Money Transfer is as old as money itself. People have been sending each other money for thousands of years using a whole range of traditional and online money transfer platforms. Over 20 billion people in the world use their cash to conduct business transactions. This number is expected to reach 39 Billion by the year 2020.
With the increasing volume of cross-border transactions, it is easy to see why online money transfer platforms have become more popular over the past few years. What began as a way to make personal payments has now become an essential tool for any business that wants to grow its revenue and expand its customer base. Let’s take a look at three main reasons you should use these platforms to send money to India instead of going through the process manually:
Can Save You Time and Effort
The amount of paperwork and paper trails associated with money transfers can be staggering. Regularly fighting with banks and financial institutions to clear payment issues can be a real pain. This is especially true for small businesses that are just getting started. Fortunately, these transfers can be done quickly and easily with an online platform. These platforms also make it easy for your customers to fund your account, so you won’t have to spend a second worrying about failed transactions or long holding times.
The best online money transfer platforms make it simple for you to process payments and get them into your bank or lending facility as soon as possible. This, in combination with their lightning-fast processing times, can make sending and receiving money abroad a breeze on these platforms.
These platforms also make it easy for you to track payment progress and grasp your customer’s spending habits. This can help you understand better who you’re serving and what services they’re purchasing from you.
Increased Business Opportunities
Not only do online money transfer platforms secure your funds and make it easy to send money abroad, but they can also be a great way to increase your business’s revenue. Let’s say a company sells products or services delivered internationally. They can easily set up an online money transfer platform and pre-launch a fund-raising campaign to help them scale their operations.
Once they receive the products, they will import money into their bank account using their online money transfer platform. Then, they will pay their suppliers and employees with the same funds. This process can be repeated twice as necessary to meet the company’s goals.
The exact process may vary from company to company, depending on your business’s needs. This is a brilliant use of online money transfer platforms because it allows you to collect money from customers, vendors, and other fund-raisers without additional effort.
You Don’t Need An Account To Use An Online Money Transfer Platform.
These platforms do not require you to have a bank account or a credit card to operate. Some even let you fund your account through a debit or charge card. This means you do not need a traditional bank account or credit card to send or receive money abroad on these platforms.
Moreover, you do not need an email account or a telephone number to use these platforms either. You can log onto your account and make any payments you need to. If you want to send a few dollars to a friend in India, you can do so anonymously and securely without any middlemen involved. No matter where you are, you can log onto your account and make payments without additional effort.
The safest way to send and Receive Money Online.
With online money transfer platforms, you don’t have to put your eggs in one basket. For example, if your friend in India needs to send money home, he can put his money in one basket, and you can put yours in another. This is one of the most important reasons you should use these platforms to send and receive money abroad.
These platforms are very secure. So, once the funds are in their accounts, they are protected from prying eyes and ears. Moreover, these platforms also make it easy to track payment progress and get a grip on your customer’s spending habits. This can help you understand who you’re serving and what services they’re purchasing from you.
Traveling abroad can be expensive, but it doesn’t have to be with these tips! Using a money transfer platform can save time and money on every aspect of your trip. With quick and easy online money transfers, you won’t have to struggle to send and receive money abroad.
You can use these platforms to send and receive money to anyone worldwide and get it processed in just a few minutes. So, whether you’re sending money to a friend in India or sending money to your business partner in the United States, these platforms make it easy and quick. All you need to do is create an account and send and receive money today!