Do you know the fastest way to receive payment from your clients abroad? As more individuals and businesses are coming to terms with the reality that the world is now a globalized village, in which business transactions take place on the spot and between persons that are, more often than not, separated by far distances.
Can unregistered m pesa customers receive money from abroad?
These transactions will involve the rendering of a service or the sending of a product from service provider to client receiver that enables provider get paid online. The means for payment could be achieved over several thousand of miles via a number of channels. PayPal has for long, been the medium of choice for traders, merchants and individuals alike, who run and operate website. With a presence in many parts of the world, PayPal has held sway in the provision of online payment system platforms globally.
However the use of PayPal as a payment medium has been fraught with a lot of challenges, especially for users outside North America and the European Union. The major complaints have been the high commissions that are charged for transactions, which usually run into substantial sums at the end of a business period.
Secondly, there are still many regions in the world that currently enjoy limited services from the PayPal platform that restrict their capacity to send and receive funds. There have also been cases where PayPal account holders have been denied access to their accounts for various reasons; some tenable, others inexplicable. Such disruptions do not augur well, especially for businesses that deal in real time trade transactions.
Hence the need arises for other payment options aside PayPal, where money can be received from foreigners. These options present opportunities and options that are either not available or restricted on the PayPal payment platform. The other alternatives are as follows:
Safest and Cheapest Way to Receive Money Abroad Without Using Paypal
Formerly referred to as MoneyBrokers, Skrill has emerged as a viable alternative to Paypal. This is because the rates obtainable for both individual and merchant are reasonably priced on Skrill, the platform is easy to use and the platform balance almost immediately transferred to a prepaid credit card. In clear terms, the fees for individual transaction are pegged at 1% (with a maximum commission put at 10 Euros, although these rates differ from country to country.
In addition to notable websites and merchant channels like Skype, Odesk that employ Skrill for payment transactions, receivers do not pay a processing fee to receive funds. For merchants based in the EU, the processing fees are charged at 1.5% + 0.20 Euros for transaction volumes reaching 50,000 Euros, while non EU transactions reaching volumes of 2,500 Euros, are charged commissions in the region of 3.9% + 0.35 Euros.
Google Wallet, formerly referred to as Google Checkout, is gaining traction and credibility as an alternative payment platform to Paypal. Google Wallet does not boasts of all the features that Paypal may have, but its fees for both individual and merchant transactions are in the region of affordability.
Google wallet does not charge any fees for sending money from one’s bank account or from the Google Wallet platform but commissions are charged when money is transferred to a credit card. Google Wallet does impose certain limits such as a 10,000 USD per transaction and a 50,000 USD transaction limit over a 5 day work period.
Payoneer is another viable alternative to Paypal, in receiving funds from foreigners. In addition to the features offered by Paypal, Payoneer also offers individuals and merchants the opportunity of operating a virtual US bank account, which has proven to be a huge attraction, hence its growing acceptability worldwide. Payoneer charges an annual fee of 29.95 USD, while withdrawals using an ATM card incur a cost of 3 USD.
Formerly called AlertPay, Payza is being embraced by increasing numbers in the global business community, as a viable alternative to Paypal. Payza payment platform offers all the features available on other options. It is available in close to 200 countries worldwide and its processing fees are amongst the lowest amongst its peers. Payza is also an attractive catch because it offers certain payment services free of charge.
2checkout is another viable alternative to PayPal. It has solid presence in many countries around the world and offers individuals, merchants and businesses very attractive payment services. The capabilities of the 2checkout payment platform includes a pre-integrated payments window, a dedicated merchant account, fraud detection and prevention as well as ease of use across a large number of international shopping sites and platforms.
Since 2002, 2checkout has actively supported transactions in over 100 countries, in 87 currencies, accessed by over half a million merchants and individuals. For the African market, 2checkout charges a commission of 1.5% for funds received from customers abroad.