Tag Archives: accept online payments.

ACH Transfer| How They Processed and Work?

ACH transactions are computerized payments that provides benefits to customers and merchants in an inexpensive way. It is controlled by an automated clearing house network, funds are transferred directly from on bank account to another. This type of payment are automated or recordkeeping and offers an easy way of the electronic payment system. ACH payments are the most popular form of payment transfer method for many businesses that they can offer to their consumer, as it cost low transaction fees and convey predictable processing timelines.

Every year more than 25 billion ACH Transactions are been processed by the ACH network. Radiant pay facilitates ACH and Check Processing, stat testing the system with radiantay.com to know the better language of ACH Payments.

Now! How Does This ACH Network Work? Let Us Explain

Many business entities pay wages through direct deposit or let us say consumers pay bills electronically, nowhere ACH payments are responsible for those payments.

Some Takeaway of ACH Payments

  • It is an electronic bank transfer that is processed through the Automated Clearing House Network.
  • ACH Payments are most commonly used for employers to pay the payrolls directly into the bank accounts.
  • ACH transfers are inexpensive, quick, secure, and fast.
  • It is easy to keep the record of income and expenses with every transfer, however the bank creates an electronic record of ACH transfer.

Types of ACH Transfer

Gone those days when you have to walk-in for bill payments or wait for a check to clear, ACH transfer make life easier for consumer and merchants. One can conveniently transfer or receive the amount just sitting at home. ACH Network Processes two kinds of transaction i.e.

Direct Deposit

Direct Payments

Direct Deposit is a kind of electronic payment made from a business entity to the consumer. It includes:

Pay checks
Tax Refund
Interest Payments
Government Benefits
Annuity Payments

ACH Direct Payments can be used by single persons, businesses, and other entities to send money. For e.g, if you’re recharging your DTH Plan online with your bank account, that’s an ACH direct deposit.

The Hottest Trends in Online Banking

The Hottest Trends in Online Banking

Sanding in bank queue is toughness work to pay your card bills or other documents waiting for your bank statements to arrive in the mail? Welcome in the ear of internet banking, the best alternate option of banking when you don’t like to stand in a queue or going to the bank physically for the transaction. Nowadays It uses internet banking with advanced computerized technology to give a seamless experience to users to avoid time-consuming tasks and paper-based work of conventional banking for the better management of financial accounts more efficiently and easily. 

With help online banking system, you can manage and control your banking transaction easily whenever or wherever you want without any hassle with internet access. Online banking gives your high flexibility with huge advantages, gives you the best convenience, easy to use, high security and comes with the latest term of technology and the use is absolutely free of cost. 

Online banking gives you varied benefits and security features for every customer who needs safe and easy banking solutions. almost it offers every facility you need to do from your home or office. Hence, internet banking has been improved with even more user-friendly techniques to make banking easy and fun. 

Bills Payment – when you use online banking there is no need to stand up in the queue. pay your bills online at your convenience. Scheduled payments for the recurring transaction is the best option you can avail with internet banking.  

Account Details – it gives you benefits to keep track of your account details anytime anywhere. you able to view balances, account statement, deposits, interest rate, and loan account easily. You can even print your account statements weekly as per as your requirements. 

Electronic Statements – You can get an electronic statement in your mobile phone, so there is no more waiting for the mail. you can view all details on the app, access past statements for easy financial work. 

Fund Transfers – Easy transfer of funds between your multiple bank accounts in local or foreign banks. You can also request for demand drafts. Create Scheduled transfers to accounts within your bank. Define the amount, effectivity and frequency of your payments.

 

Credit Card Processing How to Break the Cost?

