02 Sep 2023
How would you feel if you were to send money online through old methods that appear more archaic than old in today’s fast-passing time? Where whatever you want to get in terms of information, etc., in a few moments and within a few clicks, your movement of money takes days?
Pretty frustrating. Right?
Here’s where the need for tech-driven online payment systems is felt the most. These systems have made online payments fast and convenient.
This blog will throw light on online payment systems and enlist the advantages you can have while using one of the world’s leading remittance service providers, ACE Money Transfer’s online payment system.
But first, let’s take a look at a brief background and a few relevant statistics.
The movement of money and the long time it supposedly takes should not be seen in isolation. Rather, attached to it are several other factors and many life essentials that depend on it.
According to an IOM UN Migration report, one in 30 people are migrants, with the total count of migrants worldwide standing at 281 million as of 2020, accounting for about 3.60% of the then-total global population.
Pressed by severe financial issues, people from developing countries travel to developed countries to earn a living. Yes, a significant number also go abroad to seek a high-quality education. However, the majority are driven by their acute financial needs.
They earn a living and transfer funds online to their respective countries. A World Bank Migration and Development Brief, published on November 30th 2022, said that with a growth rate of 5%, the quantum of remittances to low- to middle-income countries (LMICs) was $626 billion in 2022. It was lower by a big margin compared to the 10.2% increase in 2021, the same document continued to report.
Where you, as a migrant, can find jobs relatively easily, based on your education, experience, skills, etc., in foreign countries with robust economies and expansive job markets, you find it particularly hard to find the right service provider for transferring funds back home.
Because, after all, the core purpose of your expatriation is to support your family back home through a money transfer whose repetition is subject to your financial viability in a foreign land.
The mushroom growth of several methods of online money transfers has led to convenience, which in transferring your funds holistically is a big challenge nowadays, barring a few exceptions, as a few service providers will offer you convenience as a whole in the process.
Find out the reasons here why an Online Money Transfer Is The Best Way To Send Funds Home From Overseas.
You will have to compromise speed, for example, if you seek low fees or will have to pay extra to deliver funds swiftly, and so on.
But do not abandon hope yet!
First, understand the online payment system with its types and then find a company whose service features are indeed awe-inspiring!
In an online payment system, you exchange currency through the Internet and electronically. This payment system is anchored in some of the latest technologies through which you can make payments for your online shopping, pay bills, and carry out an online money transfer from afar for a host of reasons, including sending financial aid to your family back home as a migrant. Its different types include the following.
You can choose any of these payment types that complement your needs, but always remember that every payment type listed here is not fit for all payment types.
For example, where credit cards are suitable for paying for online subscriptions, shopping, etc., they may not be perfect for your remittance transfers, and so on.
Let’s now discuss the advantages of using ACE Money Transfer’s online payment system.
The best part is that you will get the following advantages from one window without compromising one to get another.
It takes between a few minutes to a few hours to deliver funds to the destination through the firm. And if you wish to send money to Pakistan from overseas, you will have it delivered in just 7 seconds!
Read it again to understand and transact with the firm to believe it!
This exceptional speed does not allow scammers to strike, in addition to multi-layered security protocols breaching, which is simply impossible.
The firm links its rates with the fluctuating global market, which allows you to initiate a transaction when you think the rates are most in your favour. Furthermore, you can ask for the latest rates right at the time of transfer, both on the app and the official website of the firm.
You can request to add a country, both for sending or receiving, if you do not find the name of the country on the list of given options. The firm will take just a few moments to add the country you desire.
Instead of keeping you confined to the given modes of payment, the firm allows you to request the addition of a payment method you deem appropriate.
The firm charges you a low fee, which is in proportion to the amount being processed. Furthermore, if the amount remains below a certain level, your transfers will likely remain free.
As a token of acknowledgement of the loyalty of its valued customers, the firm keeps launching promotional campaigns to dole out big prizes to the participants with easy steps to follow to participate.
This is how you can send funds and get the benefits listed above.
Expanding its network across borders, the firm has a presence in over 100 countries, which makes it easy for you to send funds almost anywhere across the world through your global money transfer with ACE Money Transfer and enjoy the huge advantages listed above.
What is ACE Money Transfer's Online Payment System?
ACE Money Transfer's Online Payment System is a digital platform that allows users to send money across borders, pay bills, and perform other financial transactions online. It offers various advantages over traditional methods, ensuring quick, safe, and convenient money transfers.
How is ACE Money Transfer's system more secure than other online payment systems?
ACE Money Transfer incorporates advanced encryption technologies, multi-factor authentication, and continuous monitoring to ensure the security of transactions. Their system is designed to protect users' sensitive information and prevent unauthorised access.
Are there any geographical restrictions when using ACE Money Transfer's Online Payment System?
While ACE Money Transfer offers services to many countries worldwide, there might be some geographical restrictions based on local regulations and partnerships. It's recommended to check their website or contact customer support for specific country-related queries.
How does the cost of using ACE Money Transfer compare to other online transfer systems?
ACE Money Transfer is competitive in its pricing, often offering lower transaction fees and better exchange rates compared to many other online transfer systems. However, costs can vary based on the amount, destination, and payment method, so it's always good to review the fee structure before making a transaction.
How long does it typically take for a recipient to receive funds through ACE Money Transfer's Online Payment System?
The transaction speed can vary based on several factors, including the destination country, payment method, and local bank processing times. However, many transactions are completed within minutes to a few hours, making it one of the fastest online transfer systems available.