{"id":59432,"date":"2021-09-24T16:10:53","date_gmt":"2021-09-24T08:10:53","guid":{"rendered":"https:\/\/jingsourcing.com\/?p=59432"},"modified":"2025-05-19T10:16:07","modified_gmt":"2025-05-19T02:16:07","slug":"b-international-payment-methods","status":"publish","type":"post","link":"https:\/\/jingsourcing.com\/b-international-payment-methods\/","title":{"rendered":"11 Payment Methods for International Trade with Descriptions in Depth"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"59432\" class=\"elementor elementor-59432\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-af407b3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"af407b3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-306234a\" data-id=\"306234a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-752509d elementor-widget elementor-widget-text-editor\" data-id=\"752509d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>If you want to run an international business, this topic is quite important for you. Before doing business and making a deal, you should know transfer methods and channels. In this way, the security and convenience of transactions can be guaranteed; after all, money is the first in business. This article introduces and lists some mainstream payment methods for <a href=\"https:\/\/jingsourcing.com\/b-international-trade-types\/\" target=\"_blank\" rel=\"noopener\">international trade<\/a> with detailed descriptions.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-3715afa elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3715afa\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-ca5b792\" data-id=\"ca5b792\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-66a3531 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"66a3531\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#c1\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">What are International Payment Methods?<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#c2\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">What does International Payment Mean to Global Economy?<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#c3\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">11 Payment Methods for International Trades<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-a2fa90b\" data-id=\"a2fa90b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-13e83bf elementor-widget elementor-widget-spacer\" data-id=\"13e83bf\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1e4430d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1e4430d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-de08549\" data-id=\"de08549\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-36c489e elementor-widget elementor-widget-heading\" data-id=\"36c489e\" data-element_type=\"widget\" id=\"c1\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What are International Payment Methods?\n\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-82690ad elementor-widget elementor-widget-text-editor\" data-id=\"82690ad\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>International payment methods, also cross border payment or global payment methods, refer to tools or platforms that two or more parties use in cross border transactions and other international economic activities to conduct payments.<\/p><p>It is inevitable that two or more currencies would be used in the cross-border transaction, but not the same currency makes a deal directly. International payments connect companies, individuals, banks and third parties of settlements so that they can operate and make currency payments in more than two countries.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a23dd24 elementor-widget elementor-widget-spacer\" data-id=\"a23dd24\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-40b045e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"40b045e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-368489e\" data-id=\"368489e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0ffa18f elementor-widget elementor-widget-heading\" data-id=\"0ffa18f\" data-element_type=\"widget\" id=\"c2\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What does International Payment Mean to the Global Economy?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b08b2f1 elementor-widget elementor-widget-text-editor\" data-id=\"b08b2f1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>International payments are born with the import and export of commodities, and in turn, their development improves international economic activities. Meanwhile, with developments of international economic activities, the applied range of international payments is extending as well.<\/p><p>International payments have promoted the development of trade in a global context. However, it is a double-edged sword, which brings benefits as well as negative factors. When making a deal with foreign customers, you need a system or platform to accept cross-border payments, which is safe and reliable without charging unreasonable fees.