ACH Payment Processing Made Easy Now With VT And API

If you are searching for Ach payment processing, then your search is over now. You have landed on the right page. In this informative article, you will get to know a lot about ACH payment process. The ACH stands for Automated Clearinghouse. It is used to transfer funds between banks. ACH or Automated Clearing House network is a robust payment method used by merchants across the United States. It generally takes 24-48 business hours to complete a transaction. The ACH processes multiple operations in a single batch. Payment processing companies help big corporations, financial institutions as well as small businesses to accept payment ach payment within the USA. The ACH process is suitable and less expensive, but it also takes a couple of days to complete the process. Moreover, they charge a monthly fee.

ACH or Automated Clearing House payment processing solutions are becoming popular across the United States of America. Business owners who are struggling to find a merchant account for credit card processing can utilize this alternative payment mode. The integration is quite simple. ‘Buy now’ buttons can be created on merchant’s website and the transaction can take place in a secure environment over https protocol. Merchants that accept orders over the phone or perform a face to face transaction can submit the Account Number, Routing Number, and other information into the Virtual Terminal or Mail Order Telephone Order (MOTO) Terminal. The rates can be extremely low but High Risk Merchants are supposed to pay a slightly higher fee. Few Third party ACH Payment processing companies also offer this solution to Non-US merchants.

Quadrapay Offers Low Cost ACH Processing Services

Quadrapay works with multiple Ach payment processing companies that help merchants to accept payment through this solution. If you are looking for an Ach payment solution for your business, then contact us on [email protected] .Our team will surely help you and assist you to the best solution. Quadrapay have good relations with many third-party Ach payment processing companies. They will be happy to onboard your Application.

Benefits Of USA ACH Payment Processing

Ach helps businesses that’s work on subscription models because it allows them to accept payment in the most cost-effective way. It ideally saves money on transaction fees. The more transactions these businesses make, the more transaction fees they have to pay and vice versa. Therefore, ACH is the best choice. Listed below some benefits of ACH:

  1. It has a low transaction cost.
  2. Ach is known for Faster processing too.
  3. It is Secured.
  4. It is also known for its Convenience
  5. The merchant doesn’t need to remember to make payments
  6. It’s environment-friendly too.
  7. It is effortless to track payments since payee names appear on your bank statement.
  8. Also, the person does Not have to wait for the postal service to deliver payments or worry about lost mail.

New Approaches Of Same Day Payments With ACH

  • Previously the Ach took seven days Normal to complete a transaction. Moreover, it slow downs the process if there is any holiday or weekends. In today’s fast pacing world it’s too slow, especially for an electronic payment system. Same day ACH payment began a couple of years back. It is expanding so quickly, so you should see faster payments soon. Many Ach processing companies have started and adopted the same day payment method. This modern approach takes 24-48 hours to complete.
  • Echeck virtual terminal is also one of the modern approach used to accept payments. It is an easy method to receive and send payments over mobile phones. The virtual terminal can approve and decline transactions over the phone. You can keep a complete record of your debts that you have sent and received. The virtual terminal can be very helpful for accepting payment in any business.

Why choose ACH Or Echeck Payment Processing?

  • By using ACH payments in businesses, one can easily add benefits of adding it by opening up payment method beyond debit and credit cards. With ACH payments you can offer your customers card-free payments without extra charges. Also, Ach allows customers to pay for their purchases directly out of their bank accounts. Listed below two main reasons that’s why we should use Ach Payment processing to transfer or receive money :
  • Automatic payments: If you choose recurring payments than the receiver can pull funds from the sender’s account whenever the bill is due. These electronic payments can be made weekly, monthly or quarterly, according to the agreement. The receiver initiates the transaction, and the sender doesn’t have to take any action, which helps him/her to pay bills on time even if they are busy or they forgot it.
  • On-demand payments: You can also set up an agreement between the sender and the receiver, without authorising automatic payments. This allows you to transfer payment funds only when you decide and you’re in control of your account. On-demand payments can reduce the risk of frauds.

High Risk Ach Merchant Account

What Is A High Risk ACH Merchant Account? How To Get One For Your Business

A high risk ACH merchant account is a type of business merchant account that is suitable for such businesses that are listed under the high-risk business category. In such cases, it becomes difficult to get a merchant account or credit card processing solution because most of the financial institutions and banks reject these applications as they see a high-risk business. With the help of a high risk ACH merchant account, a business can quickly start accepting payment online for their website.

What Are The Factors That Classifies A High-Risk ACH Merchant?

There are some primary factors that generally make a business to be considered under a high-risk business category. They are as follows:

  • Bad credit score.
  • Incomplete website.
  • Copied content on the website.
  • Meager traffic on the website.
  • High ticket size and item.
  • Cross border transaction.
  • Negative reviews about the merchant.
  • High chargeback to sales ratio such as recurring billing.
  • Restricted Industry As Per Card Schemes.

All acquiring banks do not provide high risk ACH merchant account solutions because of the risk associated with a business. They believe in working with a merchant who has low-risk businesses. Many business owners come under low-risk business, but still, they are not getting approved by card processing companies.

Many merchants do not want their business to be considered as a high risk ACH merchant account, but due to several reasons, their business is classified into this category. Some of the reasons are industry type, large transaction size, future dating services, spiked monthly volume, past processing history of a business, etc.

Few Industries that may require High Risk ACH Gateway

  1. Casinos, gambling, gaming.
  2. Travel, ticketing agents, accommodations.
  3. Telemarketing, VoIP, calling cards.
  4. Pharmaceuticals, online drug providers.
  5. Subscription services.
  6. Dating services, adult entertainment.
  7. Debt reduction/credit repair counselling.
  8. Limousine and Taxi Services
  9. Tobacco Merchant Processing
  10. Ecig
  11. Skill Gaming
  12. Tarot Card And Fortune Tellers

How Does A High-Risk ACH Merchant Account Works?

  • Firstly understand what an ACH is? It is known as an Automated Clearing House. ACH payment is a form of electronic payment. In ACH the funds are transferred from one bank account to another bank account, i.e., from payers to payee’s account. Electronic payment always provides benefits to both customers and merchants. ACH payment processing is not so expensive, easily automated and can be kept in record. ACH can be used for recurring payments.
  • For ACH processing, the payer must know the details of the payee bank account. The details should be the name of bank, account type, routing number, and account number. The information can be obtained via phone call or mail. After this step, the payer will enter the details in the virtual terminal in the processing system. The ACH will save all the transactions in batches. These batches are processed every end of the day. The funds will be reflected in the bank account within 24-48 hours.
  • Many people in business do not get approval for a high-risk merchant account. Most merchant services accept debit and credit card processing. High risk ACH merchant service accepts check processing as well. A high risk ACH merchant account is for those merchants whose business transaction is processed in ACH. Most payment gateway do not offer their processing services to high-risk merchants.

We are delighted to announce that our team Quadrapay is willing to offer all these services to high-risk business merchants as well. Don’t hesitate to use our services. We offer these services at a low price. If you think you are a high-risk merchant, don’t hesitate to mail us your query. Once we get your merchant application form, we will contact you on your provided email or registered mobile number. Our team will be delighted to work with you.

Requirements For High Risk ACH Merchant Account:

In order to set up the merchant account, some KYC documents are required for verification. Some basic KYC documents are as follows:

  • Business bank statements.
  • Business cash and plan flow.
  • Utility bill or address verification for business.
  • Driving license or passport for prominent directors and shareholders.
  • Company Registration Certificate.
  • Domain proof details.

