The ACH Network is an electronic payment processing platform through which monies and payment-related data flows. The network is a safe, secure, method for transferring consumer, business, and government payments. Billions of dollars are processed annually through ACH, including direct..
Electronic Checks Increase Sales for Online PharmaciesOnline pharmacies provide an important service to consumers that do not have health insurance or cannot afford to pay the high cost of medicine in their own countries. For years, consumers were able to buy pharmaceutical products with both..
Reasons International ACH Transactions are LaggingTwo years after the passage of the International ACH Transaction (IAT) code, most businesses are not using the service due to three main reasons:Complying with the IAT rules is an added expense. These days, businesses are focused on decreasing..
ACH Volumes Continue to RiseAccording to NACHA, there were 20.2 billion ACH transactions totaling $33.91 trillion processed in 2011. This represents an increase of 4.35% compared to 2010.Three types of transactions were responsible for most of the growth volume. First are “native”..
The growth of ACH payments for electronic bill payment continues. As paper check writing declines, ACH payments are on the rise.NACHA released its report for Q4 2011 ACH transactions. WEB entry classifications for online bill payments rose 6.9% to 685.9 million transactions, compared to 641.5..
Same Day Settlements Approved Yet Few Banks ParticipateFederal Reserve same day settlement for ACH transactions has been available for over a year. However, very few banks have chosen to participate, making it extremely difficult for merchants to take advantage of quicker clearing of ACH..