The Leading Edge in Check Processing...
Until relatively recently, credit cards were the payment collection vehicle of choice for many direct marketers. But less than 60% of adults in the U.S. today possess valid credit cards.
Merchants who can close deals over the phone or the web with cardless customers can expand their potential customer pool by the 70 million Americans who use checkbooks, but not credit cards.Among these, there are 10 million households without credit cards that now have access to the Internet. In addition, some 13% of consumers who already make online purchases prefer to use their checking account. Moreover, providing a comprehensive EFT facility encourages both convenience and impulse buying - even for credit card holders with "maxed-out" cards, who can still pay by electronic check.
- The customer enjoys a simple and familiar purchasing process, providing checking account numbers instead of credit card numbers.
- The merchant receives the payment stream with the same ease and for less processing costs than credit card transactions.
Electronic Check Processing, also known as “ACH” or "Automated Clearing House" works using the “ABA” (also known as the Transit, or Bank Routing Number) and the Checking Account number just like a credit card. Click here to add ACH to your existing merchant account, or answer "YES" to the ACH question on your application form. ACH costs only $4.00 per month additional, there are NO percentage fees, and only a 30 cent per transaction charge! NOTE: DUE TO THE NATURE OF THIS TYPE OF TRANSACTION, STANDARD ACH IS NOT
RECOMMENDED FOR ACCEPTANCE ON WEB SITES.
