ACH payments are responsible for $43 trillion and 25 billion electronic financial transactions every year. Suitable for businesses of all industries and sizes, this effective payment method is becoming increasingly popular because it benefits both businesses and customers. If you’re not familiar with ACH processing and its benefits, we can explain everything:
What Is ACH Processing?
ACH stands for Automated Clearing House, which is an electronic funds-transfer system run by the National Automated Clearing House Association (NACHA). How is it different from a regular etransfer, you ask? The ACH Network processes transactions in batches, making them quicker, safer, and easier than other payment methods. If you’re interested in the technical details of how it works, here’s an explanation of the whole ACH transaction process.
Benefits for Businesses and Customers
Accepting ACH payments can help businesses save time, cut costs, and grow. It’s easy to keep track of ACH electronic transactions, and they cost less than credit card payments. Also, consumers can use automatic ACH payments if they don’t want to send their credit card information regularly. Another significant benefit of ACH is the reliability of the system, which is designed to protect businesses and customers from fraud and identity theft.
Not convinced yet? We invite you to use this online calculator to get an estimate of your savings when using direct payment via ACH. On average, businesses can save $1.50 per payment!
How do I accept ACH Payments?
You need a merchant account provider like American Verification Processing Solutions. Our team will be more than happy to assist you and help your business thrive. Feel free to contact us through our website or by calling us at 800-719-9198 if you want to learn more about the benefits of ACH payments.