Info. on the Popular Digital Payments Networks
India is known to be a country that makes most of digital payments each day. Knowing how to send and receive is very essential now that it’s becoming a very big transaction technique. There are very many digital payments networks therefore that have come up because of this. If you want to choose an electronic payment network, you definitely need to make the right decision and that means that you know what to look for.
It is very important that you can begin by understanding the essential terms and features used in this industry. Understanding is essential because at the end of the day, you will use such terms and features to determine the functionality of the network and you can also compare the fees. For example, ACH payments is where you can use credit or debit transactions electronically. Most of the providers of this option and the fee will always vary. Something you also need clarity on is the difference between payment getaways and processors. You can find this website with more details on this and therefore, be sure to check it out! Always choose a provider that is compliant with the Payment Card Industry Data Security Standards as you also seek to understand more about merchant accounts.
PayPal is one of the most used network worldwide. 28 million merchants use this account worldwide according to estimates. It is extremely easy to get started, it is a secure and you use your email address to send and receive. It is also the best if you want to send money using the same network or another PayPal account which is a feature that is lacking in most of other networks. Also, the fee is very affordable.
Stripe can be a good option for a developer because it is one of the easiest solutions. You can integrated into your website. You can handle that are compliance and approvals for merchant accounts who can also bypass the sign-up process. Another thing you need to check out is the fee which can be very competitive.
If you want to connect your Google profile to your financial account, then Google be is a good option. Merchants are not charged a fee to use Google services and if you are in US, you can use Google digital wallet. It can allow you to send money directly to other US citizens using your email address or phone number.
If you have an account with the bank Chase Morgan, then you can make same day deposits using WePay. You cannot access payment if you are a software platform or a vendor. You can actually negotiate your rates with this network. Be sure to discover more about Zelle, Braintree and Venmo although not very popular.