High Risk Ach Processing For Startups And Experienced Merchants

Merchants across the United States use ACH and Echeck for payment processing. Since the last few years, High Risk ACH Processing has started to see more significant demand. High-risk merchants usually work with these High-Risk ACH payment processing solutions. Startups, merchants or merchants with bad credit scores can also use a high-risk ACH merchant account.

Conventional credit card processing companies prefer to work with low-risk merchants. High-risk merchants may fail to maintain the chargeback limit of the card processors. These merchants approach High Risk ACH Processing companies. If financial institutions have said no to you for card processing, then you should apply for ACH now. In this article, you will know how Quadrapay can assist you in getting High risk ACH Processing accounts. Quadrapay has established relationships with few established third-party USA ACH processing companies.

How High Risk ACH Processing Services Work?

Let’s take a more in-depth look at high risk ach processing services. It is essential to understand how ACH transactions go through. ACH processing companies offer the facility to collect sales over phone and web. Business owners can easily integrate the solution on their websites. Processing companies offer highly efficient API. The first step to use ACH processing services is to enroll with a service provider. After getting approved and integrating the gateway to the website, the merchant can start accepting payments. Your customers can place orders by over the phone, or they can also visit your site and follow the cart shopping process. For some high-risk merchants, these companies can also offer voice verification and e-sign facility. With voice verification, merchants can quickly eliminate a considerable amount of fraud transactions.

An electronic signature document can also be utilized by the processing company to reduce the credit risk factor. Most of the time within 24 hours the funds move from the payer’s account to the payment processors account. The processing company will further deduct the transaction charges and make settlements to the merchant’s business bank account. To accept ACH payments for your high-risk business, you need to collect these necessary details from the buyer.

  • Full Name
  • Billing Address
  • Shipping Address
  • Phone Number
  • Email
  • Account Number
  • Routing Number

Once you submit all this information on the virtual terminal provided by your high risk ach processing company, then this information reaches the ACH processing network in batches. Through the merchant control panel, you can track the status of each transaction. Merchants can also initiate refunds if needed.

Type Of Payment Methods Available With High Risk ACH Processing.

As discussed earlier in this article, there are two modes of payment used in ACH. Web-based payments and virtual terminal-based payments. If you have an E-commerce website where customers can look at your product, then the web-based integration can be a perfect option. In case if you have the requirement of accepting mail order telephone orders, then the virtual terminal will be useful. No matter how you prefer to receive orders from the customers, ACH can undoubtedly help your business.

KYC Needed By Financial Institutions For High-Risk ACH Processing

To give you the approval for ACH processing your High risk ACH processing service provider will ask for KYC documents. These documents may vary depending upon the industry type, but some documents are always expected. Let’s look at vital documents that are needed for you to get approved.

  • Certificate of incorporation or business license: This is the document that will prove the validity of your business.
  • Utility bill and the business registration documents of the company: Financial Institutions require to know where the company is being operated. This is the key reason they will ask for a utility bill for your addresses. In case if you do not have utility bills, then you can certainly try to provide alternative documents that may include notarized Lease agreement.
  • Void check or letter of good standing: High-risk ACH payment processing companies settle funds to the merchant’s business account. To ensure that the merchant is sharing the correct bank details, they would ask for these documents.
  • Identification proof. Your national ID can work as the identification proof. You may also provide your driver’s licence or any valid ID proof to the processing company.
  • A website with an SSL certificate: Although these companies who provide high risk ACH processing still have to follow the mandatory guidelines for various financial institutions. The processing company will ask you for a who is a certificate. You can quickly get the certificate from your domain registrars control panel, or you can also visit whois.com and download the same. A screenshot of the whois report is sufficient.
  • Previous processing statement. Startup merchants may also be approved for ACH, but it always helps if you have a processing history. ACH processing companies feel more comfortable working with merchants with existing business activities. Even if you have a Paypal statement, you must show it to the processing company.
    Recurring Billing With High Risk ACH Processing
  • Recurring billing is one more attractive feature that can be very helpful for the high-risk merchant account. Most Credit Card processing companies prefer not to offer a recurring billing facility to the majority of merchants. With ACH, merchants can accept recurring payments from their customers. They can easily collect monthly or quarterly payments. Industries like Search Engine Optimisation, Web design, online pharmacy, gaming, credit repair, and online dating can effectively use the recurring payment facility.

Type of High-Risk Businesses That Can Use A High Risk ACH Payment Processing Solution

Businesses from various Highway Industries can use a high risk ACH payment processing solution. Some of the most common Industries that can get the most out of this processing solutions are listed below.

  • Adult Industry
  • Any business offering membership subscription
  • Hotels and tour operators
  • Immigration Consultants
  • Document preparation companies
  • Veterinary Services
  • Pet trainers
  • Cruise Liners
  • Online magazine sellers
  • Astrologers
  • PC repair companies
  • Non branded e-commerce
  • Real estate companies
  • Adult Entertainers
  • Multi level marketing
  • Lawyers
  • Chartered Accountants or tax Consultants
  • Weight loss companies
  • Gym
  • Private tutors
  • Electronic cigarette
  • Forex coaching
  • Furniture Manufacturers and seller’s
  • Cryptocurrency training
  • Web hosting companies
  • Essay writing
  • Nutraceuticals
  • Warranty services
  • Advertising companies
  • Matrimonial services
  • Human resources Consultants
  • Charity NGO
  • Liquor stores
  • Credit repair

Some of the above mentioned Industries may not get success with ACH. Still, they can use echeck as an alternative mode of payment processing. So if you have tried to get a high-risk merchant account and have not received any success, then it’s the right time to apply for high risk ach processing. ACH transactions can help you to achieve a similar amount of success in comparison to card transactions. The ability to accept payments over the phone using your ACH virtual terminal can help you offer a better experience to your customers.

ACH is undoubtedly a lot better than cheque processing. High-risk ACH is now available without any upfront cost for most of the business types. These payment processing companies are fast regarding on-boarding. High-risk merchants can easily start accepting ACH payments in 3 to 4 business days. After successfully using ACH processing solution for 3 to 6 month, you can approach any Credit Card processing company with your processing statement.

The Credit Card processing company may have better faith in you after they look at your ACH transactions.
It is time for you to apply with Quadrapay so that you can start accepting payment as soon as possible. Quadrapay team members will immediately get you connected with reliable third-party ach processing companies. To begin your application fill the form available on our contact us page.

Advantageous Of Accepting ACH Payments On E-commerce Sites.

ACH payment processing is one of the most prominent modes of payment acceptance in the USA after Credit Card processing. Online Credit Card processing has its advantages. Features like 3D secure filtering, AVS and Tokenization are only available in card processing. Having said that let’s look at some benefits of using an ACH on an e-commerce website.

Quadrapay assists merchants with ach services for small business and ecommerce ach processing as well. With ACH you can sell expensive products easily. Most card processing companies are saying no to high ticket merchants. The good news is that ACH processing companies may offer a ticket size of up to $ 2,500. With this you will you will be able to sell expensive products and can earn a large margin of profit.

  • Recurring Payments With ACH. Recurring payment is considered a risk-oriented activity in Credit Card processing industry. Businesses that usually sell subscription-based products prefer to work with ACH payment service providers. Merchants can accept Monthly and Quarterly payments through ACH.
  • Virtual Terminal With ACH. For many Startups as well as bad credit merchants getting a credit Card Virtual terminal can be extremely difficult. Merchants can get VT/Virtual terminal/Moto with ACH payment gateway.

WooCommerce Ach Payment

QuadraPay Now offers Woocommerce ACH Processing For WordPress Driven Sites.

