What is foreign transaction?

12 Apr 2022 By PAYCEC

A foreign transaction is a financial transaction that takes place in a currency other than local currency . This may be a purchase made abroad, an ATM withdrawal in another country, or an online purchase from a foreign retailer in the foreign currency.

Go global

A merchant account can assist merchants in increasing the profit, going online, and growing their business. In today's business world, all they need to do is accept credit cards from their shoppers. People are using cash less and less, so being able to accept credit cards can help them achieve the goals: reaching the wider market globally and contributing to the integration.

Acceptance of payments in a wide range of currencies

One of the most significant advantages of having a merchant account is the ability to accept multiple currencies. It means that the merchant can reach their target customers by crossing borders and accepting payments in their local currency. Furthermore, it slightly improves merchants' and customers' payment experiences, as well as their chances of return.

Accept several payment methods.

As can be seen, most local payment gateway service providers now accept a variety of payment cards, including credit and debit cards. Aside from that, it depends on which country accepts Visa, as Asians use it the most, while Europeans prefer Mastercards, and North Americans prefer AMEX and Mastercards.

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We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.

Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.

PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.

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