GlobalCollect Launches International Payment Solution

[Sydney, AUSTRALIA] GlobalCollect, a subsidiary of TNT Post Group (TPG) has launched WebCollect, an international payment solution that allows consumers and businesses in over 40 countries to buy or sell products online.

The e-commerce payment solution accepts several payment methods, including credit card, bank transfer, check or invoice, and enables users to pay or be paid by their preferred method in their own currency.

The local launch of the service is part of a worldwide launch that also includes the U.S., the U.K., Europe and Asia.

TNT’s Terry Paull said Webcollect was the first online payment solution to bring together new and old economy payment methods. “Some of the major barriers to international trade include a worldwide lack of uniformity in currencies, legislation, clearing a reporting systems, and payment instruction and culture,” he said.

Paull also said setting up an international payment structure was another major barrier to companies or individuals seeking to sell products or services to international markets.

“Typically, small to medium-sized enterprises in Australia are often faced with the prospect of taking one to two years to set up international payment structures themselves,” said Paull. “With Webcollect, we can set up a complete international payment solution within four weeks.”

Paull said TNT intends to offer WebCollect to companies selling products or services to international markets, including online retailers, exporters, publishers, direct marketers, international mail order companies, catalogs and distance education providers, and resellers, as well as to individual consumers.

“Currently buying online means paying by credit card, simple because there are few alternatives. However, this method of payment is often regarded as something of a barrier because there are large group of consumers who either do not have a credit card or prefer not to use one for Internet transactions,” said Paull.

According to TNT, WebCollect also allows e-merchants to control the flow of funds through a single interface by locally accepted methods, enhancing customer service and satisfaction. In turn, it allows e-merchants to deal with only one single interface for payments, instead of a complex network of banks and payment companies.