India is known to be a country that makes most of digital payments each day. Another never, very many people are sending and receiving electronic transactions and it is important to have the knowledge a lot to do it. 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 critical to understand 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. 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 one of the most used 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 PayPal as very affordable fee for the services.
Stripe is also a very popular company that offers easy solutions especially for developers. 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. The other handle is the fact that the fee can be 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. It can allow you to 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. It is a good option for software platforms and vendors because you can access payment. 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.