Most eCommerce sites that use WooCommerce with WordPress require a ready to use a plugin that allows echeck and ACH transactions. Quadrapay is proud to announce tha it’s USA based acquiring partner provides ready to use ach plugins for WooCommerce sites. The integration process is straightforward. The merchant must upload the plugin to the site and enter the credentials to accept ACH transactions. This solution also comes with a virtual terminal.

Transaction Flow Of ACH On Woocommerce Platform

The process of making a transaction is simple. The customer selects the products on the merchant’s website and navigates to the checkout page. On the payment section, the customer selects ACH/Echeck option. In this section, the details that are needed are following.

  • Account Name
  • Account Number
  • Routing Number
  • Product information – The plugin directly pulls this.
  • Billing and Shipping address with zip code

The WooCommerce ACH plugin sends the information securely to the ach payment gateway for validation. The account number, routing number, and funds availability are validated in this step. Finally, the transaction is pushed to the ach network for processing. The processing company offers onetime and recurring payment facilities as well. This means merchants can also offer subscriptions to the buyers.

WooCoomerce ACH Integration Process

The zip file or the WooCommerce plugin file can be uploaded to the WordPress site via FTP or the wp-admin panel. The merchant can also try the zip file before switching to live mode. Merchants can also use other methods of payments with ACH. These options include Credit Card, Vouchers, Money transfers, EFT and EBT. Since our processing partner is entirely compliant with the industry requirements, merchants do not have to pay for the compliance charges.

Benefits Of Using ACH On Woocommerce Sites.

WordPress is the most popular CMS right now. And the most popular eCommerce addon for WordPress is Woocommerce. The module offers enormous flexibility and features. In a matter of a few days, new entrepreneurs can create an entire site with hundreds of products. Payment companies can not ignore this fact, and this is why we have a woocommerce ACH solution.

  • Easy Setup. The application process is easy in comparison to a credit card processing account. Most of the merchants quickly get approved, and we have seen applications going live in a matter of 1-3 days.
    Perfect For Hard To Place Merchants. Some accounts are challenging to place because of the bad credit of the high risk vertical. These accounts are manageable in most cases for ACH.
  • Subscriptions. With ACH, you can accept recurring billings. Most card processors will not approve subscription accounts as they consider it risky.
  • High Ticket Size. Lage merchants always have preferred alternatives to card processing. Big B2B transactions are normally done via bank transfer. Midsize transactions are perfect for ACH.
  • Effective Fraud Control. The transaction data is validated multiple times and is cross-checked in a national database to identify bad accounts. This results in fewer returns and disputes.
  • Merchant Dashboard. A highly advanced merchant dashboard helps businesses keep track of transactions and cash flow.

ACH Payment Processing For Airlines

The airline industry has recently started adopting alternative modes of payment. One of the most popular alternative ways of sending and receiving payments in the United States of America is ACH, also known as Automated Clearing House. Quadrapay is proud to announce that its USA based processing partners now offer highly reliable ACH payment gateways to Airline companies of almost any size. These solutions can be used effectively by large Airlines as well as smaller Chartered plane operators. Echecks is also used by travel operators, travel agents and sightseeing companies. Other related verticals like vacation rentals, hotels, motels and timeshare companies can also use this alternative mode of payment.

Charges And Fees Associated With Airline ACH Processing.

The processing company usually charges a per-transaction fee. This is known as the merchant discount rate. Since checking the integrity of transaction information is vital, that is why the ACH processing company may also charge a check validation fee. The processing company may also implement a monthly maintenance fee. Most of the times, our ACH solution providers do not charge any setup or annual fee.

On a case-by-case basis, our USA and EU based Credit Card processing partners also offer reliable merchant account solutions to similar businesses. The application process for securing this account is straightforward. The initial step is sending your basic information to the processing company through us. For this we will only require your name, email address, website and phone number. The processing company will analyse your website for pre-approval. If it fits into their expectations, then you will be asked to complete a detailed merchant account application form. With the application form, you will also send your KYC documents. This may include any travel industry-related certification your company may have. After the underwriting process, the acquiring institution will send you the rates and terms for your travel and Airlines merchant account. At this time you’ll have to look at all the terms and clauses mentioned in the Merchant account agreement. In case if you need any modification then you can certainly approach the processor to re look into the agreement. After signing the agreement, you get access to the gateway.

ACH For Bankruptcy Lawyers

ACH and Echeck can be used effectively by bankruptcy lawyers across many states of the US. Quadrapay is happy to introduce itself as an Independent sales contractor of well-known ach payment processing companies. We work directly with these providers. Our objective is to help bankruptcy lawyers and other law firms secure cost-effective payment processing solutions.

ACH For Law Firms The Advantage

  • Reoccurring Payments For Bankruptcy Lawyers in the USA. Lawyers and legal professionals may require to charge from clients on a one-time basis or reoccurring basis. Unfortunately, many Credit Card processing companies do not support reoccurring payments, especially for this industry. The solution to the problem is echeck. With an electronic check, you can easily accept reoccurring payments on a monthly or quarterly basis.
  • High Ticket ACH Transaction For Legal Services. Credit risk is a big challenge for the payment industry, and some processors may try to limit the maximum ticket size. If we look at the way the legal industry works then we can realise that the average ticket size is usually higher then most of the general businesses and industries. An electronic cheque can support high ticket size transaction as well. Your clients can make high ticket payments to you at one time or also on a reoccurring basis.
  • Fully PCI Compliant Solution. We are happy to let you know that our processing partners comply with the payment industry guidelines and regulations. This can be verified on their website. Quadrapay will be happy to get you connected with these processing partners.

ACH Processing For Small Business

Small businesses are the backbone of any economy. No matter whether we talk about the United States, European Union, Asia or any other part of the world. Small businesses contribute as a more substantial portion to the national economy. Traditionally small firms have accepted payments in the form of cash. As the world is moving towards cashless transactions most of the small businesses have started adopting newer methods of payment modes.

ACH For USA And International Small Businesses.

Businesses can accept payments directly from customers bank account by using ACH payment processing. To get this solution the small business must register with third-party ACH payment processing company. These third-party ACH payment processing companies request small business to send documents as well as merchant account application. These documents include the KYC documents like

  • Business license
  • Utility bill
  • National ID
  • The address proof of the directors
  • Cancel cheque of the business bank account
  • Business plan
  • URL of the website

Once the small business sends these details to the ACH payment processing company, then the underwriting team evaluates the application and identifies the risk profile. Most of the times for small businesses third party payment processing companies can quickly approve the applications. Sometimes applications may get declined if the risk profile of the small business is bad. This is the time when merchants need solutions from high risk processing banks. With ACH payment processing small businesses can accept transaction over the website and also over the phone. They can take orders over the phone because ACH comes with the virtual terminal. There are multiple features of ACH payment processing. Many features can be used by implementing ach payment processing api on merchants website. Simple features include sending responses to the merchant and buyer. Small businesses usually pay a lesser transaction fee in comparison to credit card processing. ACH approvals are faster than credit card processing. Many industries are almost on the verge of getting banned by card schemes because of high Chargeback to sales ratio. These industries are able to fight the challenge by using ACH and echeck solution. By far echeck has been the best payment gateway for tech support industry. Apart from Tech support, ACH is widely used in other industries like.

  • Precious Stones and Gems
  • Expensive watches
  • Water Filters
  • Cruises and Charter Flights
  • Crypto Currency
  • Travel
  • Spa
  • Massage Parlours
  • Escort Listing Websites
  • Adult Industry
  • Fantasy Sports.
  • Chat Lines
  • Online Casino
  • Poker Sites
  • Online Pharmacies
  • Kratom

Most of the time ACH payment processing companies offer solutions to merchants with bad credit. Merchants who are terminated for credit card processing or are listed as TMF merchants can also get ACH payment processing options.

