AlertPay beats out PayPal in the race to become Bangladesh's first online payment service provider
Feb 22, 2012, 07:00 ET
MONTREAL, Feb. 22, 2012 /CNW Telbec/ - AlertPay, a Canadian online payment platform, has officially entered Bangladesh as the country's first online payment service provider. AlertPay, in collaboration with Bangladesh-based Casada Technology Ltd., will be providing Bangladeshi freelance IT workers with the ability to receive international payments, conveniently and affordably, directly transferred into their local banks. Until now this essential service has not been available to Bangladesh.
Bangladesh is quickly becoming a major service exporting country, with a growing number of citizens working for overseas clients, especially in the Information Technology (IT) sector. According to the Bangladesh Association of Software and Information Services (BASIS), there are over 25,000 IT engineers in Bangladesh working for over 600 software and IT companies. At least 150 of these companies specialize in serving overseas clients - and the number is growing. As the IT sector is becoming an increasingly vital part of the country's developing economy, the Government of Bangladesh has declared the Software and IT Services sector a 'High Priority' export. The AlertPay-Casada partnership will play a vital role in the development of this sector.
Individual service exporters in the country have faced a major roadblock which has stunted the sector's growth and development. Until today, there has been no secure, cost-effective and efficient system for accepting international payments. AlertPay is now able to provide the solution of a localized service to Bangladeshis needing to transfer money from international accounts into their local bank accounts.
"Our global online payment platform will allow Bangladeshis with an AlertPay account to receive payments from employers abroad into their AlertPay E-Wallet. The funds can then be withdrawn from their AlertPay E-Wallet and deposited directly into their local bank accounts," explains Firoz Patel, CEO of AlertPay. "Our platform will result in instant savings for our Bangladeshi members, who now have an alternative method to avoid costly payment receiving options such as bank wires and debit cards."
AlertPay will begin processing bank transfer withdrawals into Bangladeshi accounts at the end of February, according to Patel. Individual service exporters working in the IT sector will be introduced to this new service at the BASIS Soft Expo 2012, the largest information and communications technology exposition in Bangladesh. The event, held at the Bangabandhu International Conference Centre from February 22-26, will provide IT professionals in Bangladesh with the opportunity to learn more about AlertPay and its services.
Bangladeshis will be able to take advantage of this new service by signing up for a free AlertPay account at www.alertpay.com. This new service will be instrumental in allowing freelance workers to increase their earnings by enabling them to receive payments from across the globe and transfer their funds into their local bank accounts. AlertPay will bolster growth in Bangladesh's outsourcing market by providing Bangladeshi freelancers with a simple and convenient way to receive payments globally and to transfer funds locally, for the lowest fees ever offered in Bangladesh.
AlertPay is a Montreal, Canada-based online payment platform that specializes in making and accepting secure e-wallet and credit card payments. The company has 8 million members and offers its services in 197 countries and in 22 different currencies. More than 75,000 merchants use AlertPay as a one-stop-shop solution to accepting payments. The Company also offers foreign exchange services, localized banking, fraud prevention, email invoicing, mass and single remittances and business management tools.
For further information:
Cohn & Wolfe, Colin Danby,
514.845-7060 (direct line)
514.679-1622 (cell phone)
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