New service helps Portuguese businesses collect payment

By Ricardo Chaves [email protected]

Ricardo Chaves is Operations Director of Money Mais, the financial services company based in Almancil. Money Mais is an independent mortgage advisor and provides foreign exchange services in association with Moneycorp, who are one of the UK’s leading foreign exchange and international money transfer providers.

Businesses who work with UK clients are familiar with the difficulties that arise from collecting payments from international clients.

How many man hours are wasted calling clients to confirm that payments have been sent and then checking bank accounts to see if payments have arrived?

All in all, the whole process is fraught with frustration and delays, which can sometimes affect the business/client relationship; the client can be perceived as untrustworthy and the business seen as money-grabbing, when all along the complications are caused by peculiarities in the international banking system.

These problems can now be put behind us as Moneycorp (www.moneycorp.com) launches their PayCollect service in Portugal.

PayCollect is a business tool which allows Portuguese businesses to request payment from their UK clients via a secure online platform.

The client receives an email with the details of the payment request and follows a secure link which allows them to make an immediate payment using their Sterling debit card.

The payment screen is just like a checkout for an online purchase. The foreign exchange rates used for the transaction are very competitive and will be live rates at the time of making the payment.

All transaction charges are clearly laid out so the client can see exactly what the Euro payment will cost them in GBP.

The client can send their payment from the comfort of their own home or office at any time of day or night and they don’t have to wait to call or go in person to their bank to arrange an international payment. 

What’s more, making the payment through PayCollect will cost a lot less than sending an international payment through a UK bank.

The beauty of this system is that once the client has made the payment, the business user can immediately see that funds are being processed; this gives both parties peace of mind and removes the problem of checking with the bank to see if client funds have arrived.

PayCollect is an ideal solution for any business that needs to collect payment from clients based in the UK.

The standard service has no set up fees,  saves businesses time and helps them to control cash flow more effectively; it is simple to operate and offers UK clients a fast, familiar and cost effective way of sending payment to their service provider.

An added advantage of the Moneycorp service is that the business user can have access to Moneycorp’s Global Payment System, a secure online foreign exchange and payments platform.

Through the system the user will be able to make payments and hold balances in multiple currencies in the UK, maintaining full control of the funds held in those accounts.

Money can be transferred between the holding accounts, and also transferred back to Portugal or another destination whenever necessary.

The PayCollect service is currently available for Sterling payment cards; payments with all major currencies will soon be available.

If you would like to find out more about how PayCollect could make a difference to your business and to arrange a live demonstration, please contact Money Mais on + 351 211 452 105, or email [email protected]