Why Use ACH? Organizations that use ACH can save 90 percent or more per transaction. And Americans made 6.7 billion internet-based ACH transactions in 2019, up 13.3% from 2018.
In this video you will learn how ACH payments benefit your organization.
One big benefit your organization can realize is how quickly you can get cash in hand. Since September 23, 2016 the ACH network here in the US has supported Same Day ACH. This means no more waiting 3 days or longer to get your money!
Your bank doesn’t let you do Same Day ACH? Hrrmm
Might be time for a new bank!
Another big benefit of ACH transactions is the cost per transaction compared with typical card processing rates for ecommerce transactions. Organizations that use ACH can save 90 percent! Sometimes more.
You might be saying to yourself “well I see the benefit for my organization, however I don’t think my customers are ready to pay using their bank account.”
Really? What gives you that impression?
For the year 2019 NACHA reported that Americans made 6.7 billion internet-based ACH transactions! That is up 13.3% from 2018! In financial system terms, that is HUGE. During that same time there were 4 billion B2B ACH transactions. Those 4 billion transactions represent 12% year over year growth.
This tells us that businesses are ready to use their bank accounts as payment sources and that they are ready to do this online!
ACH is faster, less expensive and your customers are ready to use it.
Start working on a strategy to make ACH a more prominent payment type in your organization today. It will make you more efficient, save you money and make your customers more satisfied.
Want to know more about Chargent! Please reach out to us today.
Check out our next video here!
As you know, at Chargent we are always here to help!