In the United States, Automated Clearing House (ACH) refers to a secure electronic network where financial transactions are conducted between government offices, commercial establishments and private individuals using direct electronic transfers from a checking account. In layman’ s term, ACH is an electronic version of paper checks, and instead of issuing an actual paper check; you simply provide your checking account number to the vendor and it works the same way as paper checks do. The ACH network is controlled by the Federal Reserves, well 60% of the entire system, while the Electronic Payments Network is operating 40%; and it should be noted that these two depend on each other to accept transactions even if a particular transaction is not a customer of one. As we are moving forward in the digital age, most businesses, if not all, today rely mostly on a payment system that supports a full array of ecommerce platform or online activities to sell their products and services. More businesses are increasingly using the ACH payment systems, it’s more affordable to handle and process credit card transactions, where ACH will cost you 20 to 25 cents per transaction against 2.5% of the total transaction cost. To help your business set-up an ACH payment mechanism, there are several resources in the Internet to guide you in choosing the provider that best matches your need and requirement. Here are top 3 companies providing ACH solutions: International High Risk Merchant Services (hrmerchant), provides seamless integration with your existing infrastructure and gives you a competitive price quote against your current provider. ACH Direct (acrdirect) offers a complete solution to your ecommerce need; ACH Payment (ach-payments) guarantees a No Hassle Refund for all the fees you have paid in case you are not satisfied with their service.
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