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. To make the best choice therefore, there are very many factors to consider.
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. For example, ACH payments is where you can use credit or debit transactions electronically. Most of the providers of this option and the fee will always vary. Something you also need clarity on is the difference between payment getaways and processors. You can click for more details on these online for clarity. It is also important to understand what a merchant account is as you also understand why you need a provider that is compliant with the Payment Card Industry Data Security Standards.
PayPal is the most used digital payment network worldwide. It is almost 28 million merchants across the world. It is extremely easy to get started, it is a secure and you use your email address to send and receive. You can actually send money to another PayPal account which is a feature that many other networks don’t have. The PayPal as very affordable fee for the services.
Stripe can be a good option for a developer because it is one of the easiest solutions. Integrating payment into your website is easily resolution. 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. 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. If you are in US, you can use Google digital wallet and merchants are not charged a fee. 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. With this network you are able to actually negotiate your rates. Others that are not very popular like Zelle, Braintree and Venmo are also one of the learning more about.