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.
The global payment process begins when a payment is made to a supplier, vendor, publisher, or other affiliates whose bank account is outside of the country in which your business operates. Traditionally, global payments processing requires inputting data into multiple bank portals and are accompanied with expensive fees and costly overhead. When processing global payments to a supplier in a foreign currency, you may also endure heavy conversion fees if you don’t partner with a cost-friendly global payments processor.
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.
Inward remittance refers to the transfer of money from migrant workers to family or friends in their home country. However, this common understanding is only a partial reflection of the statistical meaning of international remittances. The International Monetary Fund explains inward remittance as the sum of these two key parts:
There are two primary types of adaptive payments:
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.