Processing International PaymentsInternational payments processing boost sales by expanding market reach globally. Consumers located throughout the world make online purchases quickly and easily simply by transferring money from the buyer’s local bank accounts to the seller’s bank account. Our unique international payments processing system uses advanced technology to link together the banking networks of many countries into a single network. The ACH payment platform transforms international transactions into low-cost local bank payments. Processing fees are minimal. Payments are guaranteed, eliminating risk. Benefits of International Payment Processing
How International Payment Processing WorksConsumers are comfortable making purchases with international payment processing. Local bank transfers are a familiar payment option and buyers trust merchants who offer it. International payment processing via bank transfer is known as a “push payment”. That is, consumers push the payment from their bank account to the merchant’s bank account in a highly secure transaction. At check out, consumers chose to pay via local bank transfer and select the appropriate bank. Payment fields are auto-populated with the necessary information associated with the merchant sale. The consumer authorizes the bank to make the payment to the merchant. Confirmation of the payment is sent to the merchant and to the buyer. In some countries, debits from the consumer accounts are confirmed instantly. In others, confirmation of the debit occurs the next business day. Once confirmed, merchants are guaranteed funds and can ship the product to the consumer. Consumers do not pay any additional fees beyond what their bank would normally charge for a standard bill payment. Credit Cards Limit Sales GrowthBusinesses that want to grow target global markets. Europe, with millions of affluent, web-savvy consumers, is one of the largest markets for ecommerce in the world. Emerging markets in Asia, South America and the Middle-East have produced consumers with disposable incomes and a desire to buy products online. How are international buyers going to pay you? Most buyers globally do not have credit cards. In Germany, only 20% of the population has cards. Throughout Asia and the rest of the world, credit card penetration is even lower. Merchants with credit cards as a payment option know that banks charge high fees for the international payment processing. International credit card transactions carry high risk potential for fraud and chargebacks. International payments via wire transfer are not a effective for internet transactions. Ecommerce is driven by immediate purchase options gratifying the consumers’ impulse to buy. Few buyers will exert the effort to go to the bank to initiate a wire transfer. Wire transfers fees are expensive for both the seller and the buyer, both of whom incur high bank fees for wire transfer services. International Payment Processing Expands Market ReachInternational payment processing solutions were developed in direct response to the needs of our clients. As the internet opened-up global markets to ecommerce merchants, clients needed ways to accept payments from customers around the world. Offering consumers a familiar way to pay locally while buying globally is the modern way to do business. Our technology gives clients direct access to international banking networks through a single portal. Take advantage of international payment processing technology, to increase revenues, enhance customer satisfaction, and boost sales from the global marketplace. Case Summaries
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