Info. on the Popular Digital Payments Networks
Everyday, India makes very many digital transactions. 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. To make the best choice therefore, there are very many factors to consider.
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. 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. Something you also need clarity on is the difference between payment getaways and processors. You can find this website with more details on this 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 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. 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.
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. Another thing you need to check out is the fee which can be very competitive.
If you want to connect your Google profile to your financial account, then Google be is a good option. If you are in US, you can use Google digital wallet and merchants are not charged a fee. The other good thing is that you can send money 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. You cannot access payment if you are a software platform or a vendor. 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.