A Guide on the Most Popular Digital Payments Networks
India is known to be a country that makes most of digital payments each day. Knowing how to send and receive is very essential now that it’s becoming a very big transaction technique. To address the need for electronic transactions, there are very many digital payments networks available for you now. 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 these terms and features is very important to choosing a network that is very functional and can help you compare the fees. The use of credit and debit transactions electronically, for example, is known as ACH payments. The good thing is that most of the providers will use this payment option, but the fee can 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! Also seek more info. on merchant accounts as you always work with a provider that is complying with Payment Card Industry Data Security Standards.
As you research on the most popular Digital payment company worldwide, you will always come across PayPal. 28 million merchants use this account worldwide according to estimates. To send and receive money using PayPal, you can always use your email address. It is extremely easy and secure to use. You can actually send money to another PayPal account which is a feature that many other networks don’t have. Also, the fee is very affordable.
If you are a developer, then stripe is one of the best options for you. It is the easiest solution for you because you can easily 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 on the other hand, helps you to 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 now owned by banks Chase Morgan and if you have an account with them, you can same day deposits using this service. The goal is to allow software platforms and vendors access to payment. 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.