Are you running a small business and using ACH transactions? Computerized payments are beneficial both for merchants and consumers. What is ACH? What is Same Day ACH? Just read this article and you’ll know. What You Should Know About ACH Payments The paper check system that consumers have long used evolved into ACH transfers. ACH payments can be described as...
Processing just got a little bit faster. Mid-September, it was announced that the nation’s automated clearing house network had launched same-day clearing and settlement for debit transactions. Same-day debits have been called “Phase 2” in NACHA’s faster-payments plan. Phase 1, same-day credits, was introduced a year ago, allowing users to move payments from their bank accounts to the accounts of...
When there was the need for faster payment processing alternatives, Same-day Automated Clearing House came as one of the leading options. And it has been so to date, however, there’s the question of whether it is a perfect fit or not for acquirers. Despite ACH’s cheaper service fee compared to the use of credit cards, the existing discrepancy may not...
ACH is the main network that processes most electronic financial transactions in the US. ACH payments are electronic payments completed through the Automated Clearing House (ACH) Network. They are a popular alternative to paper checks and credit card payments since they offer a number of benefits to merchants and consumers. The National Automated Clearinghouse Association (NACHA), the Electronic Payments Association...
In every business transaction, both the merchant and the customer like having options. Different methods translate to more opportunities for the trader, and flexibility for the buyer. As such, merchants especially prefer payment channels that don’t cost too much to process. An example of these is Automated Clearinghouse Payments (ACH). The best thing about ACH compared to credit cards is...
In recent years, the payments industry has witnessed some dramatic developments. New technologies aimed at facilitating payments appear in the market and going mobile accounts for a lot of innovation. According to 2016 AFP Electronic Payments Survey, 51% of companies’ B2B payments were still being made by check. Smaller companies generating less than $1 billion revenue annually and companies with...
Choosing the credit card processing terminal that is the right fit for your business needs can help you minimize processing costs and boost your profits. Credit card terminals come in a variety of types. With a reputable payment processor like emerchantbroker.com (EMB), you can get the best for your business needs. There are cases when you should have more than...
Thanks to technology and new innovations, business is continuously evolving. This includes an increased movement toward an electronic, mobile infrastructure. ACH (Automated Clearing House) plays a huge role in this. What is ACH? ACH is a network the was established for financial transactions within the U.S. This network makes it possible for various banks to communicate efficiently regarding transactions associated...
Same Day ACH is a new rule adopted by NACHA (National Automated Clearing House Association). The latter manages the development, administration, and governance of the ACH Network. Same Day ACH allows for payments to be processed within 1 business day, rather than the next day or day after. So Same-day ACH can be described as the US faster payments solution...
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...
