Electronic Checks for LendersPayment processing for payday loans is getting more challenging to obtain. Yet, good accounts are still available for both US and offshore payday loan companiesThe Federal Deposit Insurance Corporation and the Office of the Comptroller of the..
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..
Payment Processing for LendersPayday loan companies use ACH and Check 21 echecks services to process payments. There are 2 types of accounts established for payday loan companies.First, ACH credits deposit the amount of the loan directly to the borrower’s bank account. ACH credit accounts..
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..