How Payees Select Payment Method
iFrame allows for easy integration to your website, as well as efficiency when payees decide how to receive their money. There are a variety of options that can be available, such as PayPal, Global ACH, and wire transfers. Using provided information, your payees can choose what works best for them.
Once logged in, your payee can go to the Payment Method tab where your selected forms of payment will be listed. If the option is not available in their country, it will not appear as a choice. The payee simply selects what option best fits their needs, such as a check or global ACH payment. It is possible to change this by hitting the edit button at the bottom of the webpage. When this occurs, though, it may take a cycle for the payment mode to change so that all information can be validated. Each method may require different details, and returned payments can be costly.
Consideration of Fees
Fees may be one of the largest influences on what type of payout platform is chosen. If the payment is internationally based, the first fees will be due to converting US dollars. This occurs when choosing certain payments, such as a paper check. After that, there will be an FX fee with each payment type. On the same tab where payees select their payout platform, these fees will be listed. PayPal has its own fees, as well, which can vary up to 3.9%.
Every payee likes when their funds are received by their method of choice. Using iFrame allows each person or business to choose the payout platform that works best with his or her location and with the fewest fees. You will have a higher rate of client satisfaction because of this streamlined process.