What Are Some Advantages Of Using Payment Processors Instead Of Bank Transfer?

[Good-Guy]

Mankind has been making and receiving payments for a really long time. It has been believed that mankind has been using monetary system for almost 3,000 years, according to some sources. However, mankind used to barter products instead of money before the money was invented. Now we are living in a modern age where we have payment processors and we can send or recieve payments within a few minutes just by clicking and typing using our computer. Before the online payment processors were invented, banks were usually used to receive and transfer money from one place to another place. Banks are still being used now. But there is a huge number of people who only use payment processors. So, What Are Some Advantages Of Using Payment Processors Instead Of Bank Transfer?

 

[Sotherefore]

I don't really have much idea about the payment processor and how it really work but I think when receiving payment it is even the best for you to use bank because bank is the official payments third party a lot of people are using to receive their official payments... Does it really mean that bank will be outdated ?

 

[Good luck]

The payment processor is getting outdated, I mean it is now old fashioned.Technology has taken over the whole thing in terms of payment.Bank transfer still remains the best means because it is safer,faster and more reliable in all areas.People prefer to transfer funds from different countries to another.With bank,your money is secured and you will be rest assured of any transaction

 

[btaliat]

There are many advantages of using this payment gateway. First, it facilitates foreign transfers. Banks most time don't support foreign transfer except you are running on domiciliary account. Also, there are some international market that do not support paying directly to local banks. All these make it necessary to have these payment gateways

 

[Good-Guy]

There are many advantages of using this payment gateway. First, it facilitates foreign transfers. Banks most time don't support foreign transfer except you are running on domiciliary account. Also, there are some international market that do not support paying directly to local banks. All these make it necessary to have these payment gateways

Yes, you are right. Bank transfers are quite tiresome and it is always a better idea to use payment processors instead. Banks usually use intermediary banks in order to process payments and this usally cause a delay in payments. Most banks also charge a very high fees in order to complate the transaction.