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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.

Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.