Many think that shopping in the UK, USA, Germany, France, and Italy is extremely expensive and that only very rich people can afford it. After all, it is necessary to consider the fact that you have to pay for two airline tickets, which can be quite a big sum, not to mention traveling to foreign cities, visiting all the stores and boutiques. In fact, this stereotype is far from being true. Most of our problems are because of our ignorance, superstitions, and stereotypes. This also deals with shopping abroad. Those who have never tried shopping in Europe or North America will now be surprised by this statement. Making purchases abroad is much easier and cheaper than in the shop near you.
We do believe that shopping abroad is more profitable not only in terms of price equivalents but also in terms of quality. No matter what purpose you pursue and the item you want to purchase – a huge teddy bear or an expensive Swiss watch – you should remember that shopping abroad can be successful only with a competent approach to it. So what’s important here? Obviously, payment methods are to be rationally considered.
Payment Methods in Abroad Malls
What are the most profitable payment options for a shopper in abroad malls? Is there any way to avoid extra charges and taxes? Let us get all this straightened out.
Of course, using cash is considered the easiest way to pay for goods abroad. In this case, there is no need to remember PIN codes and have all the cards/ checks at hand. The only thing required is to have money in a local currency of the country you are shopping in. Although it may seem to be profitable at first sight, in reality, there are many things to consider. Firstly, traveling with cash is not safe at all. Secondly, withdrawing a local currency from a local ATM implies extra commissions for the currency exchange and the operation itself. Nevertheless, many people still prefer this payment method.
Another good option to consider is e-wallets. Skrill, PayPal, Payoneer, Neteller, and Click2Pay are among the widespread methods. When it comes to using e-wallets, you use an ordinary plastic card (e-wallet) and check the account information at any moment. No matter of what currency your card is, the equivalent sum will be charged in case of using it for payments.
Travel Credit Card
This is by far the most popular payment method. Apart from avoiding extra charges, you can participate in and benefit from different discounts and partnership programs. The thing is that many banks are involved in varied collaborations with different retail chains, airlines, and shopping malls. Thus, by simple using a travel credit card as a payment method, you can save a bomb.
It is not surprising that more than half of buyers from all over the world use travel credit cards, although electronic wallets are also quite popular. This says a lot about the profitability of the former.