High Risk ACH Merchant Account And Global Availability. A Short Analysis By Quadrapay.
It is an interesting question and the objective of this question to understand how high-risk ACH merchant account will perform for businesses across the globe in future. For high-risk ACH merchant account to work in every country, this solution should be accepted and implemented by all the governments around the world. Unfortunately, ACH merchant accounts are not available for businesses in all nations except the United States of America as per our limited understanding. We all know that the United States has been the front runner in adopting the latest innovations related to any domain. Businesses in the United States of America have experienced tremendous growth by utilizing multiple payment instruments including ACH and Echeck. As of now ACH is used by various other governments but is usually limited to the transactions between banks. In Canada EFT or electronic fund transfer as well as Interac payment is extremely popular which works pretty much on the same concept with few fundamental variations.
Credit Card processing companies, as well as credit card schemes, have seen various changes in the past. Some of these changes include moving from magnetic strip card to PIN-based cards, later to chip-based cards then to contactless cards and further to tokenization. All new modifications have added some cost to the principal. One cannot ignore the fact that these changes are actually for the benefit of merchants and the cardholders. If you compare the frequency of change in the Credit Card processing industry with ACH processing industry you will realize that the high-risk ach processing industry has not experienced so many changes. By using features like Check scrubbing, Voice verification, Internet bank verification these high risk ach processors can reduce return ratio to a considerable extent.
It is a bit premature to understand how ACH processing will grow in the future, but one cannot ignore the fact that it is undoubtedly one of the most dependable processing modes in the United States. The world follows the United States and its innovation in almost every domain, and we are hopeful that in coming years concept like electronic checks, check check21 and ACH will become more visible in other geographies including India, European Union, Australia and other parts of the world. We also want to say that this is our assumption and all depends upon the central banks and the lawmakers of specific countries in terms of implementing these easy methods of payment processing.