A wire transfer is a method of transferring funds electronically from one person or organization to another. It involves moving money between two different banks or financial institutions through a secure network, such as the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network.
In e-commerce or marketing, wire transfers are often used for making large transactions, such as purchasing goods or services from international suppliers or sending payments to overseas partners. These transfers are typically fast, secure, and can be used for both domestic and international transactions. However, they may come with fees and additional processing time compared to other payment methods like credit cards or online payment platforms.
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