WALLETO, Making e-Commerce Easy

WALLETO, Making e-Commerce Easy

Walleto

Making e-commerce easy

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Arghya Raihan

Once a month, Mrs. Hossain has to go to her children’s school and pay their monthly tuition fees, about Tk 10,000. Just the other day, she heard from a friend how she got mugged on her way back from the bank. Understandably, she feels nervous carrying that much cash around, but she doesn’t really have a choice.

Mr Islam is a bachelor. To save time, he avails of one of the services that deliver groceries right to his doorstep. Only sometimes, he does not have the ready cash to pay for everything he needs. He wishes he could use his credit card, but unfortunately the service does not accept one.

This is where Walleto comes in. Walleto is an online payment gateway system, launched in October last year by MCC Ltd. The company introduced Walleto to help entrepreneurs, organisations and individuals enter the e-commerce sector and avail its services.

Walleto can be integrated with any existing website of any organisation, and just like that, that organisation becomes capable of accepting payments online. Walleto makes it possible for money to change hands without the parties involved getting up from their chairs.

With Walleto, Mrs Hossain’s school can receive payments from parents and automatically transfer them to a designated back account, without Mrs Hossain having to worry about carrying cash around. Mr Islam can pay for his groceries at the same time he’s ordering them and he only has to wait for the delivery.

Walleto opens up options for consumers and suppliers alike.

Bangladesh is no longer a stranger to online commercial activity. There are around 170 Bangladeshi e-commerce sites out there, peddling everything from electronics to books to groceries. Some allow you to order online and pay on delivery; only a handful, however, allows online transactions enabling online payment via a credit or debit card.

The primary obstacle to more businesses adopting the online payment option is that it is a time-consuming and complex process. The organisation would need to make detailed contracts with the bank of their choice and hire a software company to develop a payment gateway system to fit their needs.

The strength of Walleto is that it has already done all of that. If any organisation wants the advantages of accepting payments online, they simply need to subscribe to Walleto. Walleto has already made contracts with the banks and has developed a universal payment gateway system. Walleto has greatly simplified the process of becoming a true e-commerce vendor simply by existing.

Currently, Walleto accepts payments using Visa, Mastercard, the BRAC Bank Debit card and the Dutch-Bangla Nexus card. This already accounts for more than 20 lakh subscribers from Visa and Mastercard alone. This is only the beginning. Walleto will soon expand to include payment options from credit and debit cards from all the big banks to online payment options like Paypal to mobile payment options. Walleto aims to be a universal payment gateway system, accepting and processing payments via all possible electronic avenues.

This versatility means that Walleto is a one-size-fits-all solution for all sorts of businesses looking to enter the e-commerce sector. From airline bookings to buying books online, to booking a table at a high-end restaurant to sending money to your family back home, to gaming online and shopping for clothes from online catalogues, every transaction will be possible through Walleto. Like Amazon or e-Bay, Walleto aims to become a portal through which anyone will be able to buy anything, where people can donate to worthy charities and add to the remittance flow.

So far, Walleto has as its clients as diverse as Guide Tours, the Jaago Foundation, Aponjon, Creative Connection (jute diversified product market), Fair Price and many other.

Walleto represents a new benchmark for e-commerce in Bangladesh. The success of Walleto can only be a boom to the e-commerce sector and a gain for the Bangladesh economy as a whole.