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pay before

Pay Before is one of several payment models used in both traditional payments and e-commerce; the others are Pay Now and Pay Later.

Pay Before means payment in advance. The amount for the service or purchased product must therefore be transferred before delivery or the service provided. Pay Before only says something about when the payment or transfer must be made, not about the method of payment: whether cash, check, wire transfer, cash card, credit card, or other method. The Pay Before payment method is often offered with cost benefits. Examples of Pay Before are prepaid and credit cards and debiting the amount before delivery.

With Pay Now, payment is made immediately with the purchase of a product. Classic examples are thestore where you buy goods with the payment process or cash on delivery through shipping. On the Internet, it is the transfer by means of online banking or the debit from a bank card, which takes place at the same time as the purchase.

In the case of Pay Later, the payment is made after delivery. The customer has already received the product and can make the transfer after receiving the invoice.

Informations:
Englisch: pay before
Updated at: 10.01.2019
#Words: 193
Links: service, method, wire, prepaid, process
Translations: DE
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