ACH Payments(NACHA/NACH/Direct debit System)

This course covers Mandate management system and ACH payments.

This will also help you in understanding the payments processed by Paypal.

The  ACH (Automated Clearing House) Payment Service enables you to electronically collect payments from your customers for either single-entry or recurring payments by directly debiting your customer’s checking or saving accounts.

The most common uses of ACH are online bill payment, mortgage and loan repayment, and direct deposit of payroll. ACH payments are an efficient and cost-reducing alternative to paper checks and credit cards.

On the Internet, ACH is primarily used for person-to-person (P2P), business-to-customer (B2C), and business-to-business (B2B) payments.

Benefits of ACH Payments

Following are the benefits of ACH Payments

• Provide your customers with an alternative to credit cards and checks.

• Offer lower-cost payment than either checks or credit cards.

• Faster payments than using checks.