Pros and Cons of Payment methods

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Pros and Cons of Payment Methods
Importing goods from a foreign market requires an effective payment method. Some of the products traded on foreign payment include the digital electronics such as the cameras and other valuable products. Identifying the right payments methods is important since it secures diverse trading activities.
PayPal and Payoneer are most commonly used for the online transactions. Paypal has a worldwide reach thus creating convenience for the clients. Moreover, it has effective investments that provide different types of payments to the customers. It further protects its customers from fraud and scam, and this has made it one of the most preferred and convenient payment methods of trade (Siddiqui et al., 1). On the other hand, it is faced with minimal challenges such as low payment limits for personal accounts, and this could hinder clients willing to transact large amounts of money.
Payoneer is another payment method which is fast, and reliable especially for instant withdrawal of cash. The Payoneer cards create a reliable transaction for traders across the world. Unlike other payment methods, it is convenient, fast, and instant. The local bank accounts can receive payments with different currencies and this is convenient for most of the international trade. The cards can further be used for the online shopping (Siddiqui et al., 1). On the other hand, it has a high amount of renewal fees. Also, live support chat is unavailable thus reducing the ability of the company to address urgent issues affecting the clients.

Both Payoneer and PayPal are reliable methods of conduction transactions across the world. For the business of transacting the digital electronics, it would be essential to consider the method that is reliable to both local and foreign currencies. Such methods should further allow the traders to conduct instant transactions.

Work Cited
Siddiqui, Mohammed Arif, and Muhammad Akram. “PASSMA: Fingerprint Payment System: A New Way to E-Pay.”