ACH Integration Solutions allow developers and SaaS platforms to automate payment collection, disbursement and reconciliation. The ACH Payment Processing option allows for the utilization of an ACH API [Application Programming Interface], and the debiting/crediting of checking/savings accounts via the ACH network.
Paper checks are susceptible to fraudulence, and are too burdensome and expensive to handle for organizations and/or applications looking to accept payments from bank accounts. For applications providing payouts to businesses/affiliates, ACH Integration Solutions are a far more prudent option for handling ACH credits. ACH Integration Solutions provide more feasible methods for streamlining cash flow, and a dependable, affordable payment vehicle with API functionality adds value for your user base. This ultimately leads to more satisfied clients.
How long has your potential integration partner been serving ACH and CC payment solution the needs of app providers and what is their track record? Does the partner provide assistance in ACH payments processing adoption for you and your user clients? Will your potential partner take the time to understand your business requirements and provide options that custom fit the payments needs to your needs and your clients? Are there white label possibilities that might allow for a branded processing option, keeping the ACH processor behind the scene?
Consider the business above billing 500 clients. 75 or so decline resulting in revenue shortage of $7500/month or $90k per year. Sure effort [read $ costs] will be made to re bill but you can count on 2 things: 1-You are going to lose revenue and 2-You are going to lose customers you just could not collect from.
Contrast this with the ACH Payment Gateway world. How many times in the past five years have you changed bank account? And how many new credit cards? You can see why decline rates are much lower, typically averaging around 2%. 15% versus 2%—BIG reason why a low cost ACH Payment Processing option is MUST HAVE for recurring billers.
ACH Processing for Start Ups. We regularly field inquiries from start-ups as well as established businesses that believe they have an app that can become the next Venmo. Venmo allows person to person or P2P payments ACH Virtual Terminal. The startup wants to replicate the easy moving of money using an ACH Processing Solution. Many times we listen to the idea and say that is a great idea.
Why? - It has to with being classified as a Money Transmitter or Money Service Business. This type of business classification means governmental organization scrutiny and of course tremendous expense as well as time. We are talking potential years of time and millions of dollars. Most of these requirements center around money laundering (Info at FINCEN and FINRA ).
An ACH SMS Payment Gateway enhances what is a batch network and makes it more attractive to businesses and organizations that have ACH processing needs. If you require assistance in determining your best options for an ACH Payment Gateway, allow us to be of assistance. We at ACH Payments have been providing ACH solutions to businesses of all sizes for over 19 years.
Products on a subscription model tend to be something either ancillary to an associated product that keep them functioning or something not of significant value that might cause significant harm to the company’s bottom-line ACH And CC Payment Solution. Services can many times be paused or access can be denied until the customer makes their form of payment “right,” like restricting a subscription service.