ACH is an overlooked banking tool by businesses.
Lower costs, streamlined operations and greater flexibility and convenience – these are just some of the ways ACH electronic payments can help your business. Businesses of all sizes and across a wide range of industries are increasingly making and receiving payments electronically using Automated Clearing House (ACH), also known as e-checks or electronic funds transfers (EFT). European Arab Investment Bank offers efficient Automated Clearing House (ACH) payment solutions.
Direct Deposit
Many businesses no longer issue paper payroll checks to their employees; instead they pay them electronically with direct deposit.
Electronic Debits & Credits
These are B2B payments to vendors and suppliers and B2C payments by consumers of recurring bills like their mortgage, insurance premiums, utility bills and club membership dues.
How can ACH Payment processing benefit your Business and your Customers
Businesses are accustomed to accepting payments three ways: check, cash, and card. Most businesses are overlooking the benefit of another option: ACH (Automated Clearing House) processing. This service allows you to debit your customers bank account directly for payment for your goods and or services. ACH payment, particularly same-day ACH, can be automated and made simpler from start to finish.
Lower Costs
While payment processing fees are considered the cost of doing business when thinking about scaling your business and your customer base, providing a payment option that reduces transaction costs matters significantly for growing revenue. The biggest benefits of ACH payment processing are the lower transaction fees compared to check and card processing. ACH payment transactions typically cost less than .25 per transaction.
Convenience
ACH payment processing options are a sure way to offer a more convenient way for your customers to pay. Because you and your customers want payments to settle faster, offering ACH payment could boost customer loyalty and increase customer retention. ACH is commonly used in direct deposits for payroll, recurring payments to service providers, such as utilities, as well as B2B (business-to-business) transactions.
Security
Beyond the potential of being cheaper, faster and more convenient, ACH payment processing transactions can give you (and your customers) peace of mind that transactions are secure. When customers make an ACH payment, it processes through a secure system that is encrypted, leaving your customer’s credentials protected — and your business’s profits safeguarded.
Is ACH Processing Right For You?
If you have recurring billing customers, operate a subscription-based business, accept a lot of paper checks, or process B2B transactions, you might want to consider accepting ACH payments. Contact us today and we can help you determine if ACH processing is right for you. Contact Chris Macarages at +447935213804 .
Exploring Payment Partnership Possibilities
European Arab Investment Bank understands the complexity of Third-Party Payment Processors (TPPP) and their value in the payments network. We have been processing for Third-Party Senders (TPS) since 2005 and continued to grow that business. We work collaboratively to understand your needs for a payment integration solution. To request more information about our payment partnership solutions contact Chris Macarages at +447935213804.
