Who are ACHPay
ACHPay is an international payment services provider that offer ACH processing technologies and solutions.
We work directly with ODFI’s based within the US and US territories to offer full-service ACH processing services to US-based merchants in a variety of industries and sectors.
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What is ACH
Automated Clearing House (ACH) payments are a type of electronic funds transfer (EFT) that make sending funds between US bank accounts easier than traditional, paper-based methods, and typically at lower costs.
ACH payments are nothing new, having existed for over 40 years, and are facilitated over the Federal Reserve operated ACH network, a network that is governed by the National Automated Clearing House Association (NACHA) and their operating rules. These rules layout the means by which the clearing of interbank electronic payments work for depository financial institutions that participated in the network.
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ACH Processing Benefits
ACH processing offers a wide range of benefits to companies and their customers alike over other, traditional methods of payment such as paper-based checks, or credit/debit cards, both payment methods that are typically far more expensive to process than ACH payments.
Some of the main benefits of ACH processing include being both more likely to get paid, and to get paid faster, lower payment processing fees, and increased convenience for both companies and consumers alike.
In addition to these benefits, ACH processing can also help to increase your customer base, allowing you to include those consumers who would otherwise be unable to use your services, such as the 10 million US consumers who don’t have a credit card.
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ACH payments can mitigate risk of identity theft associated with paper-based checks, increasing security of customer payments.
ACH recurring payments require a once off authorization for all future recurring payments, making them more convenient for you and your customers.
Lower Transactional Costs
ACH payments typically have lower transactional costs compared to other payment methods, which can carry far higher processing fees.
Better Access to Funds
Unlike paper checks, which can take up to 5 business days to clear, ACH payments can make funds accessible and ready to use by account holders must faster.