ACH Processing Overview

ACH stands for Automated Clearing House and is an electronic payment network used by individuals, businesses, financial institutions and government agencies.

ACH Processing allows funds to be debited/credited to a company’s or individual’s bank account electronically. It simplifies the billing process for one-time payments or recurring billing.

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ACH Facts

The following facts show the rapid growth of organizations using the ACH product over the last two years.

- In Q3 of 2007, the ACH network volume increased by 11.7%

- 16 billion commercial (non-government) ACH transactions were performed in 2006

- ACH transaction dollars totaled $33.7 trillion in 2006

- Internet-initiated ACH payments (Web payments) grew to 1.8 billion in 2006, a 35%  increase from the previous year

- The number of direct deposits grew by 5.5% to 4.7 billion in 2006

- The total number of business-to-business ACH payments grew to 2.3 billion in 2006

Target Markets

ACH Processing is an excellent payment solution for businesses that provide ongoing service, have monthly/annual memberships or are e-commerce based, such as…
Medical Offices Law Offices Direct Sales / Network Marketing Insurance Companies Utility Companies Contractors / Landscaping Limousine / Logistic Services Schools / Day Care Centers Art Galleries Gyms / Sport Facilities Home Security Companies

How Does ACH Works?

The ACH network electronically moves money from one individual to another. The process is governed by NACHA, The National Automated Clearing House Association (www.nacha.org), which provides operating rules and business processes.




 

Merchant ACH Benefits

Accept payments via phone or Internet directly from your customers bank account Provide better customer service by offering an additional method to collect Save time invoicing and collecting payments Increase customer loyalty Obtain automatic payment receipts for any ACH transaction Eliminate duplicate data entry and additional trips to the bank

How To Use ACH?

Already located on the NMC Virtual Terminal (VT), ACH Processing is easy to setup for your merchants and allows them to process ACH payments along with credit cards, checks, gift and loyalty cards. Utilize a 24/7 comprehensive online reporting system for both agents and merchants.

The screenshot below shows ACH Processing Console inside NMC Virtual Terminal.

End Customer Benefits

Eliminate need to use checks and pay for postage Enable automated recurring billing from a bank account ACH is an easy payment solution for customers who don’t have a credit card Bills can be paid over the phone or online

Agent Benefits

Provide your merchants that use check processing or recurring billing with a comprehensive payment solution Create a new revenue stream with no maintenance Offer your merchants an easy to use NMC Virtual Terminal (VT) created to simplify ACH payments Already located on the Virtual Terminal, ACH Processing is easy to setup for your merchants and allows them to process ACH payments along with credit cards, checks, gift and loyalty cards Utilize a 24/7 comprehensive reporting system for both agents and merchants NMC Agent and Merchant Support Teams are standing by to assist

ACH Processing is an easy, profitable and beneficial product that will give your business an advantage in the business world.

To sign up, or for more information about our ACH Processing product, please contact National Merchant Center or your NMC Agent today and start saving time and money tomorrow!