Today there are a number of payment options available to a merchant to offer their customers to pay the funds or the amount. And, this has surely made it difficult to decide which services to offer. Earlier paper checks were the only option available but now there is an array of payment processing services to choose from. The introduction of credit card payments has transformed the payment industry completely. It has several benefits and advantages for both the merchant as well as buyers. But, apart from this, as a merchant or a trader, you must also consider offering ACH payment processing to your customers.High risk ACH merchant accounts enable a customer or merchant to complete a payment when he is not able to pay through credit card transaction. ACH processing can benefit every industry and is considered a viable and secure solution for recurring payments.
Automated Clearing House (ACH) is an electronic form of payment solution which enables merchants to directly deduct payment or amount from customer’s bank account. Unlike credit card transactions, ACH saves money and time as there are no interchange fees involved. On addition to this, the customer and merchants do not need to exchange or share any document or check numbers.
ACH processing works as follows:
The customer provides pre-authorized permission for the merchant to process the check.
After this through a batch file transmission, a payment gateway the check is converted into an ACH transaction and is submitted to merchant’s payment processor.
The merchant’s check processor sends the ACH transaction to customer’s bank to debit the approved fund.
Usually, ACH processing takes 3-7 days to clear, but there are some changes being made which will help in same day clearance.
Now, as ACH processing provides a safe and secured payment recurring solutions. it offers few benefits too such as-
Unlike paper checks, it is a faster and hassle-free payment procedure.
It is one of the best cost-effective alternatives for e-commerce businesses and high risk businesses.
ACH processing enables for habitual recurring billing and payments.
ACH connects almost every small, big recognized bank and financial institutions.
Unlike credit cards and checks, ACHprocessing is proving to be the safest and reliable electronic payment system.
In addition to this, ACH payment processing is proving to be a great way of recurring payments for high-risk businesses including adult online sites, online gaming sites, etc. So, if you are looking for high risk merchant accounts and payments processing services then adding ACH payment processing can be a good choice for your business.