Accepting eCheck Payments Online Streamline Your Business Operations
Electronic check revolutionized the payment system and is a boon for businesses. It is a payment asset that is a replacement to traditional physical paper checks and helps merchants to get rid of cash payments. eCheck payments online come out to be one of the most adopted payment instruments that can fulfil the major needs of businesses. eCheck payments are like electronic funds transfer that gets processed through a network of financial institutions across the USA. If you are also a merchant looking to accept echeck payments online, Quadrapay can be your one-stop solution. We offer merchants with echeck processing solution at affordable transactional rates with 24×7 support assistance.
How Accepting eCheck Payment Online Help Your Business To Thrive?
Accepting echeck payments in your business transactions looks like you are more updated with business requirements and understand your customer’s expectations closely. Offering a diversified payment solution ease your customer. Providing a diversified payment solution will ease as well as please your customer. eCheck payments can bring several benefits to your business like you can accept payments at lower rates compared to credit card processing. There is no more hassle of paper checks and trips to banks for check clearance. Echeck payments can save much of the time and is safe, secure and convenient.
FAQ – eCheck Payments
Electronic Check Uses Which Network To Get Process?
eChecks uses the Automated Clearing House (ACH) network which is regulated or governed by NACHA as well as Reg E rules. National Automated Clearing House Association(NACHA) manages and governs the ACH network and connect all the United States Of America’s bank accounts. It facilitates the movement of money from one bank account to another that uses the ACH network.
Can A Merchant Accept Recurring eCheck Payments Online?
The beauty of echeck payments is that it allows the merchant to accept lump-sum as well as recurring payments. The recurring business model is very much attractive to customers. It also ensures the merchant to receive payments on time. A merchant can accept recurring payment by key-in the customer’s details into the virtual terminal. It can also be done either through email invoice or through a website where the customer itself fills the details and opt for recurring billing.
Can eChecks Payments Be Void?
Yes, online echeck payments can be voided, but the thing is that it should be done before funds settlement. A merchant has to stop the echeck payment before the transaction is batched and sent to the ACH network to get processed. In case a merchant fails to VOID a transaction, the payments get settled into the payee checking account.
What Is An eCheck Return?
eCheck return is un-settlement of funds. There could be many reasons for it likewise insufficient funds, account freeze or authorization revoked etc. This would have a bad impact on the merchant.
If you are looking for an echeck or ACH payment services for your business, we would be happy to assist you.
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