What is ACH and Check Processing?

ACH and Check Processing ServicesACH payment an electronic payment system made through Automated Clearing House network. ACH is a secure method of transferring payments without errors, fast and time-saving. The Layman’s term defines ACH payment processing an electronic transfer of money between two accounts without the physical movement and paperwork. There are many typical uses of ACH Payments, as paying fees, bill payments, transacting funds from one bank account to another. Using ACH Payment processing solutions is eco-friendly because natural resources like paper or fule are hardly used to complete the transaction. All the transactions are made is being electronic.

The blog lists top Benefits of ACH and Check Processing for Merchants

  • It eliminates the heavy deposit fees and NFS return fees on those check not clearing. Radically reduces the banking fees.
  • All the checks processed and returned electronically are charged with little transaction fees.
  • Electronic fund transfers are processed in 1-2 business days. Fater transaction leads to faster NFS notification.
  • Fastest settlement of payments, checks are processed ahead of the paper item and cleared or precluded faster.
  • Saves money virtually eliminates the cost associated with preparing an electronic invoice.
  • ACH Payment Processing reduces the overhead costs. It is less costly and charges a flat fee per transaction of total sales.
  • The easy settlement the system matches the paid checks and list those checks that did not clear. All the NSF checks can be automatically resubmitted.

While accepting e-checks both the merchants and customers save money as the processing fee for e-checks is too lower than other types of online payment processing systems. Accepting card payments also include transaction fees this can be avoided with ACH Payments by the customers.

Radiant Pay specializes in ACH and Check Processing helping small and biggie industries to reduces the overheads cost and increase the sales with our tailor-made electronic payment processing solutions.

Crucial Criteria to Categorize Credit Card Service Processor

Merchant Account SolutionsThere are over 200 million online customers in Europe alone, so the number of people using credit cards for the transaction is really high and as they are comfortable with the usage of the card the proportion is continuously increasing. As a result, merchant often appoints a processor to handle transactions of credit cards for merchant acquiring the bank.

As business depends on credit card processor to handle all the detail related to credit card it becomes very difficult to categorize processor but, some of the criteria which help to define the quality of credit card processing are:-

 Speed of transaction As customers love to pay from their cards and even a short delay can create a big problem so, it is always suggested to the provider in order to make the customer happy they should always increase the speed of transaction.

Security of transaction – Speed is one of the important criteria but not the only criteria along with speed customer wants the security of the transaction and provider should try their best to make a customer feel secure about the transactions.

Strong uptime record – Credit card outage makes a business untrustworthy and inconvenient. However, credit card processing outages are rare, but all complicated interdependent system is vulnerable to downtime.

Transparent rate structure – Though rate and fees vary with the category applicable to business but processor must make sure they have quoted and charged appropriately without tricking the customers as it is unethical.

Customer support – In today’s era of online payment customers are king of the market and in order to stay for longer period in the market, the processor must try to win the heart of customer by providing best after service to the customer because happy customer makes a business happy.

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