Digital payments are becoming essential for SMEs in Bangladesh. Accepting payments through bKash Merchant or Nagad Business allows customers to pay conveniently using their mobile phones. It increases sales, reduces cash handling risks, and improves customer trust. Many SMEs hesitate to adopt digital payments due to lack of knowledge about registration, setup, and transaction processes. This guide explains everything step by step in easy language for beginners.
Step 1: Understand Digital Payments
β’ Digital payments allow customers to pay using mobile apps or QR codes
β’ Reduces need for cash handling and manual bookkeeping
β’ Popular in Bangladesh due to mobile penetration and convenience
β’ Two major services for SMEs: bKash Merchant and Nagad Business
Why it matters for SMEs:
β’ Attracts more customers who prefer cashless payments
β’ Improves business credibility
β’ Makes transactions faster and easier to track
Step 2: Register as a Merchant
For bKash Merchant:
- Visit the bKash website: https://merchantportal.bkash.com/login
- Submit your Trade License, NID, TIN, and business address
- Choose account type: Personal, Agent, or Merchant (Merchant is for SMEs)
- Wait for verification (usually 2β3 working days)
- Receive Merchant ID and app login credentials
For Nagad Business:
- Download the Nagad Merchant App or visit https://nagad.com.bd/services/?service=merchant-pay
- Submit business registration documents: Trade License, NID, TIN, and bank account info
- Fill application form and submit
- Verification may take 2β5 working days
- Receive Merchant ID and QR code for business
Step 3: Accept Payments
β’ Customers can pay using mobile number, QR code, or app
β’ Payments are credited to your merchant account instantly or within 24 hours
β’ Track each transaction in the Merchant App
β’ Generate daily, weekly, or monthly reports for accounting
Tips for SMEs:
β’ Display QR code at the shop or online store
β’ Encourage customers to use digital payments for convenience
β’ Reconcile app records with your bank account regularly
Step 4: Benefits for SMEs
β’ Increases sales as many customers prefer cashless payments
β’ Reduces risk of cash theft or errors
β’ Simplifies accounting and record-keeping
β’ Faster fund transfer to bank accounts
β’ Helps business appear modern and trustworthy
Step 5: Tips for Secure Digital Payments
β’ Only use official apps and merchant accounts
β’ Protect app login credentials and PINs
β’ Regularly monitor transactions for any unusual activity
β’ Educate staff on using QR codes and app properly
β’ Keep backup of transaction reports
Current Situation for SMEs in Bangladesh
β’ Bangladesh has over 100 million mobile financial service users, making digital payment adoption crucial
β’ Government encourages cashless payments for SME growth
β’ More SMEs are using digital payments to reach urban and online customers
β’ Integrating bKash or Nagad improves business efficiency, transparency, and customer satisfaction
Common Challenges Faced by SMEs
β’ Initial hesitation to adopt digital payments
β’ Incorrect setup of merchant account
β’ Lack of knowledge about reconciliation and reporting
β’ Connectivity or technical issues with mobile apps
Helpful Resources for SMEs
β’ bKash Merchant Portal: https://merchantportal.bkash.com/login
β’ Nagad Business Portal: https://nagad.com.bd/services/?service=merchant-pay
β’ SME Foundation Support: https://smef.gov.bd/
β’ Bangladesh Bank β Digital Payment Guidelines: https://www.bb.org.bd/
Final Advice for New SME Owners
β’ Register officially and verify merchant accounts before accepting payments
β’ Encourage customers to pay digitally for convenience and safety
β’ Keep proper records of all transactions
β’ Update your apps regularly and monitor account activity
β’ Combine digital payments with other business growth strategies
Accepting digital payments through bKash Merchant or Nagad Business helps SMEs in Bangladesh increase sales, reduce cash handling risks, and improve customer trust, paving the way for smoother business operations and growth.