Outsourcing Payments Navigating the Challenges and Finding Solutions | Podcast Episode 17

Outsource to Profits Podcast

Episode 17 | Outsource to Profits Podcast

About The Guest(s):

Nazmul is a business owner based in Bangladesh. He has experience in outsourcing and has worked with various payment processing tools.

Summary:

In this episode of Outsource to Profits, Jamie and Nazmul discuss different methods of payment processing for outsourcing. They share their experiences with various tools and platforms, highlighting the pros and cons of each. They emphasize the importance of choosing the right payment processing method based on the specific needs of your business and the location of your talent.

Key Takeaways:

• Upwork is a popular platform for outsourcing, but it may not be scalable for long-term, full-time employees.
• Veeam is a payment processing tool that takes a fixed fee and processes payments in 3-5 days.
• Payoneer is another tool that takes a percentage of the transaction and processes payments in 24 hours.
• It is important for the recipient to have a strong banking relationship and credit for smooth payment processing.
• Using platforms like Payoneer or Deal is easy and intuitive for project-based work, but for long-term and larger transactions, direct bank transactions are recommended.
• The first transaction may require additional documents to establish a track record, but subsequent transactions will be smoother.

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