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B2B Payments

Local Payment Methods: Top Australian Banks You Should Know for Your Online Payment Gateway

Australia’s payments has undergone a significant transformation in recent years, no less because of the shift towards digitisation and the adoption of internet technologies by its citizens. As a developed nation, it pays dividends for your eCommerce business if you are aware of consumer behaviours of this highly digitised nation. The banks of Australia have also had a hand to play in ensuring that their customers are served well in terms of providing a wide variety of payment services. But bef

Jan 25, 2023

6 min of read

Local Payment Methods in Brazil: How PIX QR Works in an International Payment Gateway

Having been a cash-reliant economy until recently, Brazil’s explosive growth as an eCommerce market is a clear indicator of its growth potential and dynamism. This is further supported by the increase from 38% in 2017 to 57.5% in 2022 for eCommerce penetration in Brazil, which shows a possible sudden shift towards the adoption of digitisation¹. One of the reasons for this is the emerging necessity for digital payment methods in the wake of the COVID pandemic and PIX QR appears to be the preferre

Jan 17, 2023

5 min of read

Local Payment Methods in Australia: How PayID Works In an International Payment Gateway

Since 2018, the New Payments Platform (NPP) has helped make significant strides in Australia’s digital payments infrastructure, a fact evidenced by the country’s current status as the 13th largest eCommerce market in the world¹. With a CAGR of about 13% between 2021 and 2025, it is estimated that Australia will outperform the global average by 10%¹. One of the main instruments behind NPP’s success is the real-time payment method, PayID. There is no shortage of payment providers that lure you in

Jan 3, 2023

4 min of read

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Customs & Incoterms

Customs & Incoterms

DDP vs. DAP vs. DAT: Understanding the Difference

Incoterms basically indicate the point from where you are held responsible for taking certain risks and the costs involved. Additionally, it can also affect the incoterms you have negotiated with your supplier as well as the expertise that are needed by you to understand the definite processes involved in importing your goods. DAP - What does it stand for when it comes to shipping logistics? As far as shipping logistics are concerned, DAP is an international trade term and an acronym for Delive

Nov 23, 2021

3 min of read

Customs & Incoterms

2010 vs. 2020: What Has Changed in Incoterms

The proliferation of the Internet, e-commerce, and opening up of international trade norms across the world have made it easier for buyers and sellers, importers and exporters across the world to conduct trade and business deals. The varying import and export norms and practices in different countries, however, present the risk of misunderstandings and disputes. To resolve these and to facilitate global trade the International Chamber of Commerce (ICC) has established the Intercoms (Internationa

Sep 9, 2021

2 min of read

Customs & Incoterms

Seller Obligations under DDP Incoterms

Every day, millions of tons of cargo are shipped to destinations within a country or overseas. Hence, rules and regulations regarding incoterms have been enacted to manage this national and international trade. There are 11 incoterms, and these list out the responsibilities of both buyers and sellers. Delivery Duty Paid (DPP) is one of these 11 incoterms and defines the responsibility of sellers. Courtesy of seller.alibaba.comObligations of the sellers DPP is a delivery agreement between the bu

Aug 5, 2021

2 min of read

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Export & Import

Export & Import

Why Do B2B Businesses Need Escrow Services

The global B2B e-commerce market was valued at US$14.9 trillion [https://www.statista.com/study/44442/statista-report-b2b-e-commerce/] in 2020; this valuation is five times that of the B2C market and does not even take into account other aspects of the B2B trade. A huge chunk of B2B business is cross-border trade [https://tazapay.com/guides/international-b2b-payments-a-simple-guide/] and as a whole, this sector deals in higher transaction values of goods and services. The high amount of funds i

Dec 15, 2021

3 min of read

Export & Import

Problems Escrow Is Intended to Solve

Escrow is a legal arrangement in which a third party temporarily holds large sums of money or property until a particular condition has been met (such as the fulfillment of a purchase agreement). Agents hold the funds or assets in digital 3rd party escrow accounts until the predetermined contractual obligations are met by the two parties. As such, digital escrow is emerging as a major alternative to other forms of major B2B and B2C payments such as letters of credit, while also solving age-old

Nov 23, 2021

3 min of read

Export & Import

Most Asked Questions on Letter of Credit

In international trade and business dealings, a Letter of Credit is a trusted way of mitigating the risk for vendors. Its universal acceptance amongst business-conducting parties comes from the ease with which it established a clear intent and ability to pay. Its importance can be gauged from the fact that the global letter of credit confirmation market is projected to reach a value of $4.99 billion [about:blank] by 2027. Yet, the term can be confusing for many people, especially those who are

Nov 23, 2021

4 min of read

See all 30 Posts

Guides

Using Local Payment Methods in Cross Border Payment Gateways: Faster, Cheaper, and Higher Conversions

With the advent of digital technology, more opportunities have emerged for businesses to expand their scope around the globe. However, digitisation in each region and country developed differently, and this also affects the way consumers behave around the world of online payments.

Dec 16, 2022

4 min of read

Guides

International B2B Payments – A Simple Guide

B2B (business to business) payments are the transactions between two companies, rather than between a company and a direct customer.

Oct 29, 2021

24 min of read

Guides

Export & Import – A Simple Guide

When goods move from one country to another, the following considerations are to be kept in mind: Physical movement of goods, insurance of goods, legal requirements within the countries

Sep 6, 2021

20 min of read

Guides

Customs and Incoterms – A Simple Guide

Incoterms, simply meaning INternational COmmercial TERMS, is a phrase first coined by the International Chamber of Commerce in 1936. A growing increase in the number of shippers and carriers globally, each using their own shipping phrases, had resulted in a great deal of confusion.

Jul 19, 2021

12 min of read

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