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..

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..

ACH Processing for Electronic Funds TransferACH payments and wire transfers are the most commonly used methods of transferring funds electronically within the United States.Wire transfers are best suited for high dollar transfers must which must be sent or received quickly, within the same day or..