International e-commerce payments

International e-commerce payments

Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions.

All edits by  Neil Ambikar 

Edits on 29 May, 2019
Neil Ambikar
Neil Ambikar edited on 29 May, 2019
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Further reading (+2 rows) (+9 cells) (+246 characters)
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International E-commerce International E-commerce payments

Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions.

Article

E-commerce is the act of buying and selling goods and services and collecting payments through the internet. International E-commerce is the same transaction but between separate countries.

The history of E-commerce begins with the first ever online sale: on the August 11, 1994 a man sold a CD by the band Sting to his friend through his website NetMarket, an American retail platform. This is the first example of a consumer purchasing a product from a business through the World Wide Web—or “E-commerce” as we commonly know it today.

Since then many of the e-commerce companies started to utilize this way of trading globally. However, for them bringing their product or service to an international level and collecting payments globally is a time consuming and bureaucratic process that can eat up the profit. For International E-commerce, banking presence in the given country is required and regulations are strict. Virtual Bank Accounts make this process easier and cheaper and with their help more products and services can be introduced globally.

The biggest pain points in International E-commerce payments are the exchange rates, banking-, transfer fees, and time. If traditional bank accounts are created in a country transfer and exchange fees remain high and transfer can take 3-4 days. Virtual bank accounts can save up to 80% on the fees and exchange rates using bulk transfers.

How to create Virtual Bank Account in Europe for Non-European residents:

The growing tendency of Global E-commerce shows the needs for the different banking products, like virtual bank accounts offered to them.

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Neil Ambikar

Virtual Bank Accounts, International payment solutions

Further reading

Title
Author
Link
Type
Date

B2B Pay helps you in global Arbitrage

B2B Pay

Web

May 23, 2019

Virtual Bank Accounts for International payments

Web

March 14, 2017

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Edits on 28 May, 2019
Neil Ambikar"Initial topic creation"
Neil Ambikar created this topic on 28 May, 2019
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 International E-commerce

Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions.

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