ACH Merchant Processing for Small Business -Application Process.

These days small enterprises also sell product and services online. If the small business has a website, then it needs a credit card merchant account. To get a credit card merchant account for your small business, you will have to send an application to a Credit card payment processing company or an acquiring bank. The application process is almost similar as mentioned above for ACH payment processing.

Features of Online ACH Payment Gateway Small Business.

Online merchant account for small business generally come with API integration that means a merchant can connect the payment gateway to the business websites. Some Payment processing companies offer readymade plugins that can be used by the merchant to integrate the solution quickly. Customers can soon make payments by using their favorite credit and debit cards. Sometimes these gateways can also accept the prepaid debit card and gift cards. The rate of the transaction(MDR) is usually decided on the case by case basis. Credit card processing companies or merchant account acquirers look closely at the creditworthiness, recognition of the small business and the profit and loss statement.

Factors That May Help You In Getting A Reliable ACH & Credit Card Merchant Account Processing Solution For Your Small Business.

When you apply for a credit card merchant account or an ACH payment processing for your small business, you must look at these factors.

  • The reputation of the processor: There are thousands of websites on the Internet offering credit card payment processing solutions. Out of these thousands of website, not every site is owned by an acquiring institution. Resellers like us own many websites. It is always a grand strategy to approach the acquiring institution directly so that you get their rates. The more parties you involved in your application process, the more money you will be paying. Now we have discussed the reputation of the processor and why you must approach the acquiring institution directly. Let’s look at the second factor.
  • Transaction fee: The transaction fee also varies depending upon processor to processor. As a small business, your priority should be to get a reliable and effective solution with the lowest transaction fees. This can be easily achieved when you compare the pricing of different processors. Once you get the pricing from multiple payment processing companies, then you will be in the better position to evaluate the best solution for your business.
  • Billing and Technical Support: The third and the most critical factor is the support. You should work with the payment processing company that offers 24/7 support. The payment processing company that provides maximum support channels including support by phone, support by email and support by chat is probably the best solution for you. You are running a small business you would be interested in getting support 24/7. You are not interested in losing transaction just because your online payment gateway or card terminal is not working. Getting reliable support at the right time helps every business to succeed. For your small business if you’re looking forward to getting an ACH payment processing or a USA echeck payment processing or if you are interested in getting a credit card merchant account for online payment or retail payment. We will request you to send us an email. Our team will try to identify the best possible solution and send these recommendations to you.

If you want, we can also get pre-approval for you. If we get a pre-approval from the Credit Card processing company then the chances of you getting approved increases. For pre-approval, you do not have to send all the documents. All we need is the URL of your small business so that we can address this to the payment processing company. The payment processing company will look at the website and will identify if this business model may be supported or not. If we get yes for the pre-approval, then we move to the steps two, sending the documents of your small business to the merchant account processing company.

ACH For Gym Payments. Fitness Studio Payment Solution

Low Cost ACH Payments For USA Based Gymnasium And fitness Centers.

The fitness industry caters to the health routine requirements of millions of people across the world. Small, Medium and Large fitness centers are there in almost every city of the USA. Fitness centers and gyms across the United States of America can use ACH as a reliable mode of payment processing. Quadrapay is happy to announce that now through one of its payment processing partners in the United States of America gyms can easily accept payments for membership and monthly fees. In this detailed article, we will let you know how gym, fitness centers, martial art dojo, and yoga studios can easily accept payments online by using the services of electronic check processing companies.

Can ACH Work For Gym And Yoga Studios?

Yes! Just like small business ach processing we also have Gym ACH Payment Processing.

Today more and more gyms have started using ACH as an active mode of payment acceptance. There are multiple reasons for choosing this modern payment solution. Advanced ACH Solutions offer features like API and virtual terminal. Gym and Yoga studio owners can easily accept payments over the phone as well as on websites. Fitness centers and martial art studios can also accept recurring payments.

High Monthly Sales Limit With ACH For Fitness Centre.

Most credit card processing companies in the United States of America will cap your monthly sales volume at $ 25,000. It is the key reason why many businesses like yours are switching over to ACH.

How To Get ACH Account For Gym And Fitness Studio Payments.

We have made it very simple. All you have to do is send an email on [email protected] We will evaluate your website and get back to you as soon as possible with solutions that will work excellent for you. Send us an inquiry and a fitness payment expert will respond to your payment query.

Instant ACH Processing

Instant ACH Processing Saves Time and Money. To maximize the earnings and progress the number of clients, you are required to keep the most profitable business prepared for the company. This involves the payment system or payment methods as well. The credit card has transformed the payment processing commerce, and the protection and advantages given by the account service providers have prompted the users to use those services.

For the merchant, one of the best, famous and advantageous payment processing services is the ACH payments. This section will assist a merchant in understanding why and how instant ach processing saves money and a lot of time. You can also reach Quadrapay and talk to our expert to assist you in getting the best merchant services.

The ACH stands for the Automated Clearing House, which is an electric model of the payment system. It is an automated electronic payments channel for the business fund’s transaction in the United States. The ach transfers are used for the extensive operation of funds that are ach credit or ach debit. Also, the frequent use of ACH is loan repayment, mortgage, direct deposit of payroll, and online bill payment.

Instant ACH processing is a payment method that utilizes the electric mode, which performs it quick and effective.
It originates simply for the merchant to control and execute the business transactions. For quickly processing the transaction, the Credit card payments are further advanced to the merchant account by ACH. This system is confirmed to be the most protected business process for both customers and merchants.

How does Quadrapay instant ACH Payment Processing Save Time?

The instant ACH processing payment is determined to be faster and more reliable than other modes of payment. That’s because, when we use an instant ACH processing method, that transaction is initiated by a provided unique routing number. The funds are then withdrawn from the client’s bank account and settled towards the merchant’s bank account.

Usually, the standard ACH takes around 2-3 operational business days to settle from the client’s bank account to the merchant bank account. Instant ach payment processing is also available for the merchants to settle the funds at a very faster rate. Also, the whole processing system is simple, fast and reliable that is tempting for numerous merchants. It is slightly like a paper check method, but this processes faster.

How does instant ACH Processing Save Money?

We know that instant ACH processing saves time. It also conserves a large lump of funds as well. While using credit cards for payment, the merchant possesses to spend a fixed transaction charge to the credit card processor to utilize their credit card services. There are no such fixed transaction charges on ACH payment processing because this activity is performed between the customer and the merchant.

