Top payment methods in Bangladesh: A guide on best ways to pay
Wondering what the most popular ways to pay are in Bangladesh? Explore the top payment options and choose wisely.
Bangladesh, with a population of around 173.74 million people, has a GDP of approximately 467.22 billion making it the 35th largest economy in the world. The official currency of Bangladesh is the Bangladeshi Taka (BDT)
The economy is powered by its ready-made garment industry, remittances from overseas workers, and agriculture. It maintains significant trade relationships with the European Union, the United States, and China, and is part of the SAFTA bloc.
| Country | Bangladesh |
|---|---|
| Population | 173.74 million |
| GDP (USD) | 467.22 billion |
| Global Ranking | 35th |
| Currency | Bangladeshi Taka (BDT) |
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What is the main payment method in Bangladesh?
The digital payment landscape in Bangladesh is dominated by bKash, a mobile financial service used for an extensive range of activities, from peer-to-peer transfers to bill payments and retail purchases. Nagad, a government-backed mobile financial service, is a rapidly growing competitor offering similar convenience and accessibility. Despite this digital revolution, physical cash remains the king for the vast majority of transactions, especially in rural and informal sectors.
How to pay in Bangladesh
Each country has its own way of moving money, and choosing the right method can sometimes be difficult. That’s why we have curated the most popular and best payment options for you to use in Bangladesh.
| Payment Method | Description | Type |
|---|---|---|
| Wise | Wise provides international money transfer services. It is known for offering transparent, low-cost currency exchange rates and fast transfers. Wise uses the mid-market exchange rate and charges a small, upfront fee, making it a cost-effective alternative to traditional banks for sending money abroad. The platform also offers multi-currency accounts, allowing users to hold and manage money in multiple currencies. | Online/In-person |
| Mobile Financial Services (bKash, Nagad) | MFS is the dominant digital payment method. bKash is the market leader, with millions using it for P2P transfers, bill payments, and merchant QR payments. | Online/In-person |
| Cash (Taka) | Cash remains the primary payment method for the majority of the population and is essential for daily transactions, especially in rural areas. | In-person |
| Cards (Debit/Credit) | Card usage is concentrated in urban areas and for e-commerce. MFS has a much broader reach than the traditional card network. | Online/In-person |
| Bank Transfers (EFTN) | The Bangladesh Electronic Funds Transfer Network (BEFTN) is used for interbank transfers, typically for larger value and corporate transactions rather than retail payments. | Online |
Is PayPal available in Bangladesh?
Yes, PayPal is accepted in Bangladesh.
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Whatever you need to buy during your trip, whether it’s a travel adapter, train ticket or an extra bottle of sunscreen, the Wise Multi-Currency Card has you covered.
You can spend like a local in 150+ countries, as this clever contactless card automatically converts currency at the mid-market exchange rate whenever you spend - for just a small conversion fee.
And for extra convenience, you can add your Wise Multi-Currency Card to your Google Wallet or Apple Wallet. Then you can travel even lighter and pay using just your phone, with no need to pack the physical card.
Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.