‘Paypal in Bangladesh and Xoom’

Paypal in Bangladesh, Paypal or Xoom, Paypal set to arrive in Bangladesh; these are the most common words in nowadays. People of Bangladesh who are engaging in E-commerce businesses and freelancing works, are eagerly waiting to get Paypal in Bangladesh or this type of most secured online payment gateway services. It is unfortunate but true that paypal won’t be available in Bangladesh in recent future but Xoom is available. As a general or non-tech person, Some questions may arrive like what is paypal? Or what is Xoom? Paypal or Xoom, which is better? I am trying to give those question’s answers below.

‘Paypal’

What is Paypal? Paypal is a worldwide online payments system that supports online money transfers and serves as an electronic alternative to traditional paper methods like checks and money orders. Paypal is the world’s most popular ‘middle man’ service for online purchasing. When you create an account at PayPal, you can register the detailed information of your existing bank account or credit card which will then be linked to your PayPal account. You won’t need to register these information again to proceed with a payment. After the approval of a payment, PayPal withdraws the amount automatically from your bank account or credit card.

‘Xoom’

What is Xoom? Xoom, a paypal service is an online money transfer or remittance provider that allows consumers to send money, pay bills and recharge in mobile phones from the United States to 52 different countries.  Xoom allows people to transfer money among the virtual world and the real world. It lets you transfer cash internationally while bypassing traditional wire transfer services like Western Union (NYSE: WU) and MoneyGram International (NASDAQ: MGI).

‘Paypal or Xoom: Better?’

I think, you have already got the answer of it. How can a part of Paypal be better than Paypal? Okay, let’s move with some logic.

• Xoom is not available in the whole world.  You will need to look elsewhere if you want to send money to a country that Xoom does not currently service.
• You’ll need to upload a government-issued ID, like a license or passport and a recent bank statement to send money, which could deter those without either form of ID (license or passport).
• It doesn’t even have live chat option to get immediate solutions of any problem on transaction or sending money.

On the other hand, Paypal operates online payment system.  PayPal is one of the world’s biggest Internet payment companies with a user-friendly application. It has 24/7 customer supports and Sending money to friends and family is free. The only major disadvantage of Paypal is to freeze accounts of thos who did fraud :D. So, if you have any illegal intention, please avoid Paypal.

Unfortunately Paypal has not come yet in Bangladesh. But, we should never lose hope, for reaching the aim of making Digital Bangladesh, our Govt. would take Paypal seriusly. Hope for the best.

Written by- Atikur Rahman Tonmoy