A Guide on the Most Popular Digital Payments Networks
It is said that India makes very many digital payments every day. Sending and receiving electronic transactions is becoming very popular now it is important to know more about it. 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 critical to understand 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. 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. 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. 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 PayPal as very affordable fee for the services.
Stripe is also a very popular company that offers easy solutions especially for developers. It is the easiest solution for you because you can easily 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 can connect your financial account to your Google profile. If you are in US, you can use Google digital wallet and merchants are not charged a fee. The other good thing is that you can send money 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. The goal is to allow software platforms and vendors access to payment. You can actually negotiate your rates with this network. Others that are not very popular like Zelle, Braintree and Venmo are also one of the learning more about.