Info. on the Popular Digital Payments Networks
Everyday, India makes very many digital transactions. Sending and receiving electronic transactions is becoming very popular now it is important to know more about it. 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 these terms and features is very important to choosing a network that is very functional and can help you compare the fees. For example, ACH payments is where you can use credit or debit transactions electronically. The they will always vary but the good thing is that most providers has this payment option. It is also important that you learn 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 the most used digital payment 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. The PayPal as very affordable fee for the services.
Stripe is also a very popular company that offers easy solutions especially for developers. Integrating payment into your website is easily resolution. The only thing not to be overlooked is the fact that merchant accounts can bypass the sign-up process and can handle the compliance and approvals for the same accounts. Fees are very competitive and you can check it out!
Google pay on the other hand, helps you to connect your financial account to your Google profile. Merchants are not charged a fee and you can use Google digital wallet if you are in the US. It can allow you to send money directly to other US citizens using your email address or phone number.
WePay can be a good option for anyone that has Chase Morgan account because you can make transactions on the same day using this service. It is a good option for software platforms and vendors because you can access payment. The good thing for software platforms and vendors is that you can actually negotiate your rates on this platform. Others that are not very popular like Zelle, Braintree and Venmo are also one of the learning more about.