Sending and receiving money online is one of the most significant developments in the financial industry. Today, sending money is not limited to geographical boundaries. You can send money to anyone and anytime. The only requirement is to have decent merchant services & credit card processing. Besides security and safety in making money transfers, the other benefit of online transfers is that they are quite cheap. To reap the benefits of any cash transfer program, here are some factors to consider.
Tips to know when sending money online
Know your options
If you are new to making online cash remittances, the most important thing to do is to identify your options. For instances, you can choose an international bank that provides international financial transactions. The other option you have is using online cash merchants. These merchants have their internet site as the bank.
Sending money through them is usually easy and convenient. Sending via banks and using online cash merchants are the main options you have when sending/receiving money online. The main challenge is to determine who is the best.
Most, if not online cash transfer transactions do not cost much. However, comparing different platforms and can even the whole process cheaper. Online money transfers require some planning. The reason planning is important is to help you compare the rates charged by different organizations and choose the one that seems right for you. Adequate planning gives you a chance to pick the best merchant, which can help you save a good amount.
Always look at the fees
As expected, the charges levied on online transactions are not uniform or harmonized. Some companies only start charging after surpassing a certain threshold whereas others give friendlier rates for customers who send larger denominations. On the other hand, look at the currency conversion fees charged by the company. Looking at the costs ensures you get a fair offer from the transfer company you will be using. Always ensure you are comfortable with all transaction charges, even from the recipient’s end before making the transfer.
Besides the many benefits of making online cash payments, there are some risks as well. Therefore, it is always advisable to be careful with the choices you make. First, ensure the reputation of the platform you intend to use intact. From there, you should also look at their services and charges before transferring. Only use a platform that is right for you based on the nature of transactions and services you will be conducting.
If you are part of an organisation that’s looking to appeal to institutions or businesses who want to cut out long-winded buying processes, then this is the place for you. To make the buying process easy, find more about punchout catalogs used in e-procurement. It’s perfectly natural to ask yourself why you should choose a hosted catalogue version as part of your business model. This article is here to provide a simple answer through a brief explanation of this particular type of e-commerce and the benefits it will have for you.
What is a Hosted Catalogue?
Hosted catalogues, also known as punchout catalogues or e-Catalogues, are e-commerce platforms that give corporations and organisations the opportunity to buy directly from your procurement system. While this may sound confusing at first, it’s just a way of describing a particular form of an online catalogue that erases the boundary between a business or institution and their supplier. A method that can be carried out through an eProcurement website that you will be listed on.
How does eProcurement work exactly?
To clarify, eProcurement refers to the actual web application itself and the place that can be used to purchase particular items or services directly from a provider. Buyers can search for eProcurement sites and have a look for themselves at the various online catalogues and during this process, they can be taken directly to your procurement system. The entire process is completed electronically and is very simple to use once you get the hang of it.
Why should I choose a Hosted Catalogue for my business?
You should choose a hosted catalogue because buyers will be able to connect directly with you which will reduce your need to try and appeal to numerous businesses separately, you will have complete control over everything listed about your company, and you will have your easy-to-use invoicing system.
Procuring goods and services will no longer be a hassle for clients and they will be able to connect with their supplier more directly than ever before. Many businesses are willing to use this system as it cuts down and simplifies ordering time greatly and helps to streamline the process.
So there you have it, the appeal of hosted catalogues in a nutshell. If you’re still asking yourself why you should choose a hosted catalogue version when you’re weighing up your options then why not have a look at some eProcurement sites yourself? The platforms are made to be accessible by a range of different companies and institutions and you will be able to gain an understanding of the appeal before you create your very own hosted catalogue.