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How to make or receive an international payment for a business

How to make or receive an international payment for a business
So many questions arise when the need for international online payments arises. The answers to them all can be found in our article.

How do I make an international payment? What is the best way to pay an invoice from abroad? Where to create the best business account for international payments? So many questions arise when the need for international online payments arises. The answers to them all can be found in our article.

Where to start an international business?

There is a perception that international trade is only available to large companies, but this is not true. Often, for small business owners, international trade represents a great opportunity. But before you start trading internationally, you have the question, “How do you make international transactions conveniently?”

Issues to be solved before starting an international business

The first problem you will face: classic bank transfers are very unprofitable due to the commission for international online transactions, exchange rate changes and differences in international financial legislation.

Crypto payments become a convenient tool in this matter; you can use internet acquiring to make international cryptocurrency payments. And peer-to-peer cryptocurrency payments offer low fees and high transaction speeds compared to traditional payment methods.

How to send money abroad and make international payments

You have several options:

Credit/debit card

Using a bank debit or credit card can be a convenient way to pay abroad, as you use the same card within your home country for domestic purchases. However, the same card used internationally may end up costing you more in the long run due to international transaction fees and hidden exchange rate fees. Be sure to check your bank’s fees for using your card abroad.

Online transfer

This is a more modern way of making international payments. This option allows you to send money abroad quickly and easily. Access online money transfers online Transferra UK anytime, directly from the app on your smartphone.

SWIFT/bank transfers

SWIFT, or bank transfers, are a way of transferring money from your bank account to someone else’s account abroad. This is a great solution for large purchases.

Cryptocurrency gateways

Accepting international payments in this way is currently growing in popularity. Traditional methods of international bill payment are complicated, as each transaction goes through several banks and financial institutions. Each intermediary is assigned a unique code that is used throughout the payment process. Each intermediary must approve the transaction before the recipient accepts the payment. Therefore, traditional international transfers take one to five days.

Each intermediary gets a cut for their services, so you get high commissions. Compared to this, cryptocurrency transfers offer you a fast transaction process and low fees.

How to make or receive an international payment for a business
Accepting international payments through cryptocurrency gateways is currently growing in popularity.

The best ways to make international payments

Banks and money transfer services tend to be slow and expensive, so being able to use a fast and relatively cheap crypto transfer is the best solution for international payments.

Information needed to make an international payment

So, how to make an international money transfer? What information is required?

You don’t need any bank details for the recipient, use the QR code or payment link that was sent to you. You have to pay a fee to the gateway, but it is usually much lower than using a regular bank to transfer money abroad. The transfer itself only takes a few minutes.

There are several options for paying abroad:

  • A card that supports cryptocurrency payments: These cards can be linked to your cryptocurrency wallet and used just like any other debit card. When you use the card, funds are withdrawn from your crypto wallet and converted to regular currency at the card’s exchange rate.
  • Spend directly: More and more international online payment solutions are accepting cryptocurrency as payment, allowing you to pay directly from your cryptocurrency wallet when shopping online.
  • Use a crypto machine: In major cities in the U.S. and other countries, you can buy bitcoins and other cryptocurrencies at physical ATMs. Some of these ATMs also allow you to convert cryptocurrency and withdraw cash in local currency.

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Crypto-acquiring to accept payments with minimal transaction fees

Today, the Internet allows companies to make international payments and do business with customers from all over the world. And with the advent of cryptocurrencies, online businesses now have a universal form of currency that can be accepted as payment, regardless of location.

To start accepting cryptocurrency payments in your business, you can use a feature-rich online payment solution to set up all of your workflows to accept payments from your customers. To quickly integrate into your modern processes, sign up on the platform, log into your personal account, and start making and accepting quick payments.

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