Top Benefits Offered By ACH Processing

Posted October 23, 2012 by joannaporter

ACH processing electronically credits funds to the bank account of the merchants while debiting the funds

ACH processing electronically credits funds to the bank account of the merchants while debiting the funds for a purchase or an order from the bank account of a customer. This mode of payment offers a lot of advantages and because of these plus points it is even regarded as a superior mode of payment in comparison to the credit card payment option. It is because of the sheer amount of advantages offered by ACH that merchants make an effort to integrate ACH payment API so that they can allow their customer to use the ACH mode of payment.

The first benefit offered by ACH processing is that the merchant gets to enjoy reduced banking fees. This is possible because the checks are processed electronically therefore it significantly reduces the item fees for bank deposits and also the Non-sufficient funds return fees for the checks that could not be cleared. By using ACH payment API, money could be saved since the transaction charge is minimal for electronic transactions. Moreover, a majority of these electronic transactions are processed within forty eight hours therefore it promotes efficient check recovery through faster NSF notification.

As a merchant you will get your money faster by making use of ACH payment API and as a customer, your due will be cleared off faster via this mode of payment processing. It is a fact that electronic items, NSF checks included process faster and get rejected faster than paper checks therefore you will get your money in a shorter span of time. In case of NSF checks, the customers are notified about it faster and the NSF matter is settled faster via ACH processing method and so it allows the customers to resume their purchase of goods or services from the company.

By using ACH processing system, one would be increasing the recovery odds of payment by customers by 33% since electronic submissions enable a third electronic redeposit to be made. Quoting the saying ‘Third time is a charm’ applies in this situation. Once you have integrated the ACH payment API you can implement customized automated payment plans easily as per the financial abilities of your customers. After you enter the payment information of your customer into the software, the software would be taking care of retrieval of payment from the customer as per the schedule fixed by you.

Why do business owners go for integrating the ACH payment API technology into their payment systems? To ensure that they enjoy competitive advantage of course! It is a dog-eat-dog world out there in the industry since the competition is severe, therefore in order to become smart businessmen individuals are required to offer their customers multiple payment options. Through ACH processing, customers are allowed to make payment via fax, telephone or the internet. Offering your customers with a vast selection of payment options helps in buying their appreciation and life-long trust.

One of the plus points of ACH payment API technology is that it prevents unauthorized access or fraud by third parties. The ACH processing system is safe and secure since it allows 128-bit encryption transmissions, which is at par with the highest standards of the current transmission requirements laid down by the government. Also, this system of payment offers easy reconciliation since it segregates the paid checks from the unpaid checks and even resubmits the latter automatically. Owing to these top benefits, the ACH mode of payment is truly popular amongst customers and merchants alike.

Some of the top benefits offered by ACH processing are secure transactions, reduced fees and ease of reconciliation. Things are rendered more convenient by implementation of ACH payment API so that the advantages can be accrued to their maximum limit.
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Issued By joanna
Country United Kingdom
Categories Technology
Tags ach processing , ach payment api
Last Updated October 23, 2012