The system is certified with international security standard requirements
Banking: With the Bank of Bhutan introducing an e-payment gateway, Bhutanese merchants will now be able to sell their services and products online.
To date, Bhutanese have been availing online shopping services from dealers and websites outside the country, while merchants at home were deprived of such facilities to sell their products online.
Bank of Bhutan Limited introduced the e-payment gateway earlier this month.
The bank’s public relations and media head, Passang Norbu, said through the e-payment gateway, one could sell their products online and boost sales of local products.
“One can not only shop online, but can also purchase airline tickets, book hotel rooms and pay for utilities too,” Passang Norbu said.
Business establishment, airline companies, tour agents, handicraft shops and hoteliers have to date availed the e-payment gateway facility.
VISA and MasterCard holders will be able to avail this facility.
BOBL provides an internationally recognised e-payment gateway, certified with international security standard requirements, Passang Norbu said.
“All payment information, including credit card number, name and address are encrypted through a secure socket layout (SSL) when orders are placed,” he said. “SSL is industry standard technology, which ensures that all information sent to us remains private and can’t be read by any third parties during transmission.”
The e-payment gateway will directly connect the website and bank, which means all payments will be deposited straight into the bank account of the merchant, Passang Norbu said.
For local merchants, a merchant management fee of Nu 1,000 will be charged on a monthly basis by the bank.
“However, the installment and set up of the e-paymet gateway will be free of cost,” Passang Norbu said.
For a private employee, Yeshi, 31, who has been shopping online for more than three years, said it was time that the country started availing online shopping.
Tshering Zangmo, 29, a government employee, said such payment system becomes a hassle when transaction process is not streamlined.
“It’ll definitely make shopping easier and I hope it will be convenient and easier for the customers,” Tshering Zangmo said.
As of 2014, there are 2,500 VISA international debit cardholders and over 400 international credit cardholders with BoB.
By Thinley Zangmo