ACH FAQ
  • Isn’t It Better To Switch To Accept ACH Payments?
    • Every business owner wants to use a payment method which should be convenient, simple to process, and the essential thing is time saving. Rather than using ordinary payment options like debit card payments and credit card payments, nowadays, the business started to accept ach payments which are an electronic payment method. That is passed through a big ach network of several financial institutions and banks, known as an automatic clearing house.The best part of ach debits is that it allows a customer to make payments like high risk ach processing electronically even if the customer didn’t have any credit card for fulfilling the transactions.Ach payment method allows the customer to ach transfer funds directly from the bank account towards the business merchant’s bank checking account.If you do a regular fixed amount of funds transfers like a loan EMI payment or any utility bill payments. You can easily schedule the payments which will automatically get deducted in the regular interval of time as per the mortgage payment schedule.
  • Why Business Merchants Prefer To Accept Ach Payments
    • Simple to process: If we compare easy ach payments with regular paper check payments, they tend to take a hell lot of time to get processed with a very chain of the process for authentication. They are very difficult to maintain the record of check payments, and there are chances of the paper checks getting lost. But in the case when a merchant accepts ach payment, they get transferred electronically, and thus it reflects quickly into the receiver bank account. Therefore, this makes it a more reliable method for payments.
    • Accessible To Transfer Payments: With the help of ach payments, a business can easily accept payments through its customers and business to business ach from any part of the country with the help of domestic ach payment in real time with instant ach payment settlement. There is no need to take credit card information from your customers regularly so no issue of any sensitive credit card pieces of information scams or frauds.
    • Low Processing Fees: When a business accepts the credit card payments for their business products and services, they need to pay a processing fee for the transaction towards the processor with monthly fee charges. But in the case when a business merchant accepts ach payments for the services and products being sold online, if a business merchant agrees with a lot of payments through ach payments, this can help you to save a lot of money just by accepting payments through a seamless method of payment like ach.
  • Benefits For The Consumers To Pay Through The Ach Payment Method
    • Automatic payment: If you have to pay regularly for the mortgages or utility bills, you can select ach payment method to pay so that you don’t need to check for the deadlines because of scheduled autopay instructions for the payment.
    • Seamless Payment Method: A third party ach processor helps a customer to use an electronic method of payment so that it gets settled quickly into the receiver’s bank account. Rather than writing the paper checks and then mailing it to the business merchant.
  • Is ACH Payment Services Fit For Your Business
    • There has been an everlasting increment in the ACH payments since the last few years. It shows an increase of 7.7% over 2018 with 24.7 billion payments on the ACH Network and the value of those payments was $55.8 trillion, up nearly 9% from 2018 as reported by NACHA. In 2019 as the annual growth rate attained a 12-year high which marked 2019 as the remarkable year for the ACH Payment Services. So why should any business lag behind to take ACH Payment Services? Give a boost to your business by opting the ACH payment processing Solution. Apply today with Quadrapay and let your business accept ACH payments without any hassle. Stay connected with us to know how it could benefit your business? We will also discuss the newer version of ACH payments that helps you to accept and settle funds on the same day.
  • What Is An ACH Payment And Types?
    • ACH(Automated clearing house) is an electronic payment processing service in the US. It connects all the financial institutes and banks with an ACH network through which the payment gets processed. The ACH transaction can process both credit and debit card transactions. The ACH network is regulated by a governing entity known as NACHA(National Automated Clearing House Association).
      If we talk about types of ACH payments, there are two:

      • ACH Credit: The ACH credit is a type of ACH transaction when the customer pays the fund to the merchant. It can also be said that the customer pushed the fund into the merchant bank account or he authorizes the financial institution to send money from its account to the merchant account.
      • ACH Debit: An ACH debit is a type of ACH transaction when the customer gives permission to the merchant to take payment from his account. It can also be said that the merchant pulls the fund from the customer account with his permission or the customer authorizes the merchant to withdraw money from his account.ACh debit is usually used for recurring payments.
  • Difference Between ACH Transaction And Credit/Debit Card Transaction
    • Though both the payment processing helps the merchant to accept payments online, however, they get processed through a different network. The credit /debit card transaction gets processed through the credit network of the issuing card and ACH transaction are processed through an ACH network. Apart from this, an ACH can process various forms of payment through its network like a check, eCheck or recurring billing payments. The ACH transaction fees are very low than that of credit card processing solutions. But the transaction made through credit card is somewhere guaranteed funds, but the transaction made through ACH is not guaranteed because ACH transaction just requests for funds while in the credit card transaction, the customer borrowed money from the credit card issuing bank.
  • Why Should A Merchant Choose ACH Payment Services?
    • Seamless Integration
    • Competitive rates
    • Ideal for recurring billing.
    • End-to-end Encryption
    • No credit card expired issue
    • 24×7 Support
  • What are The Benefits Of ACH payment Services?
    • Easy Subscription Service/ Recurring billing: Unlike a traditional check, ACH has the capabilities to split the bill into an instalment or as a subscription plan for your gym or video streaming sites.
      Virtual Terminal Processing or MOTO Business: Mail Order Telephone Order business or in simple, the business who accepts payment over the phone finds ACH is an excellent way to accept payment. A merchant can accept ACH payments through the virtual terminal.
    • Customer Convenience: ACH is very convenient to customers as this eliminates the use of the check. They don’t have to write checks all the time, and it may be even worse when a customer runs out of their cheque book.
    • Suitable for High-risk Industries: The businesses who flagged as high-risk face challenges when applying for merchant services. Most of the processors reject their application. But an ACH payment service can be the best alternative payment method to accept credit/debit card transactions online.
    • B2B Payment Processing: B2B or business to business payment transfer is not so easy until the introduction of ACH. Formally, businesses deal with checks but the introduction of ACH in 1972 and operated by Federal Reserve Bank of San Francisco. According to NACHA, 45% of the payments in B2B industries is being done by ACH
    • Invoicing And Reporting Functionality: Once the payment gets processed, an invoice is generated which automatically sent to the customer
    • Fewer Disputes: As compared to the credit/debit card transaction, ACH payments have fewer disputes.
      Security Adherence: The transactions are secured and follow PCI-DSS standards. The transactional data gets encrypted through tokenization to keep you secure.
    • Affordable Price: ACH transaction is much cheaper as compared with Credit card processing.
      Environment Friendly: The ACH payment processing is causing the check system to disappear.
  • What Is Same-day ACH?
    • In the USA 90% of the funds are transferred through ACH. The ACH payment Services is considered as the backbone of the US payment system. Since ACH was created in 1972, the NACHA, the governing body of ACH payments continually tried to improve the payment system that is able to process the transaction fastly. The same day is the result of their effort that was introduced in 2015.
      There are two additional windows to submit the same-day ACH file provided by ACH operators.A morning submission time limits at 10:30 AM ET, with settlement occurring at 1:00 PM.
      An afternoon submission time limits at 2:45 PM ET, with settlement occurring at 5:00 PM.
      Both types of ACH payments are eligible for same-day ACH. But high volume transactions above $25,000 or international transactions are not eligible for same-day ACH.
      The implementation effort to acclimate the businesses and financial institution towards the faster processing environment had become effective over three phases.Phase 1 had become effective on September 23, 2016;
      Phase 2 had become effective on September 15, 2017;
      Phase 3 had become effective on March 16, 2018
      You can read more about it at NACHA’s official documentation
  • How Long Does It Take To Process ACH Payments?
    • Until some time ago, ACH payments used to take a lot of time to settle. The settlement time can vary between 3-7 days or even more. But nothing like that today. The gap in settlement time has decreased a lot in the last few years. With the NACHA’s continued effort to acclimate the businesses and financial institution towards the faster processing system has reduced the gap into a one-day settlement. Yes! You heard it right. With the introduction of same-day ACH, the funds will be available to you on the same day, either it is ACH credit or ACH debit.
  • The Ultimate Guide On ACH Debit For Business
    • ACH payments are secure, fast and convenient means of payment processing. ACH payments have shown an everlasting increment since the last few years and merchants are opting the ACH processing solution to gain an edge over the competitive market. ACH credit or ACH debit for business is an excellent option for merchants to diversify their payment solution. We at Quadrapay offers merchants an array of merchant services such as eCheck. ACH, Credit card Processing, Prepaid cards and more. It let merchants accept payments hassle-free. Moreover, in this article, we will talk about ACH debit for business and how it is different from ACH credit. We will also talk about ACH payment status that every merchant should know, so stay tuned!
  • What Are ACH Payments
    • An ACH payment is a type of Electronic Fund Transfer(EFT) and is the widely used payment instrument in the USA. ACH(Automated clearing House ) is an electronic payment method that helps businesses to receive payments directly from the customer’s checking account. The ACH payments are usually processed in batches through Automated Clearing House Network. The beauty of ACH payments is that it can be processed as a Lump-sum amount as well as recurring billing schedule. The fees or transactional charges to accept ACH payments are far lower than that of credit/debit card processing.
  • How ACH Debit And ACH Credit Different?
    • Merchants can accept ACH payments in two different ways, or we can say that ACH processing is of two types, i.e. ACH Debit or ACH Credit.
      • ACH Debit: ACH debit is a type of ACH payment in which the customer gives permission to the merchant to pull out funds from his account. The authorizes the transaction, and funds get transferred from his checking account to the merchant’s bank account. ACH debit is usually used by merchants who offer recurring billing features or subscription-based payments. For example, utility bill payment, GYM Membership payment, weekly magazine, mortgages, insurance premiums are few of the examples of the ACH debit for business.
      • ACH Credit: ACH credit is a type of ACH transaction in which a customer makes a payment to the merchant. It means a merchant does not request for the funds or pulls the fund from the customer’s account. A customer itself pushed the funds into the merchant account. ACH credit is usually used for the lump-sum payment or a one-time payment.
  • How ACH Debit For Business Help To Thrive?
    • Subscription or Recurring Payments: Most of the merchants opt for an ACH Debit For their business just for the sake of subscription-based payments. It helps the merchants to split the bills into instalments. It helps the merchants to accept payments on time, and it is convenient for merchants also.
    • B2B payments: ACH or eCheck is the widely used payment methods for Business-to-Business transactions. As per the report of NACHA, a governing body of ACH network reported that more than 45% of the payments in B2B are done by ACH payment method.
    • High-Risk Merchants Are Supported: The challenge among the merchants from high-risk industries is getting a payment processing solution. ACH payments processing is easy to get and suitable for high-risk merchants.
    • Virtual Terminal To Accept ACH Payments: Virtual Terminal is an easy way to accept ACH debit payments. Merchants fill in the customer’s details into the terminal and set-up the recurring billing cycle. It helps merchants to get paid on time.
  • How Does A merchant Get ACH Debit For Business?
    • To Start accepting ACH credit as well as ACH debit for business, a merchant needs to set up an ACH processing account with an ACH processor. Finding one of the best ACH processors can be tricky, but we at Quadrapay can help you with this. Follow the simple four-step:
      • Fill the pre-application form available on our site.
      • Get ready with your thriving business idea.
      • Have all your documents ready.
      • Enjoy smooth onboarding.
  • Every Merchant Should Know About ACH Transaction/Payment status.
    • Pending/Originating: The ACH payment has been initiated, but has not moved yet.
    • Originated: Transaction is in the process but has not settled yet.
    • Declined: transaction error or transaction not approved.
    • Voided: Voided means that money will not be moved or settled
    • Settled: Transaction successfully completed and settled.
    • Charged Back: the reason could be insufficient account balance or suspended account.
  • What Does ACH Credit Or ACH Debit Mean?
    ACH payments for business can be accepted in two ways. This includes the process of ACH Debit and ACH Credit.

