ACH Transactions: The Future of Business Transactions

Automated Clearing House (or “ACH” as we commonly call it) has been growing exponentially over the past few decades. The cost-effectiveness of this technology is considered one of the major factors of its popularity. Businesses—especially online businesses—have been experiencing the benefits of ACH. The future of ACH transactions is strong. 

Our society is gradually moving towards paperless transactions and there is no doubt that ACH is going to play a pivotal role. As the popularity of ACH increases, the use of paper checks is expected to continue to decline. By using ACH, merchants not only receive their funds more quickly, but also greatly save on processing fees when compared to credit card transactions. 

Businesses are always looking for ways to reduce the overall cost related to business processes. ACH helps drastically minimize the demands and manual nature of the Account Receivables Department by giving customers the option to pay invoices online quickly and securely. 

In today’s competitive market, it is wise for businesses to provide their consumers with convenient and varied payment options. Online businesses are recognizing that limiting their store to credit card only transactions means losing potential customers.

The future of ACH is exciting because it is an inexpensive way to process payments and is expected to grow in the future. Businesses should seek a reputed internet-enabled payment solutions provider for a powerful and affordable ACH processing solution. Choosing the right service provider means never compromising on security as businesses conduct online ACH credit or debit transactions. Improve the efficiency of your business and take it to the next level with latest technology.

ACH Transaction: Why More Businesses Are Relying On It

We are living in an era where everything is gradually becoming digital.  Why should business be left behind?  As more and more businesses are expanding online, the payment scenario is undergoing radical changes.  The days of paper checks and cash transactions will soon be obsolete. With technological advancements, businesses are beginning to accept virtual payments and have started to search for suitable internet-enabled payment solutions. 

A business can enjoy a host of benefits when suitable tools are employed to process online payments.  With ACH transactions, merchants receive their money faster, save on processing fees compared to credit cards, and keep financial information of the customers secure.

With its many benefits, the use of online ACH credit is increasing.  ACH can be used to conduct transactions in a safe, efficient, and economical manner.  In addition to offering customers a variety of payment options, ACH credits can be applied to dividend payments, business-to-business payments and many other possibilities.  With funds securely and automatically deposited, ACH credits eliminate the disadvantages of checks such as errors due to manual processing, delivery time, and fraudulent activity. 

ACH has the power to initiate business growth by offering their target customers improved and varied payment options.  Limiting an online store to only credit card transactions would be detrimental to its customer outreach.  By using ACH transactions, a business would open up its products and services to a much broader audience.  With ACH, merchants would have the opportunity to reduce the demand and manual work of account receivables by managing and paying accounts online as well as rapidly sending secure invoices. 

Today, many industries are constantly benefitting from ACH.  Locate a suitable internet-enabled payment solution provider today to take your business to the next level.  Enhanced business satisfaction can now be easily achieved.

Enhancing Business Satisfaction with Online ACH Debit

In this digital era, the retail sector has been experiencing a revolution where customers can order their choice of products and services while sitting anywhere in the world. Online businesses are also acknowledging the fact that providing varied but secure payment options can play an important role, not only in business expansion—reaching out to more potential customers scattered world-wide—but also reducing the operational costs of the business. 

New resources available are allowing customers to abandon cash and paper checks and pay with electronic checks and debit/credit cards. Therefore, businesses are looking for the right tools to help them process electronic payments online. They are finding that ACH is the best available option. 

ACH is the quicker, more efficient and most cost-effective way to process payments and is highly beneficial for online business. Let’s take a look at a few benefits of ACH transactions. It’s convenient, as all businesses possess a bank account, making it easy to either receive or make payments. It’s very easy to set-up and once installed, customers can choose their preferred method of payment. It’s fast, whether transactions are online ACH debit or credit. They are conducted rapidly and securely, making it an economical process for both the customer and business.

As businesses start looking for more convenient ways to let customers pay, here is another solution worth considering: an online IVR solution, which allows businesses to process credit card or ACH (eCheck) transactions with any standard touchtone phone or cell phone. This solution will allow your customers to pay bills without having to speak to a live representative. Customers can submit payment easily, securely and instantly without any internet connection. 

This solution is attracting the attention of many businesses thanks to its flexibility in meeting specific business requirements. Advanced IVR versions are also available with data-driven features that allow callers to hear specific account information if required. Support for English is available by default, but additional languages can be added if necessary. Customize and deploy your IVR with an efficient and experienced internet-enabled payment solutions provider. 

It’s time to equip your business to reach more customers worldwide with the help of powerful and affordable ACH processing and credit card processing solutions.

Accept ACH and Credit Card Payments with Your Own Merchant Account

Since the boom of e-commerce business has opened a new way for merchants to offer their products and services to customers scattered worldwide, it is important for merchants to provide their customers with varied payment options. No business wants to lose opportunities to expand, and with the right payment options for customers, a business can not only enhance cash flow, but also build a long list of returning customers.

Credit cards are one of the commonly used payment methods preferred by customers worldwide. Traditional stores and e-commerce businesses must offer credit card acceptance or be prepared to lose a large share of its prospective customers. Credit card acceptance plays a vital role when it comes to conducting e-commerce business.

So, if you are a merchant who with an online presence, make sure you are providing your customers with a secure credit card processing solution. This is where you need a merchant account. With such an account, you can accept and process ACH and credit card payments. The benefits associated with setting up a merchant account don’t end here.

With a merchant account, you can expect secure and affordable payment processing that is also real-time. You can also receive robust online reports and secure your business with online fraud protection. When you enable your customers to pay from anywhere, your business will experience a sales boost.

How do you set up a merchant account? It’s easy! Get in touch with a payment processing solution provider, talk to them about your business needs, and let them know you are interested in setting up an account. As there are different types of providers available, be sure to compare the pricing if you are planning to start an e-commerce business.

What are Online ACH Debits and Online ACH Credits?

If you are conducting business online, there are multiple ways for customers to pay you, such as via debit card or credit card or through an ACH electronic funds transfer. Each method has different processing fees. ACH is the preferred method of payment for both customers and merchants because of its many advantages.

Technology has benefitted business by reducing the overall cost related to business processes, especially through the use of ACH payments (Automated Clearing House). With online ACH debit transactions, the merchant obtains authorization from their customer to electronically debit a payment directly from the customer’s checking or savings account. Some common examples of ACH debit transactions include insurance, mortgage, and utility payments. Many donors who regularly contribute to non-profit organizations also often use ACH. Additionally, some states provide an ACH debit option for businesses to pay taxes.

On the other hand, online ACH credit transactions occur when funds are disbursed electronically from the merchant’s account to the customer’s account. The most common example of an ACH credit is direct deposit payroll.

The main benefits of ACH credits and debits are convenience, minimal processing fees, and faster payments. When a business offers its customers the option to pay through ACH, it enables customers who don’t have a credit card to purchase products and services online. Likewise, credit cardholders who are reluctant to use their cards online can still make purchases.

When the right tools are utilized to process online check payments electronically, it is a win-win situation for both the customer and business. Customers make payments quickly without worrying about security. Businesses save greatly on processing fees when compared to standard credit card transactions. Processing electronic checks online through the ACH network allows you to receive money faster and keep more of it.

Find your powerful and affordable ACH processing solution today.