Facts About T ransferring Money Digitally

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Facts about Transferring Money Digitally
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• E-commerce payment system facilitates the
  acceptance of electronically made payment methods
  for online transactions.
• Also known as Electronic Data Interchange (EDI),
  e-commerce payment systems have lately become
  increasingly popular owing to the ease of
  usability they offer.
• Thus, they are also being used as one of the top
  shopping and banking methods.

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Advantages of online money transfer

• There are NO clearance charges or hidden
  commission. The exchange rates to the mark.
• The funds will generally reach your overseas
  account within 24 hours and no longer than three
  business days, something for which banks take
  over a week.
• Online systems are built to the highest industry
  standards in order to provide you with your peace
  of mind assuring you that your money is in safe
  hands.

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Methods of transferring money online

• Credit cards one can easily make only money
  transfers or payments by using the details on
  their credit cards.
• Google Wallet The Google Wallet allows payments
  and transfer money online, while also featuring
  insurmountable levels of security.

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• Net Banking - This method is used by customers
  who have accounts enabled with Internet Banking.
  Instead of entering card details on the
  purchaser's site, in this system, the payment
  gateway allows one to specify which bank they
  wish to pay from.
• PayPal - This is a global e-commerce method
  allowing payments and money transfers to be made
  electronic alternatives.

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Necessary precautions

• Accessibility to worldwide money transfer some
  online money transfer companies have access to
  only some countries, while some offer facilities
  to all countries.
• Reliable internet connection - You cannot use a
  public computer to do online money transfers,
  never compromise the security of your online
  details.
• Fraud - this is something that is very
  deplorable. You should choose any online money
  transfer company that is secured and
  technologically adept to handle fraudulence.