Handle all negotiation to break the card processing fees
Handle all negotiation to break the card processing fees

If you’re a merchant who accepts payments from customers through credit cards, there is no way for you to completely stop payment processing costs. However, there are many ways in which you can reduce the payment processing costs to the bare minimum. Let’s not discuss ways in which you can reduce your payment processing fees:

 

  • Credit card companies often have additional charges for terminal functions that they provide. If you’re certain that you will never use such terminal functions, avoid paying extra for such functions. You can end up saving a lot of your hard earned money by making sure that you don’t subscribe for terminals that you will never use.
  • It is recommended that if most of your business is conducted telephonically or online, opting for a processing software over a terminal is much more financially beneficial.
  • Reprogramming of the existing terminal by the service provider can help in saving your money.
  • If you’re planning on leasing out your terminal to reduce monthly costs, you need to be extremely careful. Long term contracts and extremely high cancellation fees may end up costing you much more than you can imagine.
  • Compare credit card company payment processing prices before you get a specific credit card company on board. Not all credit card companies offer the same payment processing prices. While some credit card companies may have higher processing costs, others may offer a more affordable and budget friendly cost.
  • When deciding which credit card company to get on board, make sure that you discuss the waiver of cancellation fees. Credit card companies end up charging you a decent chunk of money for cancelled transactions. You need to strike a deal with the credit card company and make sure that they don’t charge you any money for cancelled transactions.

 

 

 

 

Are You Ignoring Your Payment Processing Fees?

card processing fees radiantpayAny merchant or online seller is well aware of the payment processing cost that he has to bear in order to accept credit card payments from customers and buyers. Typically any credit card processing fee snatches away almost 2% of the total sales value of the merchant. This fee often differs from one credit card Company to another. For a merchant who is selling products with limited profit margins, giving away 2% of the sales value can prove to be costly. While there are a lot of ways to tackle this menace of payment processing fees, a lot of merchants are still oblivious to the payment processing amount of money that they end up shelling out to the credit card companies.

 

If you’re one such merchant who’s successfully running an online store, or even just running a regular store that accepts credit cards for payments, you need to understand and be aware of the number of funds you’re giving away annually towards payment processing fees. Once you realize and are made aware of the amount of your hard earned money that is being given away to credit card companies, you will probably want to do everything in your power to reduce the payment processing costs that you’re paying.

 

One thing that is recommended to every merchant who accepts debit and credit cards as payment is that he should keep a proper record of all the processing costs that he ends up paying. Don’t just go about paying payment process costs blindly without getting educated on the matter. There are countless ways that one can actually tackle and reduce the payment process costs that they are paying. Find credit card companies that charge lower payment processing fees. Always keep in mind that the profit you make from your sales is your hard earned money and you should do everything you possibly can in saving a large chunk of it.

 

Apple Pay with iPhone, iPad, Apple Watch and Mac

Apple Pay Apple Pay offers a simple, secure, and personal thanks to paying on iPhone, iPad, Apple Watch, and Mac.

You can use Apple Pay in stores, at intervals apps, and on websites in the expedition. In the UK, you’ll conjointly use Apple Pay with Transport for London (TfL). Once paying in stores with Apple Pay in some countries and regions, if you’re dealing exceeds a precise quantity, you may enter your PIN. In some cases, you may sign a receipt or use a unique payment methodology.

In stores, explore for one among these symbols at checkout. If you can’t use Apple Pay at a store that displays one among these symbols, allow us to recognize.

Apple Pay is safer than employing an ancient credit or identification. Each dealing with your iPhone, iPad, or waterproof needs you to demonstrate with bit ID or your pass code. Your Apple Watch is protected by the pass code that solely you recognize, and your pass code is required on every occasion you place on your Apple Watch. Your card range and identity aren’t shared with the business person, and your actual card numbers aren’t kept on your device or Apple servers.

When you pay in stores, neither Apple nor your device sends your actual credit or identification numbers to merchants. After you pay at intervals apps and websites in the expedition, the business person can solely receive info like name, email address, charge and shipping addresses that you just authorize to share to satisfy your order. Apple Pay continues unknown dealing info like estimated purchase quantity. This info can’t be tied back to you, and never holds what you are shopping for. Apps that use Apple Pay should have a privacy policy that you just will read, that governs the hiring of your information.