Streamline Your Transactions and Boost Your Business with ACH Payment Processing When you first started your business, you probably focused on getting customers into the store. But now that they’re there, it’s important to make sure they have a great experience while shopping with you. That means making sure the payments process goes smoothly and easily for them. Especially, if...
The adult entertainment industry has seen dramatic growth, especially during the pandemic, as most citizens worldwide were required to stay home, self-quarantine, and practice social distancing. This trend is anticipated to continue its growth in the coming years, giving the adult entertainment industry a favorable opportunity for further development. However, adult industry merchants are notoriously marginalized when it comes to...
ACH payments and checks are some of the most widely used payment methods. The use of checks is one of the most convenient ways to collect large sums of funds from clients and customers. ACH payments are another convenient way to accept funds for large purchases as well. So what is the difference between ACH and check payments? Read on...
As a bank customer, it is difficult to fully understand how the everyday transactions we have come to depend on can move so rapidly and affordably. Most of us don’t even seem to think twice about what really goes on behind the scenes within the financial system. What does happen behind the scenes is that billions of dollars move stealthily...
ACH stands for Automated Clearing House and is a simple method by which funds can electronically be transferred from one account to another in the US. Its functions are overseen by both the federal government and the National Automated Clearing House Association (NACHA) to ensure that rules are up-to-date and sensitive payment information stays secure. ACH payment processing can give...
The Federal Reserve announced at the beginning of August that they are planning to build a real-time payment platform. This would address concerns from smaller financial institutions that are hesitant to buy services from The Clearing House (TCH), which is run by the nation’s largest banks and is currently the only network that provides services for all channels. By providing...
The Federal Reserve announced that the Federal Reserve banks will create a new “round-the-clock real-time payment and settlement service” called the FedNow service to provide faster payments within the U.S. It is expected to launch by 2023 or 2024. It will begin by offering support for transfers of up to $25,000. The Federal Reserve holds the belief that faster payment...
ACH credit fraud has steadily climbed since 2016, according to the most recent annual fraud report from the Association for Financial Professionals (AFP). In both 2015 and 2016, the number of cases of ACH credit fraud was at 11%. In 2017, the number rose to 13%. Last year, the number climbed to a whopping 20%, according to the survey, which...
Same-day ACH transactions climbed to $51 trillion last year, proving that everyone is embracing instant payments. NACHA, the electronic payments association, recently announced that 2018 was a milestone year for the ACH Network. Payment volume rose by almost 1.5 billion, making it the fourth consecutive year to add one billion new payments to the network. In 2018, ACH Network volume...
Wondering whether you should use ACH electronic debit for payment processing or not? What benefits or weaknesses does ACH billing have? Well, no worries! This article will tell you what ACH debit means and where you can get approved for ACH transactions fast and easily. ACH Electronic Debit: How to Make Reliable ACH Transactions ACH (Automated Clearing House) payments are...
