A Guide on the Most Popular Digital Payments Networks
Everyday, India makes very many digital transactions. Another never, very many people are sending and receiving electronic transactions and it is important to have the knowledge a lot to do it. There are very many digital payments networks therefore that have come up because of this. To make the best choice therefore, there are very many factors to consider.
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. ACH is one of the payments you need to understand where it involves the use of credit or debit transactions electronically. Most of the providers of this option and the fee will always vary. It is also important that you learn the difference between payment getaways and processors. You can click for more details on these online for clarity. 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. The merchants that use these accounts are almost 28 million. It is extremely easy to get started, it is a secure and you use your email address to send and receive. 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 is also a very popular company that offers easy solutions especially for developers. 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. 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. The other good thing is that you can send money 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. You cannot access payment if you are a software platform or a vendor. 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.