Darius Ghassemian

Stripe and PayPal are currently the most well-known online payment gateways in the eCommerce market. This article will cover the differences and similarities between Stripe vs. PayPal so you make a well-informed decision for your business.

Before making a global payment, inquire about the fees. You may find it’s best to send a payment that takes longer to process if you have budgetary limits. Also, you must confirm the supplier is legitimate before you send the payment. A global payment operator can help verify suppliers for you

Is real-time processing or batch payment processing better for your business? There are two main areas that should guide your decision. The first is whether or not you’ll need to make adjustments to transactions after sales. As with any other business decision, you’ll also want to compare the associated costs.

Self-billing is a financial agreement between a customer and a supplier. In most cases, it involves the customer preparing the invoice and sending it, along with the payment, to the supplier.

The remitter is the sender of the money who first goes to the bank to submit a request for payment to the recipient’s bank account. The remitter’s bank may request the following information before green-lighting the transaction:

Parallel payments, where payments that are sent directly to each receiver with the fees shared by each receiver respectively, and chained payments, where payment is remitted to one receiver who is liable for the overall transaction, including remitting payments to secondary receivers.

You want to integrate as seamlessly as possible with existing accounting and ERP systems. However there are many key steps along the supplier payment process that still require significant manual effort beyond sending out payment instructions to the transfer API for bank, ACH, and wire services.