In the digital world you can work with business owners from around the world. While this opens up a huge market to everyone it also make it more difficult to establish trust between the parties being governed by a range of different home laws and the real-world feasibility of enforcing those laws in the event that there was a wrong doing.Â
To protect the individual parties there are often different payment procedures that businesses will use.
Here are some of the common ones:
Letter of Credit (LC)
A letter issued by a bank to another bank (typically in a different country) to serve as a guarantee for payments made to a specified person under specified conditions.
Escrow
A bond, deed, or other document kept in the custody of a third party and taking effect only when a specified condition has been fulfilled.
Milestone payments
Simply a certain % of the fee of a project that the client pays over the course of the project rather than paying 100% at the end.
Retainer
A retainer fee is an amount of money paid upfront to secure the services of a consultant, freelancer, lawyer, or other professional.
Wire Transfer (TT)
Wire transfer, bank transfer or credit transfer, is a method of electronic funds transfer from one person or entity to another. A wire transfer can be made from one bank account to another bank account or through a transfer of cash at a cash office.
Proof of Funds (POF)
A proof of funds is a document or bank statement proving that a person has the financial ability to perform a transaction.
Payment Provider
A payment service provider offers shops online services for accepting electronic payments by a variety of payment methods including credit card, bank-based payments such as direct debit, bank transfer, and real-time bank transfer based on online banking.In the digital world you can work with business owners from around the world. While this opens up a huge market to everyone it also make it more difficultÂ
Crypto-Currency
A digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
We want to ensure that while your business works globally online that you can pay and get paid.
e-Commerce integration.
Save your time having to set up all the systems and integration needed to accept payment for your online shop. Our marketplace shop’s come pre-integrated, meaning all you have to do is follow the shop set up wizard and add your products and we make sure you get paid! You can set up your physical products, digital products, rental products or services, and request for quote depending on what best suits your business.
e-Commerce integration.
Save your time having to set up all the systems and integration needed to accept payment for your online shop. Our marketplace shop’s come pre-integrated, meaning all you have to do is follow the shop set up wizard and add your products and we make sure you get paid! You can set up your physical products, digital products, rental products or services, and request for quote depending on what best suits your business.
Payments Negotiations.
Once a project is assigned to a freelancer, both participants, employer and freelancer, get access to a unique Workspace were they can both manage the project.
After an employer chooses a project candidate, it’s important that both parties agree their terms for the project before the official assignment. At this time, employers and freelancers can negotiate with each other until they are both happy or unhappy with each other terms.
Payments Negotiations.
Once a project is assigned to a freelancer, both participants, employer and freelancer, get access to a unique Workspace were they can both manage the project.
After an employer chooses a project candidate, it’s important that both parties agree their terms for the project before the official assignment. At this time, employers and freelancers can negotiate with each other until they are both happy or unhappy with each other terms.
Escrow & Mile Stone Payments.
For each agreed project you can hold the money until work ends. On completed projects, the money held in escrow minus any site commissions will be automatically transferred to the freelancer. On non completed projects, employers are automatically refunded.Â
Escrow & Mile Stone Payments.
For each agreed project you can hold the money until work ends. On completed projects, the money held in escrow minus any site commissions will be automatically transferred to the freelancer. On non completed projects, employers are automatically refunded.Â
Invoicing & Time Tracking.
Never lose time again!
Using the time tracker in your project manager work space, time tracking of your tasks become a breeze and nothing gets in your way. It is intuitive, easy to use and it integrates with your tasks.Â
Billing made easier with time tracker.
Track your time while working, not afterwards. As result, you will no longer forget to bill your clients for any work or mess up calculating times. You will be able to save a lot of time by not counting the time manually and gain transparency of your teams time use.Â
Invoicing & Time Tracking.
Never lose time again!
Using the time tracker in your project manager work space, time tracking of your tasks become a breeze and nothing gets in your way. It is intuitive, easy to use and it integrates with your tasks.Â
Billing made easier with time tracker.
Track your time while working, not afterwards. As result, you will no longer forget to bill your clients for any work or mess up calculating times. You will be able to save a lot of time by not counting the time manually and gain transparency of your teams time use.Â
We utilize your gendigital.me profile to manage all of your projects and requests.
Once your order or request comes into the network we ensure you are matched with the appropriate specialist and your working projects group is created.
Inside each projects workspace you with have direct team communication, access to all addition documents, time tracking, invoicing, and over-all projects timeline.
If you haven’t yet registered for your gendigital.me profile we invite you to join the network here!
