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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