The Most Popular Digital Payments Networks
India is known to be a country that makes most of digital payments each 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. 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. 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! 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. 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. One of the features that other accounts don’t have is the option to send money through this service itself another PayPal account. Also, the fee is very affordable.
If you are a developer, then stripe is one of the best options for you. 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. The other handle is the fact that the fee can be competitive.
Google pay on the other hand, helps you to 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.
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. With this network you are able to actually negotiate your rates. learn more about Zelle, Braintree and Venmo because they are also digital payments networks.