FORMAS DE PAGO. PAGO ADELANTADO. PAGO A LA VISTA.

PAGO A PLAZO

PAYMENT METHODS.
With the advancement of technology and the continuous evolution of the Fintech sector, in recent years
different payment methods have emerged that have revolutionized the daily lives of everyone
consumers and businesses, who cannot stop incorporating the innovations if not
they want to become obsolete.

Conventional payment methods.

We could define them as those where transactions do not necessarily require

of electronic devices for the completion of the purchase. Many are used each
fewer times; however, others are still very commonly used by people.

Cash as a payment method

It is possibly the most well-known (and one of the oldest) forms of payment. Through
bills or coins (known as fiduciary, since people assign and trust that
has the value that indicates its denomination, regardless of the materials with which
that are made), people buy or hire goods and services.

Due to the difficulty in tracking its journey and how it is used, there is a marked trend.
to use more and more electronic money instead of cash.

Check as a form of payment

The idea of the check is basically the same regardless of the type it is (personal,
banking, etc.): the buyer extends a certified document with the amount to be paid to the
carrier, which changes for effect.

Cash on delivery as a payment method

In payment methods, an interesting case is that of cash on delivery, as some see it

they would be considered a subcategory of cash payments. It can be better understood as
through an example. On Facebook, there is the option to sell different products.
When a client chooses one, they contact their supplier and agree on a
delivery location. Once they see each other, the first one gives money to the second for the supply.

Electronic forms of payment

They are those in which the buyer makes the payment for a good or service with money.
electronic.

Credit and debit cards as forms of payment

One of the most widespread electronic payment modalities is cards, whether

debit or credit. The first makes use of the amount of cash available to a
consumer in their bank account at the time of purchase. The second makes use of
of a credit that must be paid by the buyer in the future.

Electronic transfer as a form of payment

This payment method consists of transferring a certain amount of money from a bank account to
Another one. To finalize it, the buyer must verify their identity using a code.
 provided by a bank. Both credit and debit cards as well as the transfer
they are services offered by banking institutions.

Online payment without the need for a card directly

Companies like PayPal or PayU serve as intermediaries between the customer and the seller
in the payment and collection of money for a product or service. Both register
your data on the site, so for example, the supplier does not have access to the data
consumer banking.

Payments through mobile devices

A trend that is becoming increasingly popular is payment through devices.

mobiles. With this modality, the user can buy directly at the point of sale.
or through applications. They regularly use a QR code to carry out the
purchase process. Some examples of these payment methods are Mobile Card, Android
Pay, Apple Pay or Twyp.

What mobile payment systems exist?

1. To pay with the mobile, it is mandatory to have an application downloaded that allows it.
allows and, due to the fact that this payment method is growing, it has already been
developed several mobile applications through which to pay. Next,
we leave you the most outstanding ones:
Apple Pay is the app that allows iPhone users to pay through
His smartphones. It is currently integrated into most banks in
Spain is already available in most European countries. Google Pay is the
another most used mobile payment app.
3. Bizum is the most widely used mobile payment application. It allows sending and receiving.
money through your bank app by simply entering the number of
the phone number of the person you want to send the money to. The process may take
just five seconds.
4. Facebook has also wanted to enter this market and has been doing so for a
time allows making payments through Facebook Messenger, associating the profile
on the social network to a card, a bank account, or to Paypal.
Virtual currency

Another special case is that of virtual currency. It only exists in digital space, but it has its
equivalence with cash. More and more people are using this payment method.
Some examples of this are Ethereum, Monero, Tether, and Bitcoin.
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International payment methods:

Main forms of international payment are the different agreements between buyer and
seller to determine the moment of payment for the merchandise or service. This moment of
payment is related to the shipment and/or delivery of the good or service.

PREPAYMENT

The advance payment is a mode of purchase whereby the customer delivers a

payment to the seller. This, in exchange for receiving a good or service in the future.
That is, advance payment means paying today and receiving the merchandise tomorrow, which
it implies an obligation on the part of the seller.

Advantages of payment in advance

Among the advantages of upfront payment are:

It is convenient for the seller in the sense that it ensures an income to their cash register.
For the buyer, the advantage is that they do not incur future debt for which
even have to pay financial expenses (interest).

there are also disadvantages:

The seller needs to gain the trust of the consumer, or have a monopoly on
market or a dominant position. Otherwise, the user will likely not
will be willing to make a payment for a good or service for which he does not know if he will be satisfied
satisfied.
For the buyer, as we mentioned above, the disadvantage is the risk. It can be
that the product disappoints and provides a lower benefit than expected. To reduce that
risk, a refund could be guaranteed, but this does not always happen.

CASH PAYMENT.

This refers to any payment received by the exporter once the shipment has been made, and
against the presentation to the importer of the representative documents of the merchandise and/or
services.

Among the international payment methods, this is the most favorable for the seller as the
the ownership of the documents (and therefore also of the merchandise) belongs to him until
moment when the external buyer makes the payment.

Reasons to use cash on delivery

Security in negotiation

The main advantage of using payment on delivery is that the seller retains possession of the
merchandise until the buyer accepts the terms of the documentation, so the
The seller owns the merchandise even if it is in another country.

Possibility of refund
If the seller has no assurance of payment, they do not deliver the merchandise. Since the documentation
it is the first thing that is delivered, if the seller does not find the deal convenient, they may receive the
refund of your merchandise quickly.

Intermediary

If the documentation is in order and the buyer refuses to pay for the goods, the bank
in some cases it is responsible for the payment. There is payment security, since the bank
makes responsible for the payment if the buyer declines their offer. Furthermore, if the buyer receives the
merchandise in good condition and accepts the documentation would be an immediate payment for the
seller.

Benefits for both parties

This payment method not only has benefits for the seller but also for the buyer.
buyer. If the buyer is not satisfied with the merchandise (if it has defects) and
presents evidence, is not obliged to pay for it.
PAYMENT IN INSTALLMENTS.

This term refers to any payment received by the exporter after having delivered the
shipping documents to the importer. This deadline will be agreed upon between the importer and
exporter and will normally depend on the shipping date, invoice date, date
of document presentation.

Advantages and disadvantages of installment purchasing

Among the advantages of buying on installments we have:

Allows the customer to purchase products o expensive services without

to become undercapitalized in the short term.
Increase commercial movement, even if it means a certain risk of
non-payment for the seller.

However, buying in installments also has disadvantages.

It can dangerously encourage consumerism in certain sectors of the population that

is vulnerable to defaulting. For example, if they lose their job.
The client feels satisfaction in the moment, but in the future we must take into account
account that must bear the responsibility of settling a debt, which can
generate stress.

Bibliography

Bibliography
Mondragón, V. (September 2017). Exporter’s Diary. Obtained from
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Ramirez, A. (November 14, 2017). InformaBTL. Retrieved from

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Tourism, M. d. (2006). COMMERCIAL AND CREDIT GUIDE FOR THE USER. Lima: Design,
Layout and Printing.

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Glossary:

Fintech: it is the contraction of the English words 'finance' and 'technology', which encompass
the services of companies in the financial sector which use new technologies
to create innovative financial products.

Credit:

Debt:

Cash on delivery

Bitcoin