In the today’s business era, all businesses and consumers just need that simple yet low cost way to manage transactions. One of these trending methods is ACH payments. What are ACH payments anyway and why should businesses consider including them in their payment process?
What is an ACH Payment?
ACH stands for Automated Clearing House: network used for cash transfers among bank accounts in U.S. ACH payments are a type of electronic funds transfer (EFT) that allows money to be sent from one bank account to another without the use of plastic checks or card networks. It is also used for bank to bank transfers (wires), payrolls, direct deposit and can receive international transactions or any other type of funds that open the need to be directly transferred between two accounts
How Do ACH Payments Work?
This means when you begin to conduct an ACH transaction, the money is pulled out of the payer’s bank account and put into the recipient through this special network. Debit and credit transactions usually take a little more time to go through this process, up to two days or so. Since ACH payments are batch-processed (collected and processed in batches at the end of each day), they tend to have a cost-saving on both ends — for businesses as well as individuals making or receiving an electronic payment.
Cost-Effective: ACH payments have lower fees than credit card. For businesses, which are typically dealing in high-volume transactions this could be a substantial decrease in transaction fees.
Security: ACH transaction is more secure in nature making fraud very less likely. These are regulated by the National Automated Clearing House Association (NACHA) which has various regulations and guidelines to guarantee that transactions become safe, reliable.
Efficiency: ACH payments provide streamlined payment processing for businesses as well customers. They permit auto payments where it is perfect for subscription-based services or regular bill payment.
More stable cash flow as businesses can process payments faster, and set up repeat customer orders It will help to manage financial more efficiently and also reduce the risk of late payments.
Why go with RapidCents for ACH payments?
RapidCents comes with the understanding that your business, no matter how unique or specific in requirements will one payment processing platform for all its issues. With our ACH payment gateway, you can safely manage your transactions while getting down to business.
Integrating ACH Payments through RapidCents as another payment method will allow your merchants to get great benefits in processing lower fees at their side and additional security level.
As digital payments continue to grow more complicated, ACH processing appears as a straightforward and promising alternative for firms both big or small. By incorporating ACH in your payment strategy, you can streamline accept payments from customers electronically and offer a secure way to pay. Find out what ACH payments can do for you through RapidCents and start streamlining your business payments towards maximizing profit.