<\/p><p>Usually, international payments are different from domestic payment methods. Because of national and regional restrictions, many payments and transfers cannot complete directly. Meanwhile, to prevent some economic crimes with illegal means, cross-border payments are more complex than domestic transferring money in the procedure restricted by conditions, which brings impacts across national boundaries.<\/p><p>Under this premise, many payment methods have been derived. However, different payment methods add uncertainties, such as security, speed of account, and service charges.<\/p><p>This article will list the main international payment methods or platforms used widely in today\u2019s international trades for your reference.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f2f1dba elementor-widget elementor-widget-spacer\" data-id=\"f2f1dba\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-406bddf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"406bddf\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-46a0856\" data-id=\"46a0856\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-40a5888 elementor-widget elementor-widget-heading\" data-id=\"40a5888\" data-element_type=\"widget\" id=\"c3\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">11 Payment Methods for International Trades<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be72261 elementor-hidden-tablet elementor-hidden-mobile elementor-widget elementor-widget-spacer\" data-id=\"be72261\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3be5314 elementor-hidden-tablet elementor-hidden-mobile elementor-widget elementor-widget-html\" data-id=\"3be5314\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<table style=\"height: 216px;width: 100%;border-collapse: collapse;border-color: #E8E8E8\" border=\"1\" cellpadding=\"5\">\r\n<tbody>\r\n<tr style=\"height: 18px\">\r\n<td style=\"width: 28.7879%;height: 18px\"><strong>Payment Methods<\/strong><\/td>\r\n<td style=\"width: 33.6173%;height: 18px\"><strong>Payment Terms<\/strong><\/td>\r\n<td style=\"width: 37.5947%;height: 18px\"><strong>Features<\/strong><\/td>\r\n<\/tr>\r\n<tr style=\"height: 18px\">\r\n<td style=\"height: 18px;width: 28.7879%\"><span style=\"text-decoration: underline\"><a href=\"#a1\">Mail Transfer (MT)<\/a><\/span><\/td>\r\n<td style=\"width: 33.6173%;height: 18px\">Remittance, bank credit<\/td>\r\n<td style=\"width: 37.5947%;height: 18px\">Long process, cheap fees<\/td>\r\n<\/tr>\r\n<tr style=\"height: 18px\">\r\n<td style=\"width: 28.7879%;height: 18px\"><span style=\"text-decoration: underline\"><a href=\"#a1\">Telegraphic Transfer (TT)<\/a><\/span><\/td>\r\n<td style=\"width: 33.6173%;height: 18px\">Remittance, bank credit<\/td>\r\n<td style=\"width: 37.5947%;height: 18px\">Safe, used widely, charge fees<\/td>\r\n<\/tr>\r\n<tr style=\"height: 18px\">\r\n<td style=\"width: 28.7879%;height: 18px\"><span style=\"text-decoration: underline\"><a href=\"#a1\">Demand Draft (DD)<\/a><\/span><\/td>\r\n<td style=\"width: 33.6173%;height: 18px\">Remittance, bank credit<\/td>\r\n<td style=\"width: 37.5947%;height: 18px\">Long process, cheap fees<\/td>\r\n<\/tr>\r\n<tr style=\"height: 18px\">\r\n<td style=\"width: 28.7879%;height: 18px\"><span style=\"text-decoration: underline\"><a href=\"#a4\">Collections<\/a><\/span><\/td>\r\n<td style=\"width: 33.6173%;height: 18px\">Business credit, Credit period<\/td>\r\n<td style=\"width: 37.5947%;height: 18px\">A long and complex process<\/td>\r\n<\/tr>\r\n<tr style=\"height: 18px\">\r\n<td style=\"width: 28.7879%;height: 18px\"><span style=\"text-decoration: underline\"><a href=\"#a5\">Letter of Credit<\/a><\/span><\/td>\r\n<td style=\"width: 33.6173%;height: 18px\">Bank credit<\/td>\r\n<td style=\"width: 37.5947%;height: 18px\">Different types in demand<\/td>\r\n<\/tr>\r\n<tr style=\"height: 18px\">\r\n<td style=\"width: 28.7879%;height: 18px\"><span style=\"text-decoration: underline\"><a href=\"#a6\">International factoring&nbsp;<\/a><\/span><\/td>\r\n<td style=\"width: 33.6173%;height: 18px\">Credit period, business credit<\/td>\r\n<td style=\"width: 37.5947%;height: 18px\">Escrow service<\/td>\r\n<\/tr>\r\n<tr style=\"height: 18px\">\r\n<td style=\"width: 28.7879%;height: 18px\"><span style=\"text-decoration: underline\"><a href=\"#a7\">Bank cards<\/a><\/span><\/td>\r\n<td style=\"width: 33.6173%;height: 18px\">Cash in advance, bank credit<\/td>\r\n<td style=\"width: 37.5947%;height: 18px\">high charge fees, safe<\/td>\r\n<\/tr>\r\n<tr style=\"height: 18px\">\r\n<td style=\"width: 28.7879%;height: 18px\"><span style=\"text-decoration: underline\"><a href=\"#a8\">Paper checks<\/a><\/span><\/td>\r\n<td style=\"width: 33.6173%;height: 18px\">Cash in advance<\/td>\r\n<td style=\"width: 37.5947%;height: 18px\">Not quite safe, long process<\/td>\r\n<\/tr>\r\n<tr style=\"height: 18px\">\r\n<td style=\"width: 28.7879%;height: 18px\"><span style=\"text-decoration: underline\"><a href=\"#a9\">Open Account<\/a><\/span><\/td>\r\n<td style=\"width: 33.6173%;height: 18px\">Credit period<\/td>\r\n<td style=\"width: 37.5947%;height: 18px\">Cash in bank<\/td>\r\n<\/tr>\r\n<tr style=\"height: 18px\">\r\n<td style=\"width: 28.7879%;height: 18px\"><span style=\"text-decoration: underline\"><a