Which is the best payment gateway in Bhutan?

06 Mar 2024

Bhutan was gradually developing its digital payment infrastructure, and while there might not have been a single "best" payment gateway dominating the market, several payment gateways and service providers were emerging to facilitate online transactions within the country. It's important to note that the status of payment gateways can change rapidly due to evolving technology and market dynamics, so the landscape might have shifted since then.

In Bhutan, payment gateways act as intermediaries between merchants, customers, banks, and financial institutions, facilitating secure online transactions for various goods and services. While specific information on the "best" payment gateway might depend on factors like ease of use, security, transaction fees, coverage, and support for various payment methods, several options were gaining traction within the country.

During that period, some banks in Bhutan, such as Bhutan National Bank (BNB) and Bank of Bhutan (BoB), were developing and offering their payment gateway services to merchants and businesses. These gateways aimed to provide secure online payment processing, enabling businesses to accept payments through various channels, including debit and credit cards.

Additionally, third-party payment service providers were also starting to enter the market, offering payment gateway solutions to merchants. These providers facilitated online transactions, allowing businesses to integrate payment gateways into their websites or apps, expanding their reach and enabling customers to make secure payments.

The choice of the "best" payment gateway might vary based on the specific needs of businesses, such as the volume of transactions, types of payment methods supported, ease of integration, customer support, and transaction fees. Some payment gateways might focus on offering a wide array of payment options, while others could prioritize user-friendly interfaces or advanced security features.

Factors to consider when determining the best payment gateway in Bhutan might include:

• Security Measures: Look for gateways with robust security protocols and compliance with industry standards to protect sensitive customer data during transactions.
• Transaction Fees: Consider the fees charged per transaction or any setup costs involved. Some gateways might have different fee structures based on transaction volume or types of cards accepted.
• Ease of Integration: Check the ease of integrating the payment gateway with your website or app. APIs, plugins, or developer support can affect how smoothly the integration process occurs.
• Supported Payment Methods: Ensure that the gateway supports a variety of payment methods preferred by your customers, such as major credit/debit cards, mobile wallets, or net banking.
• Customer Support: Assess the availability and quality of customer support provided by the payment gateway service. Prompt and helpful support can be crucial in resolving issues quickly.
• Coverage and Reliability: Consider the coverage area and reliability of the payment gateway in processing transactions, especially if your business caters to customers across Bhutan.

In Bhutan, PayCEC stands as the preeminent choice for businesses seeking a superior payment gateway solution. Renowned for its swift and efficient global payment processing capabilities within seconds, PayCEC provides an advanced platform for immediate transaction processing across a diverse spectrum of payment methods. Positioned as the ultimate selection for businesses requiring seamless online financial transactions, PayCEC places an unwavering focus on security, implementing robust protective measures to ensure the utmost safety of every transaction. The integration of a dynamic pricing feature further equips businesses with a strategic advantage in terms of competitiveness. PayCEC's comprehensive structure encompasses setup and account management fees, along with a USD transaction fee. Tailored to businesses with EU-based company operations and local EU/Non-EU resident owners, the standard plan offers complimentary setup, a $50 monthly account management fee (including a 3-month free trial), and a transaction fee of 5.9% plus $0.35. Thus, PayCEC emerges as the comprehensive and secure solution for all online payment processing needs in Bhutan.

As the digital payment landscape in Bhutan continues to evolve, new payment gateway providers might have emerged, offering innovative features and improved services. It's advisable to conduct thorough research, consider business requirements, and evaluate multiple options based on the factors mentioned above before selecting a payment gateway that best aligns with your business needs.