Many business owners are unaware of the financial advantages of collecting payments via ACH (E-Check) over credit cards. The truth is many payment processors don’t want you to know this fact so they can take more money out of your pocket. When you accept a credit card payment, such as Read more…
ACH or Automated Clearing House is one of the largest, safest, and most reliable type of payment collection forms. In fact, in 2019 ACH moved more than 24.7 billion electronic payments. Setting up ACH payments is a simple process that just involves you collecting your client’s banking data – accounting and routing number.
Accepting ACH transactions will help you to reduce the costs of heavy processing fees by as much as 75% compared to credit card fees. In addition to lower fees, you will find that accepting ACH transactions will help to reduce your time spent chasing down expired or declined credit cards. For those reasons, ACH has about a 10% greater success rate than credit cards. Therefore, by accepting ACH transactions you can maximize your collection rates, reduce processing fees, and help to increase your bottom line for your business.