href=\"#a10\">Consignment<\/a><\/span><\/td>\r\n<td style=\"width: 33.6173%;height: 18px\">Business credit<\/td>\r\n<td style=\"width: 37.5947%;height: 18px\">Third parties, on credit<\/td>\r\n<\/tr>\r\n<tr style=\"height: 18px\">\r\n<td style=\"width: 28.7879%;height: 18px\"><span style=\"text-decoration: underline\"><a href=\"#a11\">Online payments<\/a><\/span><\/td>\r\n<td style=\"width: 33.6173%;height: 18px\">Login an account, online<\/td>\r\n<td style=\"width: 37.5947%;height: 18px\">Limited in conditions<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2759955 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2759955\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9d1dd30\" data-id=\"9d1dd30\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-159f2f5 elementor-hidden-tablet elementor-hidden-mobile elementor-widget elementor-widget-spacer\" data-id=\"159f2f5\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3d31365 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3d31365\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f265780\" data-id=\"f265780\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a0787f6 elementor-widget elementor-widget-heading\" data-id=\"a0787f6\" data-element_type=\"widget\" id=\"a1\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Remittance<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8995f89 elementor-widget elementor-widget-text-editor\" data-id=\"8995f89\" data-element_type=\"widget\" id=\"a1\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>As it is known to all, traditional cash payment is not applicable for block trades in cross-border boundaries. Cash payments confine to small volumes of transactions, countries and regions. Therefore remittance is one of the most mainstream ways of international settlement payments.<\/p><p>Remittance refers to that the payer sends money to the receiver through the third party and settlement tools.<\/p><p>In the process of remittance, three parties, including the payer, receiver and the third party organization participate in it. The third party, usually a bank, undertakes transactions, which includes remitting bank and receiving bank. They will charge certain fees accordingly.<\/p><p>General remittance ways include mail transfer (MT), wire transfer or telegraphic transfer (TT), and demand draft (DD).<\/p><p>Mail transfer (MT) means payers send money to the local bank, and then the bank issues a payment order. Then the post office sends the order to the bank where the receiver is located. The expense of MT is low but its remittance speed is slow.<\/p><p><a href=\"https:\/\/jingsourcing.com\/b-what-is-telegraphic-transfer\/\" target=\"_blank\" rel=\"noopener\">Telegraphic Transfer (TT)<\/a>, also called wire transfer, refers to the payer requires that the local bank sends a telegram or uses a telex way to the bank where the receiver is located, and entrusts it to send money to the receiver. Thanks to the development of telecommunication technology, many banks have established direct communications. Its expense, as well as error rate, is low.<\/p><p>Demand draft (DD) refers to the remitting bank responding to the application from the payer and then drawing a <a href=\"https:\/\/jingsourcing.com\/b-bill-of-exchange\/\" target=\"_blank\" rel=\"noopener\">bill<\/a> which makes the receiving bank the payer. The receiver will receive the bill and get money from the receiving bank.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f4e87fd elementor-widget elementor-widget-spacer\" data-id=\"f4e87fd\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-82c079d elementor-widget elementor-widget-heading\" data-id=\"82c079d\" data-element_type=\"widget\" id=\"a4\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Collections<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5f2c5ae elementor-widget elementor-widget-text-editor\" data-id=\"5f2c5ae\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Collections usually include clean collections and documentary collections.<\/p><p>Clean collection means the collection is only accompanied by non-shipping documents, like invoices and advance payment lists. This kind of payment is widely used in incidental charges of business, payment balance, commission charges, sample charges and non-trade settlements.<\/p><p>Documentary collection refers to a kind of payment method that export merchants draw drafts and entrust the exporter\u2019s bank to receive money from the import merchants through its branch or agency.<\/p><p>The <a href=\"https:\/\/jingsourcing.com\/b-da-dp-payment-terms\/\" target=\"_blank\" rel=\"noopener\">types of the documentary collection<\/a> include D\/P (document against payment), D\/A (document against acceptance); D\/P also includes D\/P sight and D\/P after sight.<\/p><p>D\/P requires the importing merchant to pay the face account of the demand draft. Precisely, it means that the bank should get the payment when the draft is shown, and before <a href=\"https:\/\/jingsourcing.com\/b-shipping-documents\/\" target=\"_blank\" rel=\"noopener\">a series of shipping documents<\/a> are given. This form of payment lowers the risks of sellers.