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How to find the best payment method for small businesses?

Updated time: Jun 08, 2021, 10:51 (UTC+03:00)

Are you seeking the best payment method for small businesses? Do you know that the most extreme challenges can lead to spectacular breakthroughs?

We all know that you - startups and small businesses (SMEs) - have had to work extremely hard in order to survive during the COVID 19 pandemic. The World Bank Group - global partnership, has articles on " Financial Inclusion" that will update you with the most recent information so that you can keep up with global trends. Consequently, there are issues with payment methods that many businesses are concerned about.

Understanding the limitations that you face when it comes to payment issues, DSBC FINANCIAL EUROPE will present to you the best payment method for small businesses to help you as new business owners in choosing the right payment partner.

How to find the best payment method for small businesses

The outstanding potential of small businesses (SMEs)

The development of SMEs in the global economy plays a critical role in the development of a poverty-free society. You will contribute to the job placement as well as input and production. According to experts in the finance industry, approximately 600 million jobs will be required globally, and you will be the businesses responsible for the majority of the jobs in emerging economies. Despite their importance to the economy's growth, experts estimate that roughly half of SMEs lack the ability to solve problems with finance - suitable payment methods.

How to find the best payment method for small businesses

Why some SMEs struggle to find the right payment method

Before you decide which is the best payment method for small businesses, it is necessary to understand that there are certain expectations many money transfer organizations fail to deliver. Many payment institutions are not permitted to transfer money internationally because they lack a government license. Furthermore, remittances to foreign countries must be carefully verified to avoid being used for malicious purposes. Due to the lengthy procedure, local banks are not interested in cross-border money transfer support services. “How to transfer money internationally?”, “How to open international card payments?” - These are common concerns when it comes to finding the right payment plans for your business. Moreover, Cross-border payments can also be a challenge for SMEs.

Money transfer organizations

Not all money transfer organizations can offer international payment services.Some banks and payment institutions only support domestic payments, and others are only supported within the EU. As a result, banks and payment institutions must be able to connect to the global money transfer network so that SMEs are able to earn benefits from this service. Each bank's ability to provide services varies due to the scope of their permitted activities.Furthermore, many payment institutions are new, they are not developed enough to provide diverse services.This leads to the possibility that you may have a bank account for an international business but unable to operate due to its lack of global support.

High standard for new SMEs

Newly established SMEs, like yours, frequently struggle to find the appropriate international payment institutions. Local banks are very strict in reviewing applications, and the standard for you to receive support is extremely high. Furthermore, the high standards prevent your profile from being reviewed; you might be ignored because you are too small in the middle of an ocean full of “big sharks”. You seek to transfer funds and make international payments, but they are not supported, this is a significant impediment to the growth of your business.

Banking can be too traditional sometimes

Agility and vitality are the extreme underlining characteristics of startups - SMEs like your. With SMEs' ultra-fast work-solving style, many traditional administrative procedures or transactions required to proceed in the bank's counter are no longer applicable.

Procedures and regulations are excessively wasting time between banks and you, the customer. You find it difficult to obtain a license to conduct international payments. We understand that expanding your business is your top priority. In order to provide you with a solution, here are some pointers to consider in order to find the most suitable payment partner.

How to find the best payment method for small businesses

Your primary concern will be identifying a suitable payment partner which supports corporate accounts for SMEs to transfer money internationally,or open International card payments. Your payment institution should be able to offer you the most suitable cross-border payment solution. When helping you open your corporate account, they must provide you with a payment product that brings you the best benefits.

Fintech companies could be exactly what you are looking for as they are able to handle your transactions efficiently and securely in record time, with reasonable prices.In addition, registration for opening an account, making transactions, and service support can all be done online, and the customer support teams of fintech companies are available 24/7.To sum up, you should find a payment partner who can help you transfer money internationally, be friendly with new businesses, and willing to help you anytime.

How to find the best payment method for small businesses

Know exactly what you want

You must know exactly what you want for your business. Which payment method is best for your company? If the scale of your business is limited to a single country, you should select money transfer organizations located in that country. In another way, you should choose SEPA payments if your target market is European nations or if your scale is worldwide, go with SWIFT payments.Therefore, Fintech companies will be the ideal partners for assisting you with cross-border payments. Fintech will carefully review the profile and plan all of the best options to assist you in opening a corporate account. The professionalism and assistance of Fintech companies are frequently mentioned on The World Bank Group’s blogs.

Choosing the right payment partner

DBSC FINANCIAL EUROPE is a reputable fintech company that you must appreciate. DSBC provides advanced financial technology solutions for customers. We support both SWIFT and SEPA payment methods for businesses in Europe and globally, provide International card payments, and support transfer money internationally. You should select a form that is appropriate to your geographical region and your scope. International companies need to consider a payment method that supports international money transfers, such as SWIFT. Businesses that solely conduct business in Europe should select SEPA transfer.

The policies of DSBC to assist you are extremely friendly, including dedicated assistance in reviewing applications to open corporate accounts. In addition, we have an e-banking service page and a mobile transaction app called DNBCnet. You can use this application to transfer money and pay online, manage accounts, use electronic debit cards, and manage cards. The entire process of opening a corporate account, from registration to money transfer, is completed exclusively online. Furthermore, a 24/7 customer support service is available to you at any time, anywhere.

How to find the best payment method for small businesses

Why you should choose us

DSBC provide international money transfer services within Europe - SEPA - and international money transfer - SWIFT, with a network of up to 170 countries and territories;

DSBC FINANCIAL EUROPE is the winner of Fintech Award 2021 by Wealth & Finance International

DSBC currently supports customers worldwide with a 100% online trading system and 24/7 customer support team.

DSBC owns an e-banking service page and a mobile transaction application called DNBCnet. Customers can transfer money online, manage accounts, and any function of a digital payment card.

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About Us

We are always proud of being an experienced Financial Institution in the global financial payment market.

We provide the best payment platform as well as worldwide money remittance service. "DSBC Financial Europe" UAB can assist you with different payment methods, whether it is a personal account or a business account.