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5 Reliable Sources To Learn About What Is An ACH Payment Gateway?

Achpayments10 Mar, 2021News

Everyone that has anything to do with selling anything online has heard the term payment gateway. So exactly what in an Recurring ACH Payments Gateway and what does it do? We need to understand that the ACH Network, which is administered by NACHA, is a batch network. It doesn’t provide the ability to reserve funds like credit card networks do. Ultimately, ACH IVR Payments are originated and delivered to ODFI institutions. Depending on the sophistication of a given bank or credit union, differing methods of ACH transaction data delivery can be involved.

Ten Things You Need To Know About Payments In Canada

Achpayments03 Mar, 2021News

Payment scheduling: Accept a one-time payment for the present or any future date. Set up recurring payments with multiple scheduling options. Intuitive interface that make payment processing and reporting simple Hardware support: Plug in a credit card or check reader via USB and swipe cards for auto-import into the Virtual Terminal. Anti-fraud tools: Address verification, velocity controls, advanced checking account verification tools as well identity verification.

How Long Does It Take For An ACH Payment To Go Through?

Achpayments23 Feb, 2021News

While traditional credit card transactions can be disputed and charged-back for multiple reasons, ACH transactions are far less likely to be disputed. There are three main reasons that ACH transactions are disputed: The transaction was simply not authorized to be debited. The date that it was processed in incorrect. The amount was incorrect. A formal affidavit must be completed at the bank where the ACH debit was drawn upon in each of these cases. We are also read for How Will SMS Payments For Charity: A Necessity In 2020 Be In The Future

What To Look For In A Canada EFT API?

Achpayments16 Feb, 2021News

Are there risk acceptance models available that could lower processing costs? Is there an API that would allow your customers to apply from your site or app? If your market base includes Canada, does the partner provide a single API for both US ACH and Canadian EFT? Does the platform meet PCI Security standards even though NACHA does not require ACH transactions to be PCI compliant? Are there opportunities to leverage the Canadian EFT Processing Integration for your apps’s revenue stream? API availability: Does the partner offer Restful or SOAP Canadian ACH transaction integration, or both? ACH Integration–The Missing piece? Is sensitive data tokenized and can a call be made to immediately tokenize the bank account data prior to an origination? What other payment utilities are available? Are there ancillary utilities available from the ACH API to make calls for anti-fraud and risk mitigation?

Low Cost ACH Processing | ACH Payments

Achpayments08 Feb, 2021News

So you save $2.20 per customer debit. Having 500 customers all on credit cards costs you over $10k per year more than an low cost ACH Payment Processing option. There is a 2nd reason ACH Payments are an attractive alternative to credit cards. Second is payment rejects or declines. Let’s say we have 500 clients billed via credit cards on a monthly basis. Credit card declines routinely exceed 10% with 15% common. Consider the business above billing 500 clients. 75 or so decline resulting in revenue shortage of $7500/month or $90k per year. Sure effort [read $ costs] will be made to re bill but you can count on 2 things: 1-You are going to lose revenue and 2-You are going to lose customers you just could not collect from.

Why Recurring Payment Based Businesses Need Ach Integration

Achpayments02 Feb, 2021News

ACH Processing Risk - Almost all of the businesses we speak with have not considered the implications of possessing the dollars or they are hoping a financial partner will step in and do the dirty work. There are however platforms that have the payment solution idea and have some idea about the surrounding complexities. So is there a way to actually solve this problem? The answer is a complicated maybe.

Where Can I Make An Ach Payment?

Achpayments27 Jan, 2021News

Ancillary services: Some third party processors take advantage of integrating to services that can be of benefit to originating organizations. For example, there are authentication and verification services that can be called if the processor is integrated. Accounts can be verified to be open or closed and whether they have a positive balance. Even matching names of individuals and businesses to accounts can be authenticated.

4 Significant Benefits Of IVR For Businesses

Achpayments21 Jan, 2021News

In other organizational scenarios the billing amounts are not the same each month, and while there are API payment integrations possible for the billing organization to create and employ a quasi-recurring payment scenario, the varying billing cycle amounts tend to be met more favorably in some organization types if the cycle payment amounts are â€œapprovedâ€ on a case by case basis. In other words, if an organization is billing a customer for services that vary from $100 on one given month to $3,000 on the next billing cycle, the customer is less likely to give carte blanche to the billing organization to debit them without first checking their balance and granting approval.

The Benefits of IVR System for Payment Processing

Achpayments13 Jan, 2021News

Another benefit of IVR payments comes in that callers donâ€™t have to spend time on hold waiting for a customer service agent. Todayâ€™s IVR technology can support more calls than a company has callers. That leads to happier customers. Not only is there a benefit to customer service hour reduction, but the staffing hurdle for peak calling dates and hours is eliminated. Sure, there are times when there is a need for human customer service intervention, and todayâ€™s IVR technology can support that by programmatic configuration.

ACH And Credit Cards - A Single Integration - ACH Payment Processing Solutions | ACH Payments

Achpayments08 Jan, 2021News

ACH IVR Payments via ECheck usage in late payment collection. Interactive Voice Response (IVR) as an automation tool has been around for many years. Recently there have been tech improvements that allow organizations to use modular drag and drop architecture to build IVR ACH and IVR ECheck Payment Solutions.