Leveraging ACH for High-Volume, Low-Cost Transactions
ACH—automated clearing house—payments process bank transfers at a cost much lower than credit card payments: typically 0.25−0.75 for a single transaction vs. 2.9% + $0.30. Predominant gateways Plaid and Dwolla are ACH masters, boasting several capabilities, such as micro-deposit verification and same-day settlement. Subscription models take advantage of its recurring billing features as failure rates of 30% lower than compromised cards. High-risk merchants like ACH’s chargeback insurance-disputes have to go between account holders and banks directly, not to card networks. Advanced ACH products offer post API connection pre-filling the routing/account number using a secure bank connection, dramatically reducing the number error in entry.
Optimizing ACH Payment Flows
Increase ACH success rates by verifying the account ahead using such services as Yodlee. Offer discounts on ACH payments (1-2% discount) to create an incentive for use as opposed to credit card payments; for SaaS applications, create gateway functionality such as Stripe’s ACH Debits that allows customers to approve recurring pulls through online banking login. Risk management is paramount therefore obligate the performance of velocity checks to cap daily/weekly advanced transfer values, as well as filter out suspicious activities such as a pattern of small deposits/withdrawals made in quick succession. Remember that NACHA regulations require ACH merchants to obtain written authorizations for recurring payments that can be accomplished electronically by integrating e-signature solutions into your payment gateway.
convergepay payment gateways shopify payments intuit payments payment platforms payment provider online payment processing companies online payment providers paypal express authnet gateway chase payment tech paypal checkout paypal express checkout payment portals cheapest payment processor stripe payment method fusebox elavon paypal pro authorizenet payement gateway mobile payment platforms payment provider online rayzorpay white label payment gateway stripe payment gateway online payment processors international payment gateway online payment gateway woocommerce payments virtual terminal credit card processing best payment gateway shopify payment gateway payment gateway for website white label payment processing ach payment processor merchant payment services square virtual terminal moneris gateway ecommerce payment gateway best payment gateway for small business square payment gateway ach payment gateway shopify payment methods payment gateway integration best ach processing companies paypal payment gateway nmi payment gateway skrill payment credit card payment gateway credit card processing service intuit payment solutions gateway credit card stripe ach payments gateway payment processing payment processing platforms gateway credit card processing credit card gateway stripe shopify bluesnap payment merchant gateway shopify payments fees ecommerce payment processors ach payment providers website payment system merchant provider wordpress payment gateway payment integration payment gateway companies payment page payment gateway services subscription payment gateway internet payment gateway merchant payment gateway payment gateway for international payments paypal gateway best shopify payment provider shopify installment payments secure payment gateway top payment gateways braintree gateway authorize net fees worldpay charges payment integration services bigcommerce payment gateways payment gateway charges paypal braintree shopify payment processing fees worldpay us virtual merchant xero stripe integration uspay gateway payment gateway solutions trust payments square online checkout largest payment processors credit card payment platforms shopify payment options best payment