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What is the main difference between Money Remittance and payment

The word remittance because it is used today, could be a word that was conjured up by the World Bank. It implies cross-border money transferred by working diaspora, sending money to their home country. 

Remittance is a transfer of money. Money can send to an individual in their home country or outside the home country. And also there's a various method to transfer the fund like by cheque or online mode with the assistance of money remittance software Solutions

Remittance could be a sub-set category under the payments umbrella. 

The word remittance because it is used today, could be a word that was conjured up by the World Bank. It implies cross-border money transferred by working diaspora, sending money to their home country. 

Payments on the opposite hand are any movement valuable from a Payer to a Payee, which accurately is all-encompassing. 

In finance terms, there's no difference in and of itself between Payment and Remittance, only the naming terminology, a synonym, and it refers to 'Transfer of Money.

Word, 'Remittance' is commonly accustomed to refer when money is distributed by ex-pats in their home country or at a far off. 

Omega Softwares is the best within the remittances solutions they give a brilliant facility for users they do not charge any hidden amount. The time and duration of transferring the fund within 24hrs. They are the best  Money remittance software solutions provider in India. They have 18 years of experience in making the software and with the help of best team supportPsychology Articles, they are ready to help and stand by you for maintenance and services.

For more details contact: 9820204941

Visit: www.omega-sys.com

Source: Free Articles from ArticlesFactory.com

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