|
Company Profile
About us
Contact Information
Customer Support
Merchant Services
Merchant Benefits
Why Accept Credit Cards
Requirements
Online Application
Market Solutions
Retail Establishments
Mail, Phone, Fax Orders
Internet Merchants
Restaurants
Quick Service Restaurants
Hotels and Motels
High-Risk Accounts
Golf Courses & Clubs
Fleet Cards
Value-Added Solutions
Working Capital
Mobile/Wireless Solutions
Check Guarantee
ACH Online Checks
Volume Discounts
Gift & Loyalty Cards
Equipment Solutions
Terminals & Peripherals
Free Pin Pad Offer
PC Software
Virtual Terminal Software
Equipment Repair
|
ACH Payment Solutions
The ACH, Automated Clearinghouse, program allows merchants to do one- time transactions as well as recurring transactions. Merchants can eliminate the hassle of net terms and increase their cash flow. ACH was first introduced in the early 1970s as a more efficient alternative to checks, ACH has evolved into a nationwide mechanism that processes electronically originated credit and debit transfers for institutions nationwide. ACH is a rapidly growing alternative to paper checks and handles billions of payments annually.
What is ACH?
The Automated Clearing House (ACH) Network
The ACH Network is a highly reliable and efficient nationwide batch-oriented electronic funds transfer system governed by the NACHA OPERATING RULES which provide for the inter bank clearing of electronic payments for participating depository financial institutions. The Federal Reserve and Electronic Payments Network act as ACH Operators, central clearing facilities through which financial institutions transmit or receive ACH entries.
ACH payments include:
- Direct Deposit of payroll, Social Security and other government benefits, and tax refunds
- Direct Payment of consumer bills such as mortgages, loans, utility bills and insurance premiums
- Business-to-business payments
- E-checks
- E-commerce payments
- Federal, state and local tax payments
- Membership fees
- Recurring Payments
The number of ACH payments originated by financial institutions increased to 8.05 billion in 2002, up 13.6 percent from 2001. These payments were valued at $21.7 trillion. Including payments originated by the Federal government, there were a total of 8.94 billion ACH payments in 2002 worth more than $24.4 trillion.
To set up ACH Processing for your business call a representative now at 1-866-677-2265
|
