ACH Online Transactions and an IVR Solution: The Perfect Partner for your Business

Businesses offering automated payment options for customers allow the customers to experience efficiency with added security during the transaction. Even smaller businesses are adopting ACH transactions that provide quicker and more cost-effective ways to process online payments. The ACH network is widely used for payroll deposits, mortgage bills, utility bills, insurance bills, business-to-business payments and e-commerce payments.

Many benefits are associated with ACH online transactions, such as timely payments, lower processing fees compared to credit card transactions, faster access to funds and perhaps most importantly—security. Incorporating ACH into your business may attract customers who are not willing to use credit cards online, generating more revenue. ACH transactions can be processed in a variety of different ways. Processing payments by phone service is known as IVR solution which is flexible in nature when it comes to addressing specific business requirements. 

 Interactive Voice Response (IVR) empowers a business to process credit cards or an ACH (eCheck) transaction with the help of any standard touchtone phone or cell phone. The IVR payment system enables customers to pay bills without having to speak with a live representative. Through IVR, payments are submitted instantly and securely.  

A standard IVR deployment efficiently enables customers to submit payment. If desired, businesses can opt for advanced versions with data-driven features where customers can hear account specific information. Generally, English and Spanish language support is available by default, but businesses can include additional language support if necessary. Some internet-enabled payment solutions providers offer customized IVR and deployment for no additional upfront investment or setup fee.

Businesses are always concerned about how to improve service and reach more customers. Offering customers easy, simple, and secure payment methods is also another major concern for businesses. By taking advantage of today’s technology, businesses can easily achieve these goals. With the availability of powerful and affordable ACH processing and Credit Card processing solutions, businesses have the opportunity to open up their products to the internet population.

ACH processing solutions, such as IVR, can help businesses achieve a perfect balance between customer satisfaction and business growth.

Why ACH Payment Processing is the Best Option for Your Business

Dealing with payments is an essential part of business. In an era of technological revolution and with the competitive environment ever increasing, one of the major aims of businesses today—especially online business—is to offer customers a wide variety of payment options. Today businesses are learning that providing other payment options besides credit cards could be a deciding factor in whether or not customers will give them business. As a result, ACH payment processing is quickly emerging to be the most preferable payment processing option for merchants.

ACH payment processing electronically debits funds from a customer’s bank account when they make a purchase and the funds are then credited to the merchant’s bank account. There are so many benefits related to this highly sophisticated financial transaction network that in the near future, it is likely that most financial transactions will be conducted through ACH, which will lead us toward a paperless society. Besides traditional business, ACH is also utilized for conducting financial transactions between vendors, banks, financial institutions, and for processing large payment volumes such as payroll.

One of the best things about ACH technology is that it lets businesses save a considerable amount of money as the transaction fees are minimal when compared to credit card processing fees. This batch-based process of accepting payments is more secure than any other kind of electronic payment solution. The ACH Network is governed by NACHA, which not only promotes electronic payment development, but also develops and provides steps to enhance risk management.

The ACH Network is not only cost-effective, but it is also convenient. Merchants have the ability to set up automatic recurring payments with their respective ACH solution provider. Businesses can set up payments to be made to various vendors (such as utility companies) or salary payments for employees on a regular schedule in order to reduce the amount of manual labor associated with these tasks. 
 

Businesses also have the opportunity to enhance cash flow with the ACH Network because non-credit card holders can make fast, simple, and secure payments. Electronic transactions have the first claim to the available funds because banks put ACH transactions through before regular paper checks. Businesses also experience higher recovery odds because ACH allows re-presentment, which enhances the check collection chance while simultaneously saving time and manual labor.

With so many benefits, businesses are adopting this payment method more and more—not  only for their convenience, but for the sake of their customers.