ACH Check Processing

ACH, eCheck and Credit Card – Diversified Payment Methods

It is quite a challenge to choose one payment option from a diversified payments method like ACH, Check processing or Credit/Debit card payments.

Every payment method differs from others in terms of transactional cost, settlement time, financial institution or onboarding process. Let’s discuss these payment methods, which helps you to understand which payment methods are the best suited to your business.

We at Quadrapay offer merchants with various payment solutions according to their business needs. We also support most of the high-risk industries whom most of the other processors are not able to provide any solution. We specialised and processed many of the industries till date.

What Are eCheck And ACH Processing?

Automated Clearing House or ACH is a payment processing method which process and clears transaction in batches. It is the most common Bank-to-Bank transaction method in the USA. The settlement of funds from one bank to another goes through the ACH network. The network connects all financial institutions having ACH service across the nation.

ACH is as secure as other forms of payment methods. The method is cost-effective and can be a new alternative to credit/debit cards payments.

Electronic Check or Echeck is a kind of Electronic Fund Transfer. eCheck also depends on ACH or Automated clearing House Network to process payments. eChecks are the newer payment method that comes after ACH. Being the newer payment method, it is faster than ACH.

ACH And Credit Card Processing

Though ACH and Credit Card processors work with the same approach to pull the funds from a customer’s bank account, they do so differently. ACH works with a different financial institution who handles all the disputes and has a different processing rate as that of the Credit Card Processors. For your simplicity, ACH is a newer form of payment processing which has a lower cost and has an easy onboarding process.

  • ACH transactions are processed through the Automated Clearing House network, whereas Credit Card transactions are processed through the credit network of the issuing card.
  • Credit Card payments are guaranteed transactions. Because the transaction only gets processed if the card used has sufficient credit limit. Whereas ACH, on the other hand, is not a guaranteed transaction. It is just a request against funds. The ACH payments are generally processed in batch and sent out for processing every day or as decided by the bank. Once the ACH request is out for processing, it might be approved or rejected based on the availability of the funds. This is the only problem with ACH payments that the request sometimes gets bounced due to non-availability of funds in the Customer’s account.

Which Payment Method To Offer Your Customer? Ach, Echeck Or Credit Card Payment Method.

Every payment method has pros as well as some cons, but choosing the best is not challenging. Though it is always recommended to offer your Customer with various payment methods. Merchants should always have a diversified number of payment options to serve your customer better. Quadrapay can help you with each type of payment option.

Accept ACH and eCheck Payment With Quadrapay

Still worried about which payment method to start with? Quadrapay will assist you which payment method is best for your business, whether it is ACH, Check Processing or Credit/Debit card payments processing. You can even give more payment flexibility to your Customer later with more payment methods. To get started, fill the pre-approval form onto our site, and we will get back to you shortly.

You can also get in touch with us related to ACH Check Processing solution at [email protected]

Happy Processing !!!

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