For the Foreign trade business,how to receive the money safely is a really big headache.Different business need different payment.Four payments are popular among businessman.
1.Paypal
This is really a good payment.If you are a new to foreign trade,I think Paypal will help you a lot.Paypal is a payment which protect the buyer a lot.You won’t worry about the safe of your money when you do business with businessman from all over the world.However,Paypal need a high procedure fee.It is about 1.9%~2.9% + $0.30 USD,so many skilled trader maybe not use Paypal as more as possible.So if you are a newer,I suggest you use Paypal,please don’t care the procedure fee,because you are a newer.
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2.Alipay
Alibaba is the biggest B2B platform and Aliexpress is the biggest B2C Platform in China,both of them are use Alipay.With the development of China,Chinese manufacturing industry are attracting more and more people from all over the world.The world are paying attention to China,so more and more people begin to use Alibaba platform.Besides,the procedure fee is not high.They protect buyer too.So if you do business with Chinese,Alipay is better than Paypal.
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3.L/C
L/C(Letter of Credit) payment is more suitable on Block Trade.I must say that it is very complicated,need professional trader to responsible for it.But it is safe and suit for block trade.If your business need very big money,and you use Paypal,well,you should pay a very high procedure fee to Paypal.
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4.T/T
T/T is Telegraphic Transfer.It is a very popular payment in the international trade.It is a means of wiring funds from one location to another.There is a big potential danger with total T/T.It is very common to combine T/T to L/C.It can decrease danger and it is convenient.
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5.Western&Union
Western Union is very fast.But it has high procedure fee.It is not suitable for current business.
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