The Most Popular Digital Payments Networks
It is said that India makes very many digital payments every day. Knowing how to send and receive is very essential now that it’s becoming a very big transaction technique. There are very many digital payments networks therefore that have come up because of this. To make the best choice therefore, there are very many factors to consider.
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. It is also important that you learn the difference between payment getaways and processors. There is more info. online and therefore, be sure to check it out! Also seek more info. on merchant accounts as you always work with a provider that is complying with Payment Card Industry Data Security Standards.
PayPal is the most used digital payment network worldwide. 28 million merchants use this account worldwide according to estimates. It is extremely easy to get started, it is a secure and you use your email address to send and receive. 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. Also, the fee is very affordable.
Stripe is also a very popular company that offers easy solutions especially for developers. Integrating payment into your website is easily resolution. 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 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.
WePay now owned by banks Chase Morgan and if you have an account with them, you can same day deposits using this service. It is a good option for software platforms and vendors because you can access 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.