    • ACH Credit: ACH credit is a type of payment transaction in which the customer initiates the payment to the customer. The means a business merchant does not request for the transaction to the customer. A customer pushes the funds to the business merchant acquiring bank account by himself.
    • ACH Debit: ACH debit is a type of ACH payment for business in which the customers grant permission on the request of payment from the merchant. After successfully completing the process of authorization, the funds get debited from the customer’s bank account, and the same gets credited in the business merchant’s bank account. This method of ACH debit is mostly used in regular subscription-based payments. Some of the examples of recurring billing are as follows: Utility Bill, Gym membership payments, Music/Movie platform subscription, Weekly magazine, Mortgages and Insurance Premium.
  • How ACH Payments For Business Helps Them To Grow?
    • There are a lot of benefits associated with ACH payments for business. Some of the significant features of ach payments are as follows:
      • High-Risk Business Category Support: There are a lot of payment processing methods available in the market. But in order to get the solution, a merchant needs to go through a lot of procedures. This might even get rejected in case of credit card payment processing. Also, in this case, a business merchant can smoothly go with the ACH payments for business to accept payments from customers under the high-risk business category.
      • Recurring Billing Or Subscription Based Payments: This is one of the features that attract a lot of customers and business merchants to accept ACH payments for business. Subscription-based payments help a customer to quickly pay for the products and services purchased in a split amount for a fixed tenure. This also brings a lot of extra benefits to business sales. It attracts a lot more potential for a customer to purchase goods from your business. It also helps a business merchant to get the payment at the right time. It provides the convenience of payment to both; the customer and the business merchant.
      • Business To Business Transactions: In the back time, paper checks were mostly used for payments between business to business payment solutions and are still being used until now. But as time passes and advancements in payment methods. Businesses now prefer to pay using Echecks and ACH to retrieve and transfer the funds between two businesses. This provides a simple and straightforward payment processing experience. There is also a proper track of all the transactions in bank statements.
      • Virtual Terminal Support: A virtual terminal is an application or software which enables a business merchant to efficiently provide the details of the customers to the payment processor for initiating the transaction. This also makes it easier for a business owner for starting the recurring billing service.
  • How Long Does ACH Transfer Take?
    • ACH transfers make it better for everyone to transfer the money from one part to the other. The period of time for an ACH move to be finished will rely upon a few variables. To start with, each monetary foundation will ordinarily handle an ACH instalment in clusters. Accordingly, if your bank submits just one clump of Entries by the day’s end, at that point your ACH move is postponed as of now by one day. ACH transfer exchanges with payment processors associated with Quadrapay are isolated into three classifications: an ACH withdrawal that is sent with the help of an ACH Network, and ACH Credit which is also sent through the ACH Network, and an ACH withdrawal from a processor’s record to a private getting account. It also depends if you have an ACH Debit or Credit account because both of them have different timelines set.
  • ACH What Does It Stand For?
    • ACH transfer is called the bank to bank transfer which helps the money to travel from one bank to the other, mostly what is based in the US. It is called the Automated Clearing house transfer which ensures that all the bank to bank transfer is done without any issue, and when the sender is sending the transfer to the recipient bank, then the recipient gets the amount on the real-time basis. With the help of ACH transfers, the recipient can receive the money as soon as the sender sends.
  • After Underwriting How Long Does It Take To Activate ACH Merchant Account?
    • There is 99% of the chance that when the underwriting for ACH is asked to close then, it will take the bank around 1-2 days for the complete process to go by. It depends on the network of the bank and how the underwriting process is being asked to be closed by the bank account owner. When the settlement is going on, there is a hold on the ACH Debit processing. The ACH Debit processing needs the same level of business verification, and once the receiver is asked to send the verification details in about 1-2 banking days, then the process is later resumed.
  • Are ACH Payments Safe?
    • ACH payments are called safe and secured for a lot of reasons. A lot of merchants and exporters have taken to the platform and have chosen the system of pay. ACH payments bring a level of trust for a number of reasons. The interbank system is done specially for wire transfers and etc. It helps the money to be sent from the sender’s account to the recipient account on a real-time basis. So on the basis of how ACH payments are really secured, all the payment processing units in today’s world have a risk of their own. This is how they do manage. ACH is no different, but it helps you to transfer the money safely from one account to the other.
  • What does ACH stand for on a concert ticket?
    • Merchants selling Concert Tickets have been using credit card merchant account since a long time now. Recently many merchants have switched to same day ACH solution. With this robust ACH payment method merchants get the funds in 24 hours. So when you see ACH on a Concert ticket it may mean that mode of payment has probably been ACH
  • What Is ACH Debt Collection Account
    • The US Debt Collection Industry faces a consistent problem when merchants look for card processing solutions. Debt collection merchants with excellent history and long standing banking relations ship may get accounts easily however many still struggle. So what exactly is ACH Debit Collection Account. This is a special ACH merchant account solution to collect Debt payments. This solution is used by collection agencies in the USA. There are various advantages of using ach debt collection account.
      • High Risk ACH Processing Companies Are Debt Collection Sector Friendly. That is correct. Quadrapay partners that offer ACH processing services in USA are comfortable in evaluating Debt Collect ACH merchant account applications. These providers have experience in assisting large debt collection agencies with there ach processing requirements.
      • Easy Cash Flow With Debt Collection ACH. The typical hold on high risk card account for debt collection merchants is 1-2 weeks. However with ACH qualifying merchants that process in high volume may even get 72 hours settlements in some case. This fast settlement cycle can help merchants efficiently use the cash flow.
      • Reoccurring Payments For Debt Settlements. This industry has a specific requirement of part or installment payments. our solutions come with the recurring or subscription payment facility. A larges debt collection invoice debtors in parts. This way debtors can pay in equal monthly instalments. At a specific date of each month money is debited from debtors account.
        VT MOTo For Phone Biling. Many Debt collection agencies have inbound call receiving setup With ACH VT agents can easily submit account number and routing number and processed for ach debits.
      • CRM API Connectivity. The providers that we work with offer highly productive ACH API. Skilled technology experts can easily create plugins and modules to easily connect with various CRMs and CMSs.
  • Are ACH Transfers Free?
    • At the point when you move cash starting with one ledger then onto the next, you’re doing what’s known as a programmed clearing house move, or ACH. In the event that you get an immediate store from your boss, that is additionally an ACH move. ACH moves are essentially less expensive than wire moves, which by and large expense somewhere in the range of few dollars per ACH move.
  • What Are Third Party ACH Processors.
    • Third Party ACH Processors By Quadrapay. Making Echeck Payments Super Easy
