The Most Popular Digital Payments Networks
India is known to be a country that makes most of digital payments each day. 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. If you want to choose an electronic payment network, you definitely need to make the right decision and that means that you know what to look for.
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. Understanding the difference between processors and payment getaways is also essential because very many people get confused here. You can click for more details on these online for clarity. 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. 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. You can handle that are compliance and approvals for merchant accounts who can also bypass the sign-up process. The other handle is the fact that the fee can be competitive.
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. If you are in the US, you can 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. 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.