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. To address the need for electronic transactions, there are very many digital payments networks available for you now. Knowing what to look for when choosing a digital payments network is very essential and there are important factors to look at.
It is very important that you can begin by understanding the essential terms and features used in this industry. It will help you a lot you choose a platform that has the most functionality and help you compare the fees. ACH is one of the payments you need to understand where it involves the use of credit or debit transactions electronically. The they will always vary but the good thing is that most providers has this payment option. Understanding the difference between processors and payment getaways is also essential because very many people get confused here. You can find this website with more details on this and therefore, be sure to check it out! It is also important to understand what a merchant account is as you also understand why you need a provider that is compliant with the Payment Card Industry Data Security Standards.
PayPal is the most used digital payment network worldwide. It is almost 28 million merchants across the world. To send and receive money using PayPal, you can always use your email address. It is extremely easy and secure to use. One of the features that other accounts don’t have is the option to send money through this service itself another PayPal account. The PayPal as very affordable fee for the services.
Stripe can be a good option for a developer because it is one of the easiest solutions. You can integrated into your website. 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. Another thing you need to check out is the fee which can be very competitive.
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. The goal is to allow software platforms and vendors access to payment. The good thing for software platforms and vendors is that you can actually negotiate your rates on this platform. learn more about Zelle, Braintree and Venmo because they are also digital payments networks.