You may have heard the term Automated Clearing House or ACH at one point or another while doing business. Processing payments is an essential component of obtaining daily profits both in store and online. ACH processing is one method available to your business. Incorporating one or many electronic payment forms into your consumer options can be a great way to keep up with competitors and offer each customer a little more convenience. Your company can reach additional consumers thus increasing overall profits. With the increasing use of credit and debit cards, why would you choose to provide options such as electronic checks to customers? There are many benefits which may not be easily seen when first considering ACH transaction handling. Consider the time and money required for each customer to mail a check for payment. Then think about how much is taken away from your business as you have to process each received check. Reduced workload is one of many advantages provided by this merchant service.
Direct Benefits Received From E-Check Transactions
An e-check can be processed via phone or online. Customers can set up recurring payments. You may even use electronic checks to pay each employee. A wider range of options produces increased consumer satisfaction. Required hardware is minimal and often entails only a computer combined with a communication method. Electronic payments also make it easier to keep these records organized and stored appropriately. Setup costs include a one time fee followed by individual transaction fees and return charges. Here are some of the benefits you receive by electing to offer ACH processing methods to consumers:
- Cost Efficient Payment Handling
- Processing Time Reduction
- Secure Transactions
- Faster Availability of Funds
- Elimination of Late Fees
- No Postage Costs
- Easier Payment Management
- Integrated Transaction Processing
Cash is becoming less and less common in our technology driven society. Customers want convenient ways to pay for both goods and services. In fact, customers are likely to spend less when a cash payment is their only option. Paper checks are riskier because they can be lost during handling or stolen. Credit cards may be convenient but include higher fees. E-check acceptance allows your company to enter ecommerce without creating more expense or eating up valuable business time. This form of processing has been ever increasing since its origination. Fifteen billion or more transactions are processed each year by ACH. It is highly trusted by consumers and simple for businesses.
A third party is required to establish transaction routing agreements between financial institutions. As a merchant account services provider, AVPS can eliminate most of the worry associated with communication between banks and clearing houses. ACH processing can be simple, rewarding, and safe when you utilize our dependable services for these payments. We can clear each payment in a matter of a few business days thus eliminating fighting long bank lines or having to run to the bank each morning. Electronic transfers provide a cost effective solution to your business by reducing associated fees and providing a simple way for reimbursement of provided products or services.