobile money platform, allowing people of Bangladesh to safely send and receive money via mobile devices.

Near about one-third of the population of Bangladesh lives in rural areas where access to formal financial services is difficult. They are the people who are in most need of such services, either for receiving funds from loved ones in distant locations, or to access financial tools to improve their economic condition.

Less than 15% of Bangladeshis are connected to the formal banking system whereas over 50% has mobile phones. These phones are not merely devices for talking, but can be used for more useful and sophisticated processing tasks.

bKash was conceived primarily to utilize these mobile devices and the omnipresent telecom networks to extend financial services in a secure manner to the under-served remote population of Bangladesh.

Money sending and receiving through Nationwide:

  • bKash is the easiest way to send or receive money instantly on your mobile anywhere in Bangladesh.
  • The extensive distribution network with more than 40,000 agents covering each district and Thana along with around 300 BRAC Bank ATMs provides you with the nationwide reach and capacity that you need to avail bKash services at a close proximity.
  • The service is supported by mobile networks of all the leading MNO’s which enables you access your bKash Account even from the remotest areas of Bangladesh.

Faster – send or receive Money in a minute:

  • bKash is dedicated to widening the net of financial inclusion among the people of Bangladesh by facilitating money transfer through mobile phones. bKash provides mobile financial services allowing customers to send, receive, and pay money from their mobile phones.
  • Send and receive money, or make payments the fastest way there is! bKash enables you to send money to anyone, using an advanced technology available on your own mobile phone. The recipient will receive money instantly, no matter where the receiver is.
  • Payments through bKash also makes your life easier as you do not have to go back home or anywhere else for bringing cash when you need to buy something if you are out of cash. Even if you don't have the required amount in your bKash Account, someone else can easily send you the amount in times of need.

Affordable cost:

  • Send and receive money with minimal effort and cost. bKash provides the highest benefit to its customers at an affordable cost, enabling everyone to access the formal financial system of the economy.
  • In addition to eliminating initial monetary costs involved in entering the banking system, bKash greatly minimizes opportunity costs such as time and effort required to access such services. The service charges are minimal and there are no hidden costs involved.
  • Open a bKash Account on your own mobile and experience how bKash saves unexpected and incidental costs for you.

Secure way of money handling:

  • Money in your bKash Account won't be lost even if you lose your mobile phone. Every transaction is protected by your very own PIN and what's more, state-of-the-art technology provided by VISA ensures your money is always safe and secure in our system.
  • Your PIN is your personal identification number that you create when you register for bKash.  Each transaction you make, you need to authorize it by entering your PIN. To ensure 100% safety of your own account, do not share your PIN with anyone.
  • bKash places a high priority on protecting your information  to assure that your transactions and data are secure with bKash. Our security and compliance practices are regularly audited to ensure that they meet the highest standards.

Convenient way:

  • bKash users enjoy increased convenience of accessing their finances from their own mobile phones at anytime, anywhere. bKash gives you the flexibility to perform transactions 24 hours a day, 7 days a week, regardless time and place. No queues no waiting, anytime anywhere; the most convenient way of transferring money.
Be on a bus, or a train, or on a launch, or wherever you want to be; as long as you have a bKash Account on your mobile phone, you can access your account and send or receive money in seconds. The interface of bKash is also very easy. Using a very simple instruction based USSD channel by dialing *247#, anyone can transfer money by tapping a few buttons on his or her mobile phone.

Follow the simple steps:

  • bKash Account: It's a virtual storage of money and can be accessed through mobile phone. After registration, your mobile number will be your bKash Account number.
  • Registration: Opening a bKash Account on your mobile phone.  
  • bKash Mobile Menu: The menu you see after dialing *247#
  • Cash In: Depositing money into your bKash Account.
  • Send Money: Transferring money from one bKash Account to another bKash Account.
  • Cash Out: Withdrawing money from your bKash Account. You can Cash Out from any bKash Agent Point or from BRAC Bank ATM.
  • Payment: When you pay from your bKash Account to a seller against product or service you purchase.
  • My bKash: My bKash is an option on your bKash Mobile Menu from which you can check your account balance, see mini statement, activate ATM Cash Out service and change your PINs.
  • bKash Mobile Menu PIN: This is a secret number like a password to secure your bKash Account.
  • bKash ATM PIN: This is also a secret number to be used when you cash out from ATM.
  • Security Code: Security Code is a onetime PIN. When you Cash Out from ATM, you need to generate a Security Code which can be used only once and remains valid for one hour.
  • Transaction ID: A system generated unique reference number against each transaction that is preserved as identification.

This service is really helpful for the peoples of Bangladesh. I personally use this service often. That’s all for today, thank you very much to read this post. Please visit web portal bKash for further details.


Read other related posts:
Online Payment Gateway in Bangladesh - Paypoint BD 
Make Payment using Shurjomukhi PayPoint
E-Commerce Payment Gateway opened by Bangladesh Bank

About PayPal Transaction in Bangladesh
Online Payment Solutions in Bangladesh

Sunday, February 3, 2013

On-Page SEO or Search Engine Optimization

Hello Readers,
How are you?
In this post I am going to tell you a little about On-Page Search Engine Optimization (SEO). Search Engine Optimization is a huge and interesting subject. In the near future the internet world will need lots of SEO specialists. And the competition related to this field is getting harder day by day. Basically there are two kinds of search engine optimization method:

  • On-page SEO and
  • Off-page SEO
Since this post is about On-Page SE Optimization, you have to wait for my next post about Off-Page optimization. On-page optimization technique is a valuable tool / stuff to make a better rank for any website. Actually this is the basic method of search engine optimization. After successful application of on-page optimization in your pages you can take necessary steps for the Off-Page optimization for your website or blog. Off-page optimization means stuff that isn’t on the page that affects your ranking (namely, in-bound links). To get huge number of hit / traffic in any site, both type of optimization methods are important.

SEO specialists say that on-page optimization is more important in Search Engines like Yahoo and MSN, than it is for Google. Google relies more heavily on links than the other big two SE’s. Before applying that kind of SEO on any web pages, selection of Keyword is very important. I will post another article about Keyword selection.

Important things need to keep in mind for On-Page SEO: 

  • Make sure that your domain name contains the main keywords.
  • Try to include maximum number of keywords in the title of your site or blog.
  • Make the very first text on the page the keywords in an H1 (header) tag.
  • Put an introductory paragraph that uses the keywords right after the H1 tag.
  • If you have a lot of text on the page, break it up with H2 tags that contain variations of my keywords.
  • For typical blog post try to keep one, two or more keywords in any post title.
  • There are other things that search engine marketer’s focuses on and spend a lot of time with (things like keyword density and image alt tag density, etc.),
Some more details about on-page and off-page optimization is going to be posted in this blog. Thanks a lot for reading this.

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