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No payment until delivery of e-commerce product

Published : Thursday, 24 June, 2021 at 5:59 PM  Count : 415

No payment until delivery of e-commerce product

No payment until delivery of e-commerce product

From now on, e-commerce companies in the country will get their payments only after delivery of goods to buyers. Bangladesh Bank will control the transactions of these platforms, said Hafizur Rahman, Additional Secretary (Director General, WTO Cell) of Ministry of Commerce.

He made the announcement following a meeting on digital commerce held in Dhaka on Thursday with Commerce Secretary Tapan Kanti Ghosh in the chair.

Hafizur said, "Soon an standard operating procedures (SOP) service will be developed through Bangladesh Bank so that payment is not taken before delivery of goods. Those who have a bank or credit card will control the payment.”

He said, “If they receive a message that the product is delivered, then they will confirm the payment. This is the decision. SOP will be developed soon. The immediate issue is that the payment system will be controlled through Bangladesh Bank.”

Asked if there was any decision from them to keep the e-commerce company credible by collecting surety bond from them, he said, “No such decision has been made, no discussion has taken place.”

The additional secretary said, “Buyers need to be careful. Those who make unusual offers may behave suspiciously. Even then, we hope that if they make payments on systems such as online cards or bKash-Nagad, then the payment can be controlled. Apart from this, if they give advance in different ways, then there can be problems.”

After the meeting, Shomi Kaiser, the President of e-Commerce Association of Bangladesh (e-CAB), said, “It is not desirable that the e-commerce sector would suffer for one or two organizations. The sector needs standard operating procedures or management guidelines for the benefit of both the consumer and the seller. Besides, Bangladesh Bank needs supervision for payment security. Once the policy is in place, we will also have to move towards digital commerce law.”

The inspection report prepared by Bangladesh Bank on E-Valley was discussed in today’s meeting.

Representatives from Bangladesh Bank, National Board of Revenue (NBR), Information and Communication Technology Department and e-Commerce Association of Bangladesh, were present in the meeting.


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