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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. There are very many digital payments networks therefore that have come up because of this. 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 is essential because at the end of the day, you will use such terms and features to determine the functionality of the network and you can also compare the fees. The use of credit and debit transactions electronically, for example, is known as ACH payments. 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 find this website with more details on this and therefore, be sure to check it out! It is also important to understand what a merchant account is as you also understand why you need a provider that is compliant with the Payment Card Industry Data Security Standards.

PayPal is one of the most used network worldwide. The merchants that use these accounts are almost 28 million. To send and receive money using PayPal, you can always use your email address. It is extremely easy and secure to use. It is also the best if you want to send money using the same network or another PayPal account which is a feature that is lacking in most of other networks. The PayPal as very affordable fee for the services.

Stripe can be a good option for a developer because it is one of the easiest solutions. 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. Fees are very competitive and you can check it out!

If you want to connect your Google profile to your financial account, then Google be is a good option. 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.

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. Be sure to discover more about Zelle, Braintree and Venmo although not very popular.