What Exactly Are Hidden Fees?

A secure and reliable B2B/B2C payments infrastructure such as Fincra helps to reduce the headaches associated with traditional banking, in many ways including not adding hidden markups to transaction fees.

Have you ever noticed an unexplainable debit on your bank account? Especially after you have made a transfer (international or local) or received payment, sometimes transfer fees or exchange rates may be higher than you originally anticipated. These occurrences may be due to hidden fees added on to the original transfer fee or exchange rate. https://blog.fincra.com/swift-payments-all-you-need-to-know/

The World Bank Group found that anyone sending or receiving payments to and from sub-Saharan Africa alone can expect to pay around 9.72% of the amount being sent or received in fees, with the highest sums being charged by commercial banks

Global merchants around the world lose billions annually in hidden fees when they receive payments locally and internationally. https://blog.fincra.com/ngn-virtual-bank-account-on-fincra/

If you own a travel agency or a global e-commerce company, multiple transfers go in and out of your business accounts daily, and some of these hidden fees do not always catch your eye, but their sum total commands your full attention.

What are some of the hidden fees one might accrue?

There are often two costs associated with sending and receiving payments globally: transaction fees and exchange rate. Transaction fees are the upfront fees that financial institutions or B2B payment solution providers charge for service, and an exchange rate is a fee that is charged to convert your funds. The hidden markups are usually added to either one of these fees.

https://blog.fincra.com/what-exactly-are-hidden-fees-2/


5 e-commerce trends to get on in 2022

It takes more than convenient payment options and an easy-to-use user interface for e-commerce businesses to thrive. Being adaptable to the latest technological trends is crucial for any e-commerce business.


Business owners all over the world are constantly searching for how to grow their companies and how economic trends might affect their growth. For e-commerce, the determining factors are varying given the ever-changing nature of technology.

It takes more than convenient payment options and an easy-to-use user interface for e-commerce businesses to thrive. Being adaptable to the latest technological trends is crucial for any e-commerce business.

It’s also not just changes in technology trends, the COVID-19 pandemic forced dramatic changes in the e-commerce industry. Like Shopify put it in their ‘Future of Ecommerce’ report, 10 years of growth in the industry happened in just 90 days because of the pandemic.

With the pandemic, there is an even more need for e-commerce businesses to watch the trends and keep up with them.

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