<\/p><p>D\/A requires the importing merchant to finish the payment on the stipulated date. If the buyer accepts D\/A after sight, the bank would provide documents to it.<\/p><p>Collections are a kind of trade financing on the basis of business credit. Once the importer refuses to pay, the exporter has to take big risks, so the business practice and credits of exporters should be taken into account.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6557c97 elementor-widget elementor-widget-image\" data-id=\"6557c97\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"901\" height=\"376\" src=\"https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/collections.png\" class=\"attachment-large size-large wp-image-59440 lazyload\" alt=\"collections\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27901%27%20height%3D%27376%27%20viewBox%3D%270%200%20901%20376%27%3E%3Crect%20width%3D%27901%27%20height%3D%273376%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-orig-src=\"https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/collections.png\" data-srcset=\"https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/collections-200x83.png 200w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/collections-300x125.png 300w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/collections-400x167.png 400w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/collections-600x250.png 600w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/collections-768x320.png 768w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/collections-800x334.png 800w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/collections.png 901w\" data-sizes=\"auto\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5d840e2 elementor-widget elementor-widget-spacer\" data-id=\"5d840e2\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3f6b145 elementor-widget elementor-widget-heading\" data-id=\"3f6b145\" data-element_type=\"widget\" id=\"a5\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Letter of Credit<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bf9ef5f elementor-widget elementor-widget-text-editor\" data-id=\"bf9ef5f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>In international trade activities, both sellers and buyers may not trust each other. On one side, buyers worry that after payment, the seller would not deliver goods according to contract requirements; while sellers worry that the buyer would not pay after delivering goods or presenting shipping documents.<\/p><p>In this way, they need two banks to be their guarantors as agenting collection and tendering documents, which business credit is replaced by bank credit. In this process, the bank uses the tool called letter of credit.<\/p><p><a href=\"https:\/\/jingsourcing.com\/b-import-lc-and-export-lc\/\" target=\"_blank\" rel=\"noopener\">Letters of credit<\/a> refer to a document from a bank or a financial institution to guarantee sellers receive the full amount of money from buyers. Once the buyer\u2019s bank receives the proof, it shows that both sellers and buyers satisfy all terms and conditions of the deal, and it should finish the payment to the exporter as soon as possible.<\/p><p>When there is no credit record of buyers available for sellers, letter of credit is a significant way to ensure payment. Anyway, it is also beneficial for buyers because they don\u2019t have to pay before receiving the goods they ordered. It provides more balance for mitigating potential risks between sellers and buyers. However, banks need to charge certain fees for issuing the letter of credit. Letters of credit have many types, including<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7c5a0bf elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"7c5a0bf\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-bookmark\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M336 0H48C21.49 0 0 21.49 0 48v464l192-112 192 112V48c0-26.51-21.49-48-48-48zm0 428.43l-144-84-144 84V54a6 6 0 0 1 6-6h276c3.314 0 6 2.683 6 5.996V428.43z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Documentary letter of credit<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-bookmark\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M336 0H48C21.49 0 0 21.49 0 48v464l192-112 192 112V48c0-26.51-21.49-48-48-48zm0 428.43l-144-84-144 84V54a6 6 0 0 1 6-6h276c3.314 0 6 2.683 6 5.996V428.43z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Revocable letter of credit<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-bookmark\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M336 0H48C21.49 0 0 21.49 0 48v464l192-112 192 112V48c0-26.51-21.49-48-48-48zm0 428.43l-144-84-144 84V54a6 6 0 0 1 6-6h276c3.314 0 6 2.683 6 5.996V428.43z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Irrevocable letter of credit<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-bookmark\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M336 0H48C21.49 0 0 21.49 0 48v464l192-112 192 112V48c0-26.51-21.49-48-48-48zm0 428.43l-144-84-144 84V54a6 6 0 0 1 6-6h276c3.314 0 6 2.683 6 5.996V428.43z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Confirmed