Electronic payments are gaining ground, according to a study conducted by the Federal Reserve. In their latest payments study, the Fed found that a total of 16 billion checks were written in 2018, with a total value of $26.2 trillion. This was a significant drop from 20.2 billion and $29.68 trillion back in 2015. Another significant sign of the advancement...
According to the 2019 Federal Reserve Payments Study, payments using debit and credit cards and the automated clearing house system (ACH) saw considerable growth from 2015 to 2018, while checks are continuously seeing a decline in use. In the study, the growth rate of noncash payments as defined by debit card, credit card, ACH, and check payments was at 6.7...
eChecks are arguably the most popular form of payment among US consumers. They are also a great solution for high risk merchants because they are known to increase sales and profits. By definition, eChecks are simply an electronic form of a paper check that gets processed through the Automatic Clearing House (ACH) network. When customers get ready to pay via...
The digital payment processing field is becoming more and more crowded. So, it’s no surprise that electronic payment processing methods like eChecks are gaining more traction with businesses and consumers all over the world. What many people often ask is “are eChecks safe?” To find out if electronic checks are safe and discover an exceptional eCheck payment processing provider, just...
What’s involved with the process of payments clearing? How long does it take for payments to get cleared? What about eCheck processing? Is this the right payment processing solution for you? Just move forward to get answers to these questions. Online Payments: eCheck Processing It’s no surprise that cash is becoming less widespread for paying for goods and services today....
Merchant service providers allow businesses to accept checks by phone, as another convenient payment option to offer their customers. To get started, all you need to take advantage of these services is a merchant account. Find out if check by phone services are right for your business. Understanding Check by Phone Services Taking a check by phone works very similar...
Fraud and cyberattacks threaten anyone involved in the payments industry. Major data breaches alarm credit cardholders and leave businesses cleaning up devastating messes. Despite these issues, customers still want a way quick way to pay that does not require cash. In addition to accepting credit card payments, offer your customers the option of paying via eChecks. But, are eChecks safe...
eChecks are regarded as the “next generation” payment method in the US. They boast a widespread use by businesses making payments online. Are interested in collecting eCheck payments from your customers? What’s important to know about eCheck payment processing? This article is here to help you with this. eCheck Payment Processing It was the year 1930 when Albert Haddock received...
Are you a merchant looking for a way to collect eCheck payments from your customers? Do you want to know more about eChecks? Don’t worry! This article is here to help you with electronic check payment and the best processor for this. Electronic Check Payment: What It Is? It wasn’t long ago when people wrote personal checks, the recipient delivered...
Are you interested in Same Day eChecks? What are these? How do they work? How can you get the necessary payment processing solutions for your business fast and easily? Just read below and you’ll get a better idea. eChecks and Their Features eChecks can be described as the electronic versions of a traditional paper check. eChecks help you withdraw money...
