About Online Payment Mode

bizvinbiz

Hi,

I am new to this online selling, so I am here to see if I can get any answer.

For online shop, normally the online retailer are paid or receive their income throught these mode of payment.

1) western union
2) T/T
3) paypal
4) COD

Well COD is very straight forward but I am not sure of the other 3 and I need help and advise on these area

1) Western union
-How to apply western union?
-when customer paid us, where does the money go? Do we correct it at
Western union branch?
-Is Western union consider a bank wire?
-What are the information I need so to provide to customer so they can paid
us?
-Is there a fee that we have to paid?

2) T/T remittance
-How do I apply for T/T service?
-How do I correct my money? Do I correct it in the bank?
-IS T/T consider a wire banking as well?
-What are the information needed so customer can paid us?
-Is there a fee that we have to paid?

3) PayPal
-For paypal, once I created an account I can purchase online.
but to receive payment, where does the money go to? Where do I collect
my money?
-what are the information I need to provide to user so they can paid?
-How does paypal charges us?

Please advise me, thank you

noeclue

1) and 2)

Overseas buyers wont pay using these methods unless they order in hundreds. There is an admin fee of around 20-30 dollars per transaction.

3)

Money will be kept by Paypal. You can transfer to any Singapore banks, but there is a fee. If I am not wrong, it is around 7-10 dollars.

You only need to provide the paypal email address.

The charges will be deducted automatically. You will be able to view it from your account page.

When you hit certain amount, paypal may block your account and ask for further verification such as: copy of IC, proof of address, etc.

When you have to many fraud payments, they will close your account and hold on your money.

tinytiny

For paypal, if you have business account, then good..but personal one, you will need to pay a fee to receive $ leh..take note loh...you can check the paypal website for the fee charges...they wrote very clearly

stanelyshane

Well, I also do not much idea about the online payment mode like western union, T/T, pay-pal and COD. I am thankful to your stuff that I can get the valuable information about it. Another thing is that there is also require to know the differences among them.