We as a merchant still have a long way in order to attain an easy, secure, and safe environment for payment transactions. Though technology has been successful in transforming the way we used to make payments in the online world. Technology has allowed merchants to use a flexible payment system where they can electronically or digitally transfer their funds from one financial institution to another financial institution. But still, it is not safe to make payment with the eCommerce websites. The transactions through ACH is less prone to fraudulent activity or treachery. If your business offers subscription-based services then ACH is the best solution for your firm. Most of the businesses are accepting funds mainly through common ways such as check, cash, and credit or debit card. However, others are taking benefit from another successfully rapid growing option ACH payment processing it is simply a kind of electronic check payment in large batches, whether they are accepting payments from customers or issuing banks.
Merchants can easily grab ACH networks for processing their online payments with the help of a merchant account provider. It is recommended to hire the best merchant account service provider so that they can help you get the best services. A reputed service provider will allow you to have smooth and secure payment transactions.
Exponential growth for businesses
Prior to this new technology i.e ACH payment processing network there used to be traditional checks that were used to transfer funds. But the system remains inefficient and involves a lot many formalities that need to be done while processing them. It has allowed businesses to make quick and easy payments. There is the various aspect of using this technology to grow your business exponentially. And every aspect has its own feature to aid up value to the business. Here are some of the features that will allow you to have higher growth for your business.
· You can easily obtain high productivity in your business and simply enlarge your customer database by rightly opting for a payment option that has low transaction costs. On average, processing a check costs around $1.22, where the traditional credit or debit card takes 2.4-3.5 % per transaction. On the other hand, the ACH network costs .60 per transactions due to batch processing.
· Apart from providing a safe and secure payment transaction for the peace of your mind, it also ensures a secure system that is encrypted. The information that is being carried from one financial institution to other financial institution remains encrypted until it reaches the safe and secure environment.
· Using ACH networks has helped businesses in making the payment process easier as compared to writing a check for potential customers. Now there is more prospect of converting this potential customer into a sale.
· Businesses can also be benefited by enabling payment transactions to those people who are not interested in sharing their credit card or personal information online. Hence, ACH also provides an alternative for those customers who are not interested in making the payment with the credit or debit card.
· Apart from that one can also have the advantage of automatic funds debit from their bank account whenever the payment is due.
EskayPay is the leading merchant account service provider that will help you get the best credit or debit card solution and they will also provide services for merchants interested in ACH payment processing. If you are running a business that deals with monthly subscriptions or recurring bills then you are required to opt for this option. Get in touch with our experts to enjoy uninterrupted services from us. We take pride in serving our customers and meet their needs.
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