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. Knowing what to look for when choosing a digital payments network is very essential and there are important factors to look at.
It is critical to understand 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. ACH is one of the payments you need to understand where it involves the use of 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. It is almost 28 million merchants across the world. 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. 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.
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. 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. You cannot access payment if you are a software platform or a vendor. You can actually negotiate your rates with this network. Be sure to discover more about Zelle, Braintree and Venmo although not very popular.