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. 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 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. Most of the providers of this option and the fee will always vary. It is also important that you learn the difference between payment getaways and processors. 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. 28 million merchants use this account worldwide according to estimates. 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.
If you are a developer, then stripe is one of the best options for you. You can 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 to use Google services and if you are in US, you can use Google digital wallet. 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. 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.