Businesses looking to expand their payment receipt options to include virtual payments
will need to understand ACH processing. ACH processing drives all non-card electronic
payments over the phone or online.
What is ACH?
ACH stands for automated clearinghouse. It is the mechanism that transfers
payments electronically from consumer to merchant in exchange for goods
sold or services rendered. Any payment processing system that allows electronic
payments works through an automated clearinghouse, most likely one of the Federal
Reserve Banks.
Sage
Payment Solutions has convenient and secure products that enable your business
to handle ACH processing.
Sage
Virtual Check provides safe transfer of funds from the consumers checking
account to your
Sage
merchant account. This feature is available for both
Internet merchants and MO/TO merchants. Virtual Check is less expensive than
credit card processing and is ideal for membership businesses that use
a recurring payment system.
Sage
Collect Direct simplifies processing for payments by paper check and, in
some cases, credit cards. Merchants no longer need an external lockbox system for
collected check payments.
With Collect Direct, merchants get a distributed lockbox system, for any number
of collection sites, which delivers:
Faster check deposits and funds availability
Increased control of funds
NSF notification within 48 hours
Improved cash flow
Easy to use recurring billing
Reduced labor costs associated with check pick up and handling
Increased collection security and reduced risk of non-payment