letter of credit<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-bookmark\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M336 0H48C21.49 0 0 21.49 0 48v464l192-112 192 112V48c0-26.51-21.49-48-48-48zm0 428.43l-144-84-144 84V54a6 6 0 0 1 6-6h276c3.314 0 6 2.683 6 5.996V428.43z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Red clause letter of credit<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-bookmark\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M336 0H48C21.49 0 0 21.49 0 48v464l192-112 192 112V48c0-26.51-21.49-48-48-48zm0 428.43l-144-84-144 84V54a6 6 0 0 1 6-6h276c3.314 0 6 2.683 6 5.996V428.43z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Payment, accepting and negotiating letters of credit<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-bookmark\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M336 0H48C21.49 0 0 21.49 0 48v464l192-112 192 112V48c0-26.51-21.49-48-48-48zm0 428.43l-144-84-144 84V54a6 6 0 0 1 6-6h276c3.314 0 6 2.683 6 5.996V428.43z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Transferable letter of credit<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-23ce0c2 elementor-widget elementor-widget-text-editor\" data-id=\"23ce0c2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p class=\"MsoNormal\"><span lang=\"EN-US\">You need to choose the right one according to your business need and requirements.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eb8d315 elementor-widget elementor-widget-image\" data-id=\"eb8d315\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"768\" height=\"341\" src=\"https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/letter-of-credit.png\" class=\"attachment-large size-large wp-image-104574 lazyload\" alt=\"letter of credit\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27768%27%20height%3D%27341%27%20viewBox%3D%270%200%20768%20341%27%3E%3Crect%20width%3D%27768%27%20height%3D%273341%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-orig-src=\"https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/letter-of-credit.png\" data-srcset=\"https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/letter-of-credit-200x89.png 200w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/letter-of-credit-300x133.png 300w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/letter-of-credit-400x178.png 400w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/letter-of-credit-600x266.png 600w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/letter-of-credit.png 768w\" data-sizes=\"auto\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ad56440 elementor-widget elementor-widget-spacer\" data-id=\"ad56440\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0c60fd5 elementor-widget elementor-widget-heading\" data-id=\"0c60fd5\" data-element_type=\"widget\" id=\"a6\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">International Factoring<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-64d470e elementor-widget elementor-widget-text-editor\" data-id=\"64d470e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>International factoring refers to that on the basis of business credit, after delivering goods; exporters transfer the possession of invoices for accounts receivable and shipping documents to factors to get most loans of receivable accounts. If the importer refuses or delays to pay in the future, the factor should assume payment liability. In factoring business, the factor needs to assume the first payment responsibility.<\/p><p>International factoring usually includes two modes of operation, a single factor system and a double factor system. The former only involves one side of the factor; the latter involves both factors of importer and exporter. International factoring usually uses a double factor system, referring to four parties, the importer and exporter, both factors of them.<\/p><p>International factoring protects exporters in credit risks, while the factor only assumes financial risks. If importers refuse to pay for other reasons, like goods quality or quantity, the factor is derelict of duty.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-69df0c0 elementor-widget elementor-widget-image\" data-id=\"69df0c0\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"768\" height=\"317\" src=\"https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/international-factoring.png\" class=\"attachment-large size-large wp-image-104575 lazyload\" alt=\"international-factoring\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27768%27%20height%3D%27317%27%20viewBox%3D%270%200%20768%20317%27%3E%3Crect%20width%3D%27768%27%20height%3D%273317%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-orig-src=\"https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/international-factoring.png\" data-srcset=\"https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/international-factoring-200x83.png 200w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/international-factoring-300x124.png 300w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/international-factoring-400x165.png 400w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/international-factoring-600x248.png 