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PaySum1 – A new way to receive forex payments to South Africa


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Making a payment from one country to another using the regular bank transfer systems can be a long and often expensive process for both the client making the payment and the merchant receiving it. Merchants that do a lot of business outside of South Africa – such as those in the tourism & travel industry including tour operators, travel agencies and B&B owners – will benefit from an efficient and cost effective way to receive online money transfers to South Africa. PaySum1 offers a revolutionary new way of receiving forex payments to South Africa while saving on ‘SWIFT’ transfer fees and currency conversion fees. This system also offers the best exchange rates to Rands for clients making payments from abroad, as the PaySum1 system offers better rates that many clients would receive from their banks.

PaySum1 is compatible with the PayWeb, PayXML and PayBill online payment services offered by PayGate. The merchant will specify how much they should be paid in Rand. When the client chooses to make a payment using PaySum1, they will be taken through 3 payment pages where they are given a forex amount to pay into a PaySum1 bank account in their country as well as a deposit reference to use and an email address to send proof of payment to. The PaySum1 online process is then complete and the client should proceed to make the forex payment to the bank account they have been given. This payment can be done via wire transfer or internet bank transfer depending on the norms in the client’s country. Once the funds are received into the PaySum1 account in the client’s country they are transferred to South Africa and converted to Rands for payout to the merchant.

PaySum1 enables merchants to receive online money transfers to South Africa in an efficient and cost effective way. Clients receive the best exchange rates to Rands and PaySum1 is recommended for merchants that are often getting paid from overseas, such as the travel & tourism industry including tour operators, travel agencies and B&B owners.

Date Posted: 2010-11-30
Posted By: PayGate Payment Gateway
Listed under these Business Listing Categories: Financial services, IT Services & Products,

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