Same-Day US Electronic Payments. Prior To Phase 2 of Same-Day ACH

Feb 06, 2017

According to the Electronic Payments Association, almost $5 billion in US electronic payments were brought in on the same day in October 2016. This happened after the adoption of new rules by financial institutions to accelerate the transfers. The trade group stated nearly 3.8 million same-day transfers (the average amount made up $1.303) were registered in October 2016.

According to the group, which is responsible for the management of the ACH (Automated Clearing House) network for interbank, direct deposits and payments, the mentioned transfers took 2-4 business days before the adoption of new rules on September 23, 2016.

Due to Same-Day ACH rules, all financial institutions were allowed to receive same-day transactions. The new rules were expected to influence the way consumers and businesses moved funds each year. Every year, nearly $40 trillion in funds is moved by consumers and over 80% of 28 million businesses in the US.

If you’re interested in reliable and secure payment processing for your online business, turn to, the top high risk processor in the US. EMB is rated A by Card Payment Options and A+ by the Better Business Bureau (BBB). EMB is one of Inc. 500’s Fastest Growing Companies of 2016. EMB offers the lowest possible rates for merchant accounts and exceptional chargeback protection and prevention programs in the industry.

As the association notes, the largest number of same-day transfers in October 2016 were direct deposits associated with emergency payroll and pension payments, which represented 49% of transactions. This was based on 1.9 million payments accounting for 1.6 billion.

B2B (business to business) payments represented a 36% share. The latter was based on 1.4 million transactions accounting for $2.8 billion.

The association adds the new rules aimed at promoting faster payments and debit and credit transactions settlement are to be adopted on September 17, 2107.

Janet Estep, president and chief executive officer of NACHA (National Automated Clearinghouse Association) has mentioned that thanks to Same-Day ACH, you can be sure your payment can get to anyone else with a bank account on the same day, no matter which bank or credit union they use.


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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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