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Payza unveils SimplySendBD to offer money transfers from US to Bangladesh

Global online payment platform Payza has rolled out its latest product SimplySendBD, which will enable its members to execute money transfers from US to Bangladesh.

Using this new cost-efficient, easy-to-use and fast online service, Payza members can carry out payment transactions to Bangladesh, irrespective of having a Payza account, or not.

According to an estimate of Bangladesh central bank, the country received over $14bn in remittances across the globe during 2012.

The firm will charge a flat fee of $5 for remittances up to $500, and $10 for those more than $500.

The funds can be transferred directly from the senders’ account to the recipient’s local Bangladesh bank account, according to the service provider.

The firm is also planning to introduce a cash pickup option, early next year, which will allow recipients to claim their money at any of more than 3000 SimplySendBD locations within outlets across the country.

Payza has teamed up with Bank Asia to enable transfers, while the technology was developed in collaboration with Casada Technology, a Dhaka-based company.

The company provides its remittance services across the globe in 21 currencies and serves more than 9 million members.