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. 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. 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. 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. You can click for more details on these online for clarity. 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 one of the most used network worldwide. The merchants that use these accounts are almost 28 million. 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. The fees also affordable.
Stripe can be a good option for a developer because it is one of the easiest solutions. It is the easiest solution for you because you can easily integrated into your website. It can also handle data compliance and approvals. Another thing you need to check out is the fee which can be very competitive.
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. 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. It is a good option for software platforms and vendors because you can access payment. You can actually negotiate your rates with this network. Be sure to discover more about Zelle, Braintree and Venmo although not very popular.