A Guide on 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. There are very many future payments networks available for you now because of the need of electronic transactions. 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. Understanding these terms and features is very important to choosing a network that is very functional and can help you compare the fees. For example, ACH payments is where you can use 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. 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 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. 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.
If you are a developer, then stripe is one of the best options for you. Integrating payment into your website is easily resolution. 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. 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. Others that are not very popular like Zelle, Braintree and Venmo are also one of the learning more about.