A Case Study of World First Online Payments System
A Portsmouth-based shipping company used to make payments through their bank. As well as the poor exchange rates they were receiving, an employee had to go down to the bank, fill in a currency transaction form and queue to submit it. Once submitted it took at least 3 days for the payment to be processed.
After opening an account with World First they also decided to use World First's Online Payments System. This brings them the following benefits:
1. They can now make payments from their office and do not have to go to their bank in person.
2. They do not have to fill in any forms. Once a Payee's details have been submitted once, they are saved for future transactions.
3. Once the payment has been authorised and submitted it is processed by World First immediately. This makes it possible for them to make same-day payments for urgent payments.
4. They have also signed-up for Direct Debit avoiding the need to make any payments to World First.
5. The system's capability for different authorisation levels makes it possible for multiple people in their accounts department to add payee details and transaction information, whilst the Financial Director can authorise all payments.
