Online payment processing is a method by which cash is transferred online between a buyer and a seller and is critical to the success of e-commerce. This form of payment requires the use of an online processing method which is chosen according to certain key factors and some of the common methods used worldwide are credit cards, PayPal and direct bank transfer.
When choosing an online payment processing method, one of the main factors to look at is affordability in terms of fees and charges. In this regard, the absence of a single standardized rule allows different providers to charge different rates, and therefore the choice depends only on the user in terms of his budget, initial costs and any hidden fees.
It pays to first find out the credibility of the provider in terms of its reputation in the market, the quality and speed of its services and the length of time it has been in the market. In a way, this reflects the security as well as the available options for the customer, as it has been found that it is the providers who can boast of a long history that can be blindly trusted.
Online payment processing usually takes place between people who reside in different parts of the world and e-payment gateway in Bangladesh therefore trade in different currencies. Therefore, when considering different options, it is necessary to ensure that the currency involved in the transaction, as well as its transfers, is handled by the provider. Another problem is also the method of payment, which again varies from one provider to another.
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