What ecurrency to use and how to send money to foreign partners on the Internet?

July 10, 2009 - 10:38am | Articles | Payment systems |
| More
  
What ecurrency to use and how to send money to foreign partners on the Internet?
The national segments on the Internet where one can run a valuable business, find partners, contractors, and mainly customers can be counted on the fingers of one hand, and even some of those five fingers may stay not involved.

In addition to English-American and Chinese segments you may mention the Indian one and that will be all. However the Internet as well as the world business is not limited only by those industries. Actually the number of segments on the Internet is equal to the number of the countries. Here one should note that the majority of businessmen in English-American segment come from the countries where English is not a native language. And only those who aim at entering the world market try to get into the English-speaking segment of the Internet.

If you are making business on the Internet, building relations and creating some projects sooner or later you will face the money matters. And if in your business correspondence or in your work with content you have a perfect right to make a mistake, in financial business everything is quite different. Here everything should be precise, and that is why a multilingual interface is a thing of future for all the electronic payment systems.

You may pay a little attention to this fact until you get a business partner from Korea, for instance. Just imagine: you want to buy some digital goods from him/her. Let it be PIN codes, for example. You discuss the terms and conditions in pigeon English and finally come to the matter of payment. And here you find that he/she fails to withdraw PayPal in Korea. The name of Liberty Reserve is something new for him+ and finally neither WebMoney nor PayPal has a Korean interface.

What to do? In view of the confidentiality you will probably refuse sending Western Union or bank wire transfer. And here the only possible way out is to find some leading payment system on the market which allows not only making payments but using the interface in your native language.  

That is the problem I faced some time ago. The only difference was the country – Iran not Korea. How to send a money transfer to Iran was a mystery for me. When I mention the name of Iran in banks the officers were freaking me out. And the main thing was that my partner had terrible English that we could hardly negotiate a simple sale. The purchase of a server took us several hours!

After that I realized that it would make no sense to ask him to make payment through PayPal or WebMoney. What to do in this situation? Bingo! Ask the old old chap Google. Having browsed the Internet, I read a lot of comments and listened to a great number of pieces of advice from my friends. Finally I decided to choose  Perfect Money payment system that had impressed me with its features and a multilingual interface. As far as I remember, no payment system offered its site in 16 languages. It is a record!  

So, it appeared that I finally found what I wanted to find. Now I send the money to my partner in Iran easily and he feels very happy since he can use the payment system designed in his mother tongue. When I asked him about the withdrawals he said that he usually uses online exchange services and sometimes sends bank wires to his account in some offshore bank. All in all I forgot about the problem of sending bank wires to Iran and he quit the doubts how to receive money transfers from abroad and send money from Iran. . 

Among the disadvantages of Perfect Money I would like to mention the customer support service which works only in English. 

One more unique feature that differs Perfect Money from other payment systems is payment by an SMS. I usually use this option when buying some pedlary from my colleagues such as account access and etc. I need just to send an SMS from my cell phone and wait a few moments until my account in PM will get automatically funded. It's very convenient!

In all other aspects Perfect Money is almost the same as Liberty Reserve, or WebMoney, or AlertPay. However for some reason I like Prefect Money more than any other payment systems. This might be caused by a design, or owing to a fast-responding customer support service, or owing to many insignificant but very pleasant small features that can be found in Perfect Money that leave a positive impression about the system. 





RSS feed Subscribe to Ecommerce Journal RSS feed

Login or register to post comments | 2 points

   Tell us what topics you want to be covered in the Ecommerce Journal?  
Image CAPTCHA
  


Comments on What ecurrency to use and how to send money to foreign partners on the Internet?




Similar Articles on Ecommerce Journal by sections

FIGURES
PAYMENT SYSTEMS
BANKS
PLASTIC CARDS
ECOMMERCE-CHECKED
INVESTMENT INDUSTRY
FRAUD
ANALYTICS
OTHER THEMES
INTERVIEWS
LAW ASPECTS