Payment Procedure
1.
The advantage of TransferWise’s transfer business is that the fee rate is much lower than that of traditional banks, and it can support currency transfers in more than 40 countries. Transferwise’s target customers are young groups of business professionals and small and medium-sized enterprises that need to pay salaries across borders.
Adopt a peer-to-peer model to achieve the most perfect foreign currency exchange service. Traditional big banks make the first payment through the inter-industry lending market, and they charge some service fees, which are usually invisible. TransferWise uses the real middle market exchange rate and only charges a very low fee. If it is a small transfer, the fee is fixed. If the transfer amount is within £300, only £1 will be charged.
Payment process
2.
PayPal, an Internet third-party payment service provider headquartered in San Jose, California, allows funds to be transferred between users who use e-mail to identify identities, avoiding the traditional methods of mailing checks or remittances.
