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How to Payment Gateway Service Dollar to Taka.

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To integrate a payment gateway service that converts US dollars (USD) to Bangladeshi taka (BDT), you’ll need to consider several factors:

Key Steps for Integrating a Payment Gateway for Dollar to Taka:

  1. Select a Payment Gateway:
    Choose a reliable payment gateway that supports both USD and BDT transactions. Some popular international and Bangladeshi payment gateways include:
  • PayPal (global, but doesn’t operate in BDT)
  • Stripe (supports multiple currencies but not Taka directly)
  • SSLCOMMERZ (Bangladeshi gateway with Taka support)
  • bKash (popular for local BDT transactions)
  • ShurjoPay (supports both international and local transactions)
  • Payoneer (offers international payments, but requires withdrawal in BDT via local banks)
  • Xoom (subsidiary of PayPal, allows remittances to Bangladesh)

  1. Currency Conversion:
    Make sure the gateway provides real-time conversion between USD and BDT. Some gateways allow automatic currency conversion, but others may require integrating an external service (like OpenExchangeRates or Fixer.io) for accurate exchange rates.
  2. Setup Cross-Currency Transactions:
    If you are accepting payments in USD and need to receive funds in BDT, the gateway must support cross-border transactions, and you should set up currency exchange options during the checkout process.
  3. Transaction Fees and Exchange Rates:
    Different gateways may charge varying fees for currency conversion and international transactions. Be sure to compare:
  • Conversion rate spread (difference between real exchange rate and rate offered by the gateway)
  • Gateway fees (both for processing the payment and for currency conversion)
  • Withdrawal fees (if you’re moving funds to a local bank account in BDT)

  1. Bank Integration:
    Ensure that the gateway you choose is compatible with local Bangladeshi banks, so you can easily transfer funds from USD to a BDT account.

Example Scenario with SSLCOMMERZ:

SSLCOMMERZ supports payments in both USD and BDT, allowing businesses to accept international payments in USD and convert them to BDT for local bank withdrawals. It offers integration with major Bangladeshi banks, ensuring smooth transactions.

  1. User pays in USD: The customer can select USD during checkout.
  2. Payment processing: SSLCOMMERZ processes the payment and, if needed, converts USD to BDT based on current exchange rates.
  3. Funds settlement: The merchant receives the converted amount in BDT, minus any applicable fees.

Important Points:

  • KYC & Compliance: When handling international payments, ensure that you comply with the local and international regulatory requirements for cross-border payments, including anti-money laundering (AML) policies.
  • Customer Support: Consider choosing a gateway with good customer support for cross-border transactions.

Would you like recommendations on any specific payment gateway based on your business needs?

How to Payment Gateway Service Dollar to Taka.

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