600w, https:\/\/jingsourcing.com\/wp-content\/uploads\/2021\/09\/international-factoring.png 768w\" data-sizes=\"auto\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e1e1b02 elementor-widget elementor-widget-spacer\" data-id=\"e1e1b02\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3078f3c elementor-widget elementor-widget-heading\" data-id=\"3078f3c\" data-element_type=\"widget\" id=\"a7\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Bank Cards<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6f46e5d elementor-widget elementor-widget-text-editor\" data-id=\"6f46e5d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Bank cards are a traditional way to transfer money in trade, used widely in the past. Bank cards mainly include credit cards and prepaid debit cards to make deals. Both of them are in the payment term of cash in advance.<\/p><p>Credit card payments can transfer money directly between sellers and buyers, especially for small amounts of trades. However, users need to choose international credit cards and start related services to realize, which are different from the cards used in domestic.<\/p><p>A prepaid debit card is similar to a credit card; while the former can transfer money to a receiver who has no bank account on the basis of electronic payments. The payer can use funds once he deposits the money. It is a kind of fast and convenient payment for international trade.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d20a953 elementor-widget elementor-widget-spacer\" data-id=\"d20a953\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-51933c1 elementor-widget elementor-widget-heading\" data-id=\"51933c1\" data-element_type=\"widget\" id=\"a8\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Paper Checks<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b75f331 elementor-widget elementor-widget-text-editor\" data-id=\"b75f331\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Paper check payment is a traditional payment way to transfer a certain amount of money from one bank or payers to another bank or receivers through paper checks. The receiver can make the check cash and deposit it directly into bank accounts.<\/p><p>Precisely, the whole process is complicated. First, the payer should make out a check, and then the bank of the payer needs to ensure his bank account has enough money to make the check effective and release the money to the receiver. When the receiver gets the check, he can use it to withdraw money. In this process, banks need to be the medium to help each step forward.<\/p><p>This payment method has been used widely in most cross-border trade cases, convenient for a large number of deals. But later, with other payment methods developing, paper checks have exposed weaknesses gradually.<\/p><p>For example, the whole process would be more complex if different types of currencies are used to make a deal. Meanwhile, nobody can ensure the security of paper checks during the post, and it cannot prevent the privacy of both parties from disclosure. It also takes a long time to finish the <a href=\"https:\/\/jingsourcing.com\/b-international-payment-process\/\" target=\"_blank\" rel=\"noopener\">whole process of money transfer<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5659dcc elementor-widget elementor-widget-spacer\" data-id=\"5659dcc\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-50903b6 elementor-widget elementor-widget-heading\" data-id=\"50903b6\" data-element_type=\"widget\" id=\"a9\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Open Account<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-56ec2d6 elementor-widget elementor-widget-text-editor\" data-id=\"56ec2d6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The open account payment is a type of credit loan method in international trades.It requires the goods to be delivered and soldbefore the payment. In this way, buyers would ask the seller to open an account and promise to pay within certain days. \u00a0<\/p><p>This payment method is beneficial for importers while it is a risk for exporters, and this method is normal in some small countries. Meanwhile, exporters can ask for more conditions and protections for extra credit insurance.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5cb6e5b elementor-widget elementor-widget-spacer\" data-id=\"5cb6e5b\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-08be881 elementor-widget elementor-widget-heading\" data-id=\"08be881\" data-element_type=\"widget\" id=\"a10\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Consignment<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8ba1c5a elementor-widget elementor-widget-text-editor\" data-id=\"8ba1c5a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Consignment payment is a method of credit in some international trade. It refers to the importer providing the goods to distributors and they sell to their customers; after selling, the importer finishes the payment to the exporters. Usually, importers cannot ensure the payment becausethe goods are in the hands of distributors.