      So, you’re running a big business, and now you want to accept the payment through ACH, and will also pay to your employees, bill or vendors with ACH credit payments. QuadraPay will help you with this and will connect you with the best ACH service provider and Third Party ACH Processors. So, we will start with what ACH payment is? ACH payments are electronic payments made through the Automated Clearing House network, a protected system for clearing electronic payments between banks. Handled by NACHA (earlier the National Automated Clearing House Association), the method is a lot quicker than paper checks, which can never travel faster than the speed of mail. Now, you know about ACH payments and who handles them. So now, let’s talk about the third party ACH payment processing. And in this, we have three significant things.
    • Third Party ACH Processors And ACH Service Provider. A Third Party ACH Service Provider is an association that performs any functions on behalf of an Originator, Third Party Sender, Originating Depository Financial Institution (ODFI), or Receiving Depository Financial Institution (RDFI) similar to the processing of entries, including the creation or acting as a Sending or Receiving Point on behalf of a fund related organization.
    • Third Party Sender And Third Party Payment Processors. A Third Party Sender is a type of Third Party ACH Processors that behaves as a mediator in Transmitting Entries between an Originator and an ODFI, including through Direct Access, and acts in the absence of an Originator or another Third Party Sender. A Third Party Sender must have an Origination Agreement with the ODFI of the Entry. A Third Party Sender is never the Originator for Entries it transmits for the interest of another Organization. Still, a Third Party Sender of Entries may also be an Originator of different Entries in its very own right. Third-Parties in the ACH system is currently being analyzed because of the additional risk they pose to the ACH Network. The NACHA Operating Rules require Third Party Senders to conduct an annual ACH audit based on the appropriate sections of Appendix Eight.
    • Third Party-Payment Processors. Third Party-Payment Processors are bank customers that give payment-processing administrations to merchants and different business bodies. Generally, processors contracted basically with retailers that had physical areas to process the retailers’ transactions. These merchants transactions essentially included credit card payments but also capped automated clearing house (ACH) transactions, remotely created checks (RCC), and debit and prepaid cards exchanges. With the extension of the Internet, retail borders have been eliminated. Processors now provider administrations to a variety of merchant accounts, including traditional retail and Internet-based foundations, prepaid travel, telemarketers, and Internet gaming enterprises.
    • Third Party ACH processors Provides payment processing services to merchants and other businesses. These payment transaction types include credit card, debit and prepaid card, ACH, and remotely created checks transactions. What? Don’t know about final ACH audit? As a Third Party Sender, have you conducted your required annual ACH audit? QuadraPay offers advisory services to keep you in compliance by conducting annual ACH Audit and ACH Risk Review services to document potential strengthening of risk practices, policies and procedures. QuadraPay: Your New Friend For ACH Payment And Third Party Payment Processors Association You must be thinking about how your new friend “QuadraPay” will help you with this? It’s very simple; you need to fill the required and send it to us. Our well-trained will look to your application and analyze the risks associated with your business and based on your requirements, will provide you with the best possible processing service. We may require some documents to give the best results. Based on our understanding, you should attach the business plan with the papers, this will surely help you in getting the ACH merchant account.
  • What Is An ACH Payment?
    • ACH payment is an electronic mode of payment transfer. This mode of transfer was initiated in the 70s. In the 1980 lot of third party ACH payment processing companies started to try their hands in this industry. ACH transactions are a lot cheaper than credit or debit card transactions. The primary reason for the same is that the ACH processors do not have to spend money on the interchange cost. ACH or Automated Clearing House is a well-known term in the United States of America. Merchants from different industries can use it for receiving echeck payments. Customers get the flexibility to pay over the phone or over the internet. Most of the third party payment service providers offer easy to use interface to the merchants and the customers. Customers can swiftly initiate the ACH payment transaction by visiting the merchant’s website. Merchants who are running their business through Call Centres can also take advantage of ACH. A virtual terminal allows a merchant to submit the transaction information directly on the system after collecting the information over the phone. This has truly revolutionized the way payment processing works for high risk merchants. High Risk merchants face the biggest problem in getting a Credit Card processing solutions. ACH can be a wonderful replacement. Ach processing for small business has already established itself as a dominating payment mode among small size high risk merchants in USA. Since these businesses always face problems securing a card gateway they prefer to use ach. Most of the ACH payment processor does not charge any setup fees. They also happily onboard merchants from high risk industries. The merchant must have a registered company and a business bank account to accept payments from the ACH payment processing solution provider.
  • How Long Does It Take For An ACH Payment To Go Through?
    • The transaction flow in an ACH environment provided by a third party ACH payment processor is simple. Most of the ACH payment processor allows the merchants to integrate the ACH payment gateway on the sales website. With the gateway, they can easily process echecks online.The Customer initiates the transaction by filling the billing information that includes the billing address, name, email, phone number, account number, routing number, type of account and amount. After filling the form the customer clicks the submit button.This information is securely transferred to the gateway provided by the ACH payment processor. The system automatically checks the account number and routing number. After validating these two elements the system also verify the status of the account in terms of availability of funds to clear the specific transaction. This process confirms that the transaction is coming from a live account and the account has got sufficient balance to clear the transaction.Some ACH payment processors also perform a voice verification on each transaction. They call the customer to identify whether it is a genuine transaction or not. Once the processor gets the confirmation that the transaction is genuine and is approved by the customer then the transaction is sent to the bank for processing in batch. This batch processing happens once or twice a day.The moment the transaction reaches the ACH system that specific amount is placed on hold. This means that the amount will still appear in the payer’s account but will be not available for withdrawal.Once the ACH system completes the internal check and approval process then the funds are transferred to the account of the ACH payment processor. Based on the terms of service the ACH payment processor transfers the funds to the merchants business bank account after deducting the transaction rates and charges.Merchants can also use the virtual terminal or Moto panel that is offered by the payment service provider. With this virtual terminal, merchants can collect the billing information along with the account information and submit the same into the VT. The additional steps are the same as mentioned above.Merchants from high risk industries can certainly take massive advantage of the system. Primarily because most of the payment service providers and acquiring banks do not prefer to offer Credit Card payment solution to the merchant from high risk industries. Merchants that already on the match list or are considered as a terminated merchant can also take advantage of ACH or Echeck.
  • Is ACH The Same As Wire Transfer?
