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.
Understanding the essential terms and features is very important. 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. It is also important that you learn 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 the most used digital payment network worldwide. The merchants that use these accounts are almost 28 million. 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. The fees also affordable.
Stripe is also a very popular company that offers easy solutions especially for developers. 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!
Google pay can connect your financial account to your Google profile. 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. The good thing for software platforms and vendors is that you can actually negotiate your rates on this platform. Be sure to discover more about Zelle, Braintree and Venmo although not very popular.
Citation: the original source