<\/p><p>This method is beneficial for importers and lowers their costs as well as risks. Exporters have to find reliable distributors and logistics suppliers to make the payment and transaction on the rails.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2819a84 elementor-widget elementor-widget-spacer\" data-id=\"2819a84\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d65e20a elementor-widget elementor-widget-heading\" data-id=\"d65e20a\" data-element_type=\"widget\" id=\"a11\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Online Payments<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7769de5 elementor-widget elementor-widget-text-editor\" data-id=\"7769de5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p data-start=\"75\" data-end=\"322\">With the development of modern technology and globalization, online payments have become one of the most widely used methods in international trade. They are typically supported by <a href=\"https:\/\/jingsourcing.com\/b-international-payment-gateways\/\" target=\"_blank\" rel=\"noopener\">payment gateways<\/a> such as <a href=\"https:\/\/jingsourcing.com\/b-paypal-send-money-internationally\/\" target=\"_blank\" rel=\"noopener\">PayPal<\/a>, Alipay, ACH, or Amazon Pay.<\/p><p data-start=\"324\" data-end=\"393\">There are several reasons why online payments have become so popular.<\/p><p data-start=\"395\" data-end=\"535\"><strong data-start=\"395\" data-end=\"404\">First<\/strong>, they are easy to use. As long as you have the necessary information, you can follow simple steps to complete the payment process.<\/p><p data-start=\"537\" data-end=\"667\"><strong data-start=\"537\" data-end=\"547\">Second<\/strong>, online payments are fast, both in terms of operation and settlement time. Funds usually arrive within just a few days.<\/p><p data-start=\"669\" data-end=\"1085\"><strong data-start=\"669\" data-end=\"678\">Third<\/strong>, they offer a high level of security. You can track which account or bank received the payment. To further protect your payment system, especially against phishing or redirection attacks, implementing strong <a href=\"https:\/\/nordlayer.com\/blog\/what-is-dns-security-and-why-is-it-essential-for-your-business\/\" target=\"_blank\" rel=\"noopener\">DNS security<\/a> protocols can help prevent tampering with domain name resolution during transactions.<\/p><p data-start=\"1087\" data-end=\"1216\"><strong data-start=\"1087\" data-end=\"1103\">Additionally<\/strong>, the risk of the recipient entering incorrect information is quite low, as long as the key details are accurate.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-054e92e elementor-widget elementor-widget-spacer\" data-id=\"054e92e\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-61a01c9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"61a01c9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4076496\" data-id=\"4076496\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c77395c elementor-widget elementor-widget-text-editor\" data-id=\"c77395c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>The End <\/strong><\/p><p>If you think this article is helpful for you, please leave your comment and share it. Your support drives us to update more useful articles.\u00a0<\/p><p>If you want to send money to China, you can read another article on our website:<\/p><ul><li><a href=\"https:\/\/jingsourcing.com\/how-to-send-money-to-china\/\" target=\"_blank\" rel=\"noopener\">How to Send Money to China for Lower Cost?<\/a><\/li><li><div data-zone-id=\"xr181ikccpkmmphtwokwf4umre0doktummkxc1lvbhj6nnpvr3mc8ravlas520jmelek9v\" data-line-index=\"0\"><a href=\"https:\/\/jingsourcing.com\/b-alibaba-payment\/\" target=\"_blank\" rel=\"noopener\">11 Alibaba Payment Methods for Paying to Suppliers on Alibaba<\/a><\/div><\/li><\/ul><p>We\u2019re Jingsourcing, a leading sourcing agent in China. If you want to start international trades but without any experience, please <a href=\"http:\/\/www.jingsourcing.com\" target=\"_blank\" rel=\"noopener\">CONTACT US <\/a>without hesitation!<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>If you want to run an international business, this topic is quite important for you. Before doing business and making a deal, you should know transfer methods and channels. In this way, the security and convenience of transactions can be guaranteed; after all, money is the first in business. This article introduces and lists some [&hellip;]<\/p>\n","protected":false},"author":21,"featured_media":99344,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[96],"tags":[],"class_list":["post-59432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-amazon-ecommerce"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.6 (Yoast SEO v25.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>11 Payment Methods for International Trade with Descriptions in Depth<\/title>\n<meta name=\"description\" content=\"This article introduces main payment methods for international trade, and lists several cross-border payments used widely.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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