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ACH PAYMENT PROCESSING
SYSTEM – THE BASICS
It is very well known
that a business with an online merchant
account that provides easy, automated
and fast payment processing methods will
out perform those who don’t provide a
convenient means of paying to their
customers for their purchases. Customers
prefer to do business with those
companies which allow them to make their
payments without needing too much paper
work and check signing. These concepts
guide the systems of ACH. It allows you
to have a convenient and secure
processing system which can be offered
to your customers. By using the ATM
Verify technology, the risk of accepting
a bad check is almost zero.
The “ACH Payment
Processing System” will not authorise
the transaction immediately as is done
with credit card transactions. These 2
payment methods differ greatly. The “ACH
Payment Processing System” is not real
time payment processing like the credit
cards. This provides a safe and easy
alternative to credit cards. Some of
your consumers might have reached the
credit limit on all their credit cards
or a few of them stay away from credit
cards as they lead to debt. For such
customers the “ACH Payment Processing
System” will be very helpful as they
will be able to pay electronically by
having checking accounts. By increasing
the payment options, your business will
get a boost.
“ACH Payment Processing
System” is the most affordable payment
method available in the market. The
consumers and the merchants enjoy the
one time fee. This is much more superior
to paper checks and credit cards. With
credit card transactions the customers
will have to pay for the interest rates.
Paper checks will cost you postage
charges which may be expensive if the
distance is long. None of these expenses
are present in this system. All that
your customers have to pay is a
transaction fee which is much cheaper
that the postage stamp. The credit card
merchants also have to pay various other
kinds of fees’ such as monthly statement
fee, minimum monthly fee and annual fee
which make up a substantial amount of
your credit card bill.
Of course, no payment
system comes without certain risks
associated with it. However, the “ACH
Payment Processing System” reduces these
risks because it uses the “ATM verify”
technology. This is a good verification
system which will check whether the open
is active and has sufficient balance in
it. Therefore, when you get an e – check
you can at least be sure that there is
an active account with sufficient
balance associated with it.
The “ATM Verify” will
tell whether the e – check is unknown,
negative or positive. A positive status
indicates proper account with enough
balance. A negative status indicates
that no account exists with those
details or there is no balance. An
unknown status indicates that this
account has not been registered with the
ACH network. The bottom line is your
profits will be well protected from
cheating through the easy and fast
verification system. |
