General

As we all know, payment methods are a must-have in business, and at least two aspects should be considered: safety, convenience, and diversity. The first factor that must be considered for safety, especially in foreign trade, and secondly, sellers and buyers will value the convenience and diversity of foreign trade payment methods.

In the process of buying and selling transactions, many transactions fail because the payment method is not agreed upon. Do you often meet in your life that when you buy something, the goods are selected, and the price is negotiated, but when you pay, the seller can only pay by WeChat, while the buyer only has money on Alipay. Although the capital can be turned over, it is a waste of time. In the case of high homogeneity of goods, the buyer will change shop to buy. For example, in the process of foreign trade, if the buyer needs to make a payment of T/T 100% (without credit insurance), the seller will not agree to this foreign trade payment method. So what are the payment methods for foreign trade transactions?

In foreign trade transactions, our commonly used payment methods for foreign trade include:

PayPal, a national payment tool for foreign trade transactions, is also the preferred payment channel for many foreign trade businesses. But this prerequisite is to communicate well.

L/C (Letter of Credit), in simple terms, is a conditional payment commitment from the bank to the exporter.

T/T (wire transfer), although it carries certain risks, is also a common payment method and is popular in foreign trade transactions.

D/P (Document against Payment) refers to a settlement method in which the collecting bank must pay the importer in full before handing over commercial (freight) documents to the importer. D/A payment (i.e. D/A).

Opencart Professional Edition, the payment method can be Alipay, online banking payment, UnionPay payment, WeChat payment, WeChat scanning payment, WeChat H5 payment and balance payment. In addition, there are more than 50 international popular payment methods for foreign trade, such as PayPal, Stripe, Skrill and Square.