    • ACH and wire transfer are two different things. Most of the times, people confuse and consider these modes of transactions to be the same. Both modes are different and have various advantages and disadvantages.The wire transfer can be considered a faster mode of transaction. If you need to send the money to the recipient as soon as possible then you should certainly use wire transfer as a mode of transaction. Wire transfer is more expensive than ACH but it ensures faster delivery of money.On the other hand ACH is a cheaper solution but still, it may take up to 3 working days for the amount to be credited to the bank account of the merchant or recipient.Below mentioned a few advantages of wire transferWire transfer is a quick mode of payment transfer. The banks can charge a fee ranging from $10 to $40 depending on where you are sending the money and how much are you sending. Some of the banks may even charge more. So to get a specific value of the cost of wire transfer you should contact your bank.The recipient gets the money most of the times within 24 working hoursOnce the transfer is completed the sender cannot get the money back. As it is considered that the money has been sent by the sender after proper verification.
      Most of the times, the recipient may not have to send any information to the bank to accept the payment. Payments are most of the times automatically credited to the recipient’s bank account.Disadvantages of Wire TransferOnce the money is sent them the sender has hardly any option to reverse the transaction.
      Wire transfers are considered to be riskier than ACH
      Dating and Donation scammers use wire transfer to get money from innocent people.Advantages of ACH Payment ProcessingMerchants can collect subscription based payments on a monthly basis
      Most of the High Risk Merchants can use this solution
      Easy integration on the merchant’s sales website
      Third Party ACH Payment Service providers offer Virtual Terminal and Moto. With payments gateway for direct ACH transactions merchants can accept orders from US based customers.
      In most of the ACH transactions, the sender and receiver of the payments are located in the United States. So legal disputes can be handled easily.
      High risk merchants from specific Industries can take the advantage of Third Party ACH Payment Processors. This can be a great alternative to the conventional Credit or Debit Card Processing accounts.
      Merchants can accept ACH payment directly from the website and also over the phone. Merchants with big Call Centres can utilize the solution as most of the Credit Card processing companies do not offer solutions to Call Centres.
      Many companies from industries like online Dating, Peptides, Pharmacy, Adult use high risk ach merchant accounts.
      Some Disadvantages of ACH Payment ProcessingThe first disadvantage is the delay in payment. ACH payment processing is not as quick as a wire transfer. Payments can take up to 72 hours in most of the cases but in some cases, it may take even longer.
      Transactions forwarding to the ACH Network takes place in batches.
      The ACH processor collects the payment and then transfers the payment as per the terms of an agreement to the merchants business bank account. That means the merchant may have to wait for more to get paid.
      Most of the ACH payment processors to charge a monthly fee and also charge transaction fee.
      The receiver must ensure that he or she has got the confirmation from the send them about the payment.Customers may request the bank to reverse the transaction in case of any fraud or dispute. To do this customers have to submit substantial information to the bank so that the bank may initiate reversal. Reversals can only be initiated within a specific time frame.
  • Is There A Charge For ACH Payments?
    • A third party ACH payment service provider is a private entity that offers ACH processing facilities to Merchant. To keep the business running and to generate a profit the third party ACH payment processor charges the Merchant. The transaction rate for ACH is a lot less than that of Credit Card processing. There are multiple factors that play the key role in determining the transaction rates, some of the factors are the credit score of the business owner and the industry type. If the merchant’s credit score is bad or the industry is considered high risk, in that case, the ACH payment processing solutions can be a little bit expensive.The transaction rate can be as lower than 3% for most of the business type. Merchants from high risk industries may have to pay more in terms of the transaction rate and per item fee. This rate includes charges for services like checking the account number, routing number and availability of fund before processing the transaction. This also includes the cost of voice verification if applicable before processing the transaction.Most of the times the processors do not charge any setup fees. The Chargeback related issues can also reduce to a huge extent by using this option. Many merchants use ach as an alternative to high risk debit card processing.Merchants located outside the United States can also use ACH payment processing solution by utilizing the services offered by Third Party ACH processors.
  • How Does ACH Payment Processing Work?
    • ACH or Automated Clearing House network is a robust payment method used by merchants across the United States. We are proud of the partnership that helps us in providing reliable ACH payment processing solutions to our Merchants across the United States of America.ACH payment processing empowers transaction processing by utilizing the ACH network. With ACH the money can be credited or debited from checking and savings account. This solution is widely used all across the US ranging from East coast to West Coast.Financial Institutions have experienced a huge deduction in check processing cost by using ACH. These transactions are fast and are done electronically. Traditionally the paper check transactions used to take a lot of time but with eChecks and ACH most of the time the transactions are completed within 72 working hours. This has helped Financial Institutions to lower down the cost of operations and also increase the level of customer satisfaction.Since the last 30 years, banks have become very aggressive in terms of using ACH as a preferred mode of payment processing. The business community across the United States have also started to understand the benefits of an automated clearing house system.NACHA creates the guidelines and rules for the entire ACH processing system. Any entity involved in the ACH processing has to follow the guidelines of the National ACH Association.The merchant can use ACH facility directly from Bank and they can also go to a third party ACH processor. A third party ACH processor is a company that directly competes with ACH processing solution offered by banks.At this point in time, there are many third party ACH processors. The benefits of using a third party ACH processor is that they offer a highly user-friendly interface and also handle the risk by performing required verification of each transaction.The ACH payment processing is complex to understand but still will try to break it down into simple steps so that you can understand it better.There are multiple ways in which your customers can pay you by using ACH. They can visit your website and put in the account number, routing number and other basic billing details. They may also give this information by calling your support number. Merchants who offer subscription based services and want to collect payments can also use the service.Once the billing information is submitted by the customer, this information is verified by the ACH payment processor. The ACH payment processor system will validate the account number and routing number. The system will also validate the account for funds availability. Sometimes The ACH payment processor will also ensure that there is an agreement between the customer and the merchant. This agreement is mostly done in an electronic format and is maintained with the payment processor and merchant for records.Most of the service providers prefer to do a phone verification before sending the transactions to be processed. This additional verification step helps merchants in reducing the return ratio and also help them to reduce the insufficient fund related errors.Once the verification is done and approved by the internal team of ACH payment processor, the transaction is sent to the bank for batch processing. Once the ACH payment service provider receives the funds from the bank, then the processor sends the funds to the merchant business bank account after deducting the transaction charges or any other fees as per the merchant agreement.

      Merchant from high risk industries can also use ACH or Echeck as a preferred mode of payment. There is a unique advantage of ACH, that is the dispute period is lesser than the regular dispute period on any credit or debit card. Most of the credit card have a dispute period of minimum 180 days, but in ACH or echeck the dispute period is less than 60 days.

      Merchants facing a lot of Chargeback Disputes with Credit Card solutions can also try this solution. These Merchants are sometimes referred to be High Risk. ACH may take a bigger risk in terms of Returns.