A Guide on the Most Popular Digital Payments Networks
Everyday, India makes very many digital transactions. 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. To make the best choice therefore, there are very many factors to consider.
Understanding the essential terms and features is very important. It will help you a lot you choose a platform that has the most functionality and help you compare the fees. The use of credit and debit transactions electronically, for example, is known as ACH payments. 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. There is more info. online 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. It is almost 28 million merchants across the world. One of the things you learn is that PayPal is extremely easy and secure to use and you can always use your email address to send and receive money. You can actually send money to another PayPal account which is a feature that many other networks don’t have. The fees also affordable.
Stripe can be a good option for a developer because it is one of the easiest solutions. It is the easiest solution for you because you can easily 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 can connect your financial account to your Google profile. Merchants are not charged a fee to use Google services and if you are in US, you can use Google digital wallet. If you are in the US, you can send money directly to other US, citizens, using your email address or phone number.
WePay now owned by banks Chase Morgan and if you have an account with them, you can same day deposits 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. Others that are not very popular like Zelle, Braintree and Venmo are also one of the learning more about.