Global Payment Processing
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
Batch Payment Processing
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.
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.
Echecks for Global Payments
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.