Tag Archives: ACH Payment Processing

ACH Processing for Ecommerce Business

ACH Processing for Ecommerce Business

The term ACH Processing offers great value to your business it gives you a reduction in processing fees that dramatically increase your sales. The establishment of ACH has gained huge popularity and helped many businesses to increase the revenues by setting up the recurring payments option for their valued customers.

Many business enterprises are using ACH Processing to process online payment for their e-commerce businesses. It has gained huge value in eCommerce as it accepts payment directly via a business website rather than accepting debit and credit cards. For the last few years, ACH Payment processing becomes the most valued and popular form of a method for accepting and making payments online. The method is very affordable and reliable for small businesses that are suffering from heavy processing fees, the best form of online payment that helps to save the transaction cost. 

ACH processing offers many benefits over the other payment option like discount rates, lower chargebacks, flexible and easy service, zero reserves, recurring billing and also offer hassle-free solutions. The processing services is known best for its saving on transaction fees, a merchant can improve the sales by 20% as it serves to all types of customers who do not own a credit card and unable to pay for the purchase of products and services, helping your company convert a significant amount of customers. 

Some Features of ACH Processing Includes –

  • Direct Deposit 
  • Electronic Fund Transfer 
  • Tax Saving 
  • Direct Payments 
  • Bill payments 
  • Local, state and federal tax payments 
  • B2B Payments 

ACH Networks allows you to transfer fund electronically into individual or company account. The ACH processing options help merchants and customers to provide better cash management capabilities to all who use it, thereby offering better and visible ACH transactions. Due to its consistent and secure method, the processing is highly safe and secure and there have not been any reports of missing funds or fraudulent activity in the history of ACH. 

Radiant Pay Offer Safe and Secure ACH and Real-Time Processing.

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Ignore visiting banks: Learn time-saving methods through Electronic Check Processing

What is Electronic Check Processing? 

Electronic check processing implies that you can change over a paper check got from a client into an electronic exchange that takes assets from your client’s record and places them into your record. This exchange happens using the Federal Reserve Bank’s Automated Clearing House (ACH) framework. It’s a quicker, more affordable approach to get your cash. 

What is the ACH Network? 

Put just, the ACH system moves cash starting with one substance then onto the next – electronically. The Automated Clearing House (ACH) Network is profoundly dependable and productive across the nation clump situated electronic subsidizes move framework which accommodates the interbank clearing of electronic installments for partaking storehouse money related organizations. The Federal Reserve and Electronic Payments Network go about as ACH Operators, focal clearing offices through which monetary organizations transmit or get ACH passages. 

ACH Transaction Types: 

Direct Deposit of finance, Social Security and other government advantages, and expense discounts 

Direct Payment of purchaser bills, for example, advances, service bills and protection premiums 

Business-to-business installments 

Electronic Checks (E-checks) 

Web-based business installments 

Government, state and nearby charge installments. 

In case you’re getting your checks legitimately saved into your financial balance, you’re as of now utilizing the ACH organize. You can use this framework for your business with the goal that you never need to go to the bank again- – you can process checks electronically from your PC.

Electronic Check Processing Enables Your Business To: 

Improve income with snappier access to your cash 

Spare your clients time and cash 

Increment on-time accumulations 

Get 48-hour notice of NSF 

Wipeout manual compromise of deficient assets 

Take out time-squandering outings to the bank

Wire or ACH? Which Payment Transfer You Will Choose?

ACH and Wire Transfer Payments
Online Safe and Secure Money Transfer Services

Banks use Automated Clearing House to Transfer Funds Electronically from one bank to another in safe and secure way. In these digital economy people and business firms would like to receive payments through direct deposit. As they find more convenient these method rather than using checks. This electronic transfer of money from one place to another is called ACH OR Automated Clearing House. Whereas wire transfer allows you to move your money from your account directly into the account of someone else.

Let’s Checkout the Difference between ACH and Wire Transfer

ACH Transfer – The electronic transfer of funds from bank account to another. Payment transfer is not occurring on real time the transaction is settled on future date.  Transactions are entered with a date to settle which is normally the next day.  Payments are transferred by your banks in groups or batches along with all their other customer’s scheduled payments, usually at the end of the business day. ACH Transfer is less expensive and can be done on batches. ACH cost banks $0.035 per transaction or $0.025 per transaction in bulk. ACH Transfer is given to customers in between $0.10 and $2.50, depending on volume. ACH by definition is meant to be automated, and meant to be delayed settlement, thus the lower cost associated.

Wire Transfer – It is similar to ACH Payments but have some few differences. Wire transfer perform task on real time and cannot be done on batches, performed manually. Wire transfer is more expensive than ACH Transfer. When an individual make wire transfer, both account holders are verified with the exact money in the account. Wire transfers are fast and secure; and since they’re handled individually by the banks.

Transferring funds, either by ACH or wire, is generally safe when using a financial institution. However, if your computer has become infected with malicious software (malware), cybercriminals can steal usernames and passwords and defeat common methods of user authentication employed by financial institutions.