We at Instabill think that ACH payments are underutilized and underrated. They may not be the top payment preference of every merchant, but an ACH transaction is a form of payment of which all merchants should take advantage, particularly those in the high risk merchant account space.
“ACH is a great thing for a merchant to have. I think all merchants should offer it,” said Wendy Jacques, Sales Manager at Instabill. “It is an important option to have especially when a credit or debit card transaction doesn’t go through. To be able to say ‘I can take an electronic check’ is a good thing. It keeps businesses’ doors open.”
We offer three reasons to accept ACH payments:
1. ACH Payments are Safe
Short for Automated Clearinghouse, ACH processing is as safe and direct as they get in the payments industry. When is the last time a story broke about a breach of an ACH network?
2. There are Good Things in Store
When I pay bills with an online check, it takes 2-3 days before they register and clear in my bank account. If most consumers are like me, I find this a little annoying especially in this day and age. Consumers like things done fast, like an accurate, up-to-date balance in a checking account.
So NACHA, the Electronic Payments Association, is doing something about it with same day ACH transfers. And kudos to them for staying relevant — for staying competitive — in the fast-moving payments landscape.
3. ACH is Cheaper than Processing Credit Cards
Instabill is a big fan of businesses that prefer to process credit card transactions — the majority of our merchant partners do. But ACH processing is an added payment option and costs less for businesses. True, merchants do pay a per-transaction fee and a discount rate with ACH — variable on industry type — but they do not pay interchange fees.
Instabill Merchants are Going to Love It
ACH processing is ideal for collections, payday lending and subscription-based industries — businesses for which Instabill has customized solutions. However, Instabill can also offer ACH payment solutions for tech support, credit repair and student loans.
“Those are domestic solutions we have that most people don’t know about,” added Ms. Jacques.
Get the conversation started with one of our merchant account managers at 1-800-318-2713, or select the live chat option below.