In the modern world, with the development of technology, transactions in the financial sector have been updated through payment systems. Many entrepreneurs open accounts in payment systems in order to use them as a transit of finance. Therefore, a question of what a payment system is and how to open an account in a payment system are relevant for many businessmen.
What is a payment system?Before you open an account in a payment system, it’s worth figuring out, what kind of system it is and how it works.
A payment system is a combination of certain procedures, rules and technical infrastructure. Together, all this ensures the implementation of non-cash money transfers from one entity to another.
YB Case specialists carefully monitor the efficiency of existing payment systems and can provide you with qualified assistance in choosing a reliable payment system based on the type of activity of your company.
The specialists of our company offer you to consider the following payment systems:
We know the intricacies of their work and regularly interact with them, also we provide qualified assistance in drawing up agreements with favorable conditions for the client. Order personal advice on opening an account in the payment system with our expert.
A general information about payment systemsHaving decided to open an account in the payment system, pay attention to the following information:
- Powers of payment systems do not include:
- loan issuance;
- accepting deposits;
- securities trading.
- Many payment systems are participants of SWIFT and SEPA;
- Very often it is possible to carry out settlements not only with fiat currency, but also with electronic money in payment systems;
- A procedure for opening an account in the payment system is faster, than in a bank (often up to seven business days);
- Some payment systems provide services for the issuance of their VISA cards, Mastercard cards and others, which may be:
- corporate (in different currencies).
Such cards can be a good option for businessmen, who often travel abroad. Turning to our specialists for advice, you can get more detailed information about the benefits of such cards and the need to obtain them.
Opening an account in the payment system can be a profitable solution for companies, involved in export and import, as well as transfer payments in different currencies between different countries.
Benefits of payment systemsIf you decide to open an account in the payment system, the following advantages will be available to you:
- opening an account in the payment system remotely;
- the ability to manage your account remotely;
- a profitable currency exchange;
- saving money, because a cost of the service of opening an account in the payment system is much lower, than in a bank;
- the access to fast international transfers and payments.