MODES OF COLLECTING PAYMENTS

This is beneficial to BPO's and most other companies.

Doing business these days require a good means of collecting payments. The old way of receiving cash on sight (over the counter) is limited to personal or face-to-face transactions. Nowadays, there are instances where that system is simply not practical. Clients who order via the internet, phone transactions or those physically located in far locations will find it very inconvenient to pay using the face-to-face method. Businesses who rely solely on this system are bound to lose a lot of clients.

These days, payments via credit cards and bank transfers have become the norm. from the sellers point of view, using the two systems may be inconvenient. Bank transfers are costly and time consuming especially for international clients. The use of credit cards are convenient in some parts of the world but for companies located outside the US and Europe, getting a merchant account that will allow the collection through credit cards is a very difficult, if not impossible task. It is also worthwhile mentioning that for countries with difficult systems for getting credit card merchant accounts, the number of consumers with credit cards are also relatively low.

This hurdles to doing business have created the need for alternative payment systems that will incorporate the use of direct transfers, credit and debit cards and online systems for payment and collections. The global business community which were used to names like Visa, Amex and Mastercard has now been introduced to new players.

The most visible company in this field is Paypal followed by e-gold and moneybookers. At the moment, paypal does not allow the acceptance of payments for some countries but moneybookers and e-gold has the flexibility that will enable the members to collect money in most, if not all parts of the world.

To get a free Paypal account, please sign up here.
To get a free moneybookers account, please sign up here.
To get a free e-gold account, please sign up here.