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International Payments: What Every Business Owner Should Know

Thanks to the well-established operation of international marketplaces, warehouses, product delivery systems, and the Internet, businesses no longer have to be limited to local offices. Now, you can produce goods in one country and easily sell them worldwide. All that remains is to take care of the international payment gateway so that it is equally easy to receive payment from consumers, regardless of where they are and what currency they use.

Fortunately, such solutions now exist, and the Fondy service has prepared for you a detailed guide on how to set up an efficient and instant acceptance of international payments and easily manage them.

What are International payments?

International payments are payments for goods or services made from one country to another. These payments are usually made through bank transactions or payment systems such as PayPal, for example. However, rules and restrictions come into play when it comes to overseas transactions. Therefore, parties often face high commissions, the need to convert currency, waiting periods, and other details that can discourage the desire to purchase in foreign stores, even if it is an essential and high-quality product.

Therefore, until recently, the parties either agreed to these inconveniences or gave up on the idea of purchasing (accordingly, businesses lost conversions). Everything changed when such convenient international payment systems as the Fondy platform appeared on the market. Now, you can do without the pitfalls, getting only the benefits of international trade or partnership.

How are convenient international payments a game-changer?

The main advantage of international payments is the ability to pay for goods or services in any country. It makes international payments very convenient for businesses with customers from different countries. Also, it is suitable for everybody who wants to pay for goods or services unavailable in their country.

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To use international payments, you need to have a bank account and register with Fondy so that you can get the full set of benefits:

  • Instant execution of all international payments, regardless of the country;
  • Management of all accounts and electronic money using a single account;
  • Minimization of commissions;
  • Reduction of risks when making payment.

International payments allow making payments anywhere globally, considering national currencies and international standards. Compared to other international payment methods, such as checks or letters of credit, international transfers can be cheaper and more efficient. At the same time, every operation is protected, so you eliminate the risks of fraud or abuse as much as possible.

Combining ease of use and the advantages listed above, international payments help businesses build relationships with customers and partners in a new way. Moreover, the benefits are not only enjoyed by business owners; these features are also felt by consumers, for whom certain goods or services become more accessible.

Therefore, this is a mutually beneficial story, which paves excellent prospects for those who have already scaled or are just planning to go beyond the boundaries of the local representative office.

Join Our Small Business Community

Get the latest news, resources and tips to help you and your small business succeed.