July, 16th 2017 | 4 min read


Selling online requires a suite of financial products for the merchant to simplify and and minimise costs at all stages of the process. In a sense, there were three generations of financial service providers ready to step in to the market: firstly, the traditional banks, secondly, the 1990s and early 2000s wave of internet companies such as PayPal, and thirdly, the recent wave of innovative fintech (financial tech) companies who are successfully making financial products much more readily available and bringing down barriers for both merchants and consumers.

This is where MoneyNetInt fits in: as a third wave provider of financial services aimed at enabling e-commerce sellers all over the world. This means products for all stages of the business cycle – customer payments, international transfers, and so on. Here’s an overview of MoneyNet’s full range of services.

US/EU Bank Accounts For Non-US/EU Residents

Merchants outside the US/EU are enabled to open a US/EU bank account through MoneyNet’s services. This is a genuine US/EU account, under your name, not a “virtual” or aggregated account. Opened free of charge, there is no minimum deposit necessary, and no need to travel to the US or Europe or send legal representatives. Within a short time, your business can benefit from the advantages of an American bank account, saving in fees and conversions from US/EU transactions. Funds from the account be sent wherever you wish, at our industry-leading exchange rates with no hidden fees. The entire approval process for setting up the account can be accomplished online.

E-wallet Services

Benefits of using our e-wallet services include a streamlined transaction service, and secure online money transfer. The user will experience a low-friction process for online purchases, with customised and easy to manage bank account integration. The e-wallet service includes money transfer at our highly competitive rates, currency delivery, and full reporting. In addition, we take fraud protection seriously and are fully compliant with best practices. As well as transparent exchange rates, our commissions are among the lowest available in the industry.

Here’s a practical example of what we are talking about so far. You have customers in the good ole’ US of A that transfer money to a local US bank account that MoneyNet set up under your name. With the money in your MoneyNet e-wallet, you pay a much lower fee for receiving the funds as opposed to the international transfer. On top of that, you can convert those funds to your currency at rather attractive rates and make a withdrawal without paying your bank fees for receiving funds in foreign currency. This opens up a whole new set of opportunities to pay your customers and services in their local currencies. Compared to bank wire transfers and popular payment services like PayPal, MoneyNet’s e-wallet services are much cheaper and more convenient.

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The SEPA (Single Euro Payments Area) is a bank transfers process denominated in Euros. Our service is designed as a simple process. Just send your buyers to your merchant SEPA Direct Debit page on the MoneyNetInt server, where the customer will enter his bank account details and electronically sign permission for MNI to debit his account. This process is fully secure and encrypted. MoneyNet will debit the customer through our payments system and credit your account. The advantage is that the customer will not need to enter their account details over and over again – only during the initial purchase. After that, the details are securely saved and the process is expedited for the next transaction.

ACH (Automated Clearing House)

ACH services apply to the USA and certain other countries, and is restricted to US citizens only. It enables you to authorise direct debits from the customer’s checking or savings accounts, either as one-off or recurring payments. Contact us to find out more about ACH solutions for your business.

Money Wire

MoneyNet’s money wire solutions are aimed at saving you on one of the major expenses for many e-commerce sellers – international commissions and exchange rates, which is where banking institutions often draw high fees and rates. We offer a simple process which enables you to both send and receive funds through your account. In short, you, the merchant, just need to direct customers to your particular page on the MoneyNet server, where MoneyNet will create a specific reference number and indicate the MoneyNet bank deposit details for the customer’s home country. The customer then may wire the funds along with the reference number through their normal process. Your account will be credited once the funds have reached the MoneyNet bank account. The incoming transfers are denominated in the local currency and then the funds are converted to Euro with zero forex spread.

Credit Card Payments and Processing Solutions

The emphasis of our product development is on effortless transactions for your organisation. We have access to a range of merchant credit card processing solutions, and no matter what the needs of your business is, we can implement the most effective solution. You will not have to worry about fraudulent transactions, and chargebacks will not be an issue in terms of cost and inconvenience. In addition, we can implement local credit card processing, for transactions without the hassle and expense of international commissions.

Debit Cards

MoneyNet’s own debit cards are available for issue and allow electronic access to your MoneyNet account. These can be issued to employees, or used as a gift card. Options include stored value on the card, or live access to your account for withdrawal of funds.

Merchant Payments

Our online payment systems enables your customers to make instant online payments with the latest security and easy checkout process to maximise conversions. Payment gateway options allow a variety of payments, not only credit cards but also local wire payments and SEPA direct debit.

Best Currency Exchange Rates

Banks generally offer poor solutions for international currency transfer, with high fees and charges as well as hidden fees in the form of FX rates with a large spread. With MoneyNet, there are no hidden fees and rates are based on mid-market rates. Compared to banks or services such as PayPal, which may charge up to and over 3%, your business will benefit from considerable savings.

Final thoughts

Whatever the size or stage of your e-commerce business, MoneyNetInt’s solutions can be tailored for your needs, from the sales platform to your international transfer requirements. Talk to us today about your requirements.

Lastly, we'd like to invite you to schedule a FREE 15 min consult with MoneyNet's expert consultants to evaluate your current business and learn how to cut down costs. Interested? Just click below.

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