There are currently lots of e-payment systems on the market, some of which are ideal for individuals and others that have been built for large corporations. Before you decide which one to use you may be wondering what is an e payment? Click here to learn.
In simple terms, an e-payment is a transaction done online. E-payment systems then set in to make these transactions happen safely and effectively. Recent studies show that millennials now prefer to shop online and use e-payments rather than shop in physical stores. This trend is only continuing, as people take advantage of the ease of shopping online.
If you have a business then a great option to consider for managing your e-payments is Intuit. This system actually has a whole package of tools that you can use to manage your payment methods and finances. You can also integrate the system with QuickBooks, one of the most popular accounting applications available meaning that everything is done in one place.
– Intuit can be easily integrated with accounting software like QuickBooks
– The system comes with TurboTax included
– You are able to send invoices similar to with PayPal
– once set up you can easily add Pay Now call to actions to your website
– ACH transfers are accepted
– Additional integrations to manage your business such as timesheets and employee payments.
– If you’re not using QuickBooks fees can be on the higher side
– This is definitely a business tool rather than a personal one
If Intuit isn’t for you then Dwolla might be a good alternative. The system is similar to PayPal in a lot of ways, and has good options for both businesses and individuals. If you do a lot of bank transfers then this is an especially good option.
– Ability to brand up your payment gateway easily
– Specialized in bank transfers, which are very simple with the system
– There is a single fee for bank transfers at only $0.25
– If you need to automate payments then there is a system for this
– Both the person or company sending/receiving payment must be using the system
– Only available in the US
Braintree is a system made primarily for people with businesses and have some great integrations to make your life easier. You can easily set up recurring billing for example and there are other personal finance options available for your accounting. There are some individual finance option available though, such as being able to add in credit cards and their pricing is competitive.
– Good price point
– More features than competitors like PayPal
– Online payments are simple
– Sore credit and debit cards.
– Integration may take some development work
– Review the fees that Braintree charge as they may make this a more expensive option than others.
– You need to set up a merchant account if you want everything to work correctly.
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