ELECTRONIC PAYMENT TRANSACTION SYSTEM IMPROVES CASH FLOW, LOWERS FEES, ELIMINATES MANUAL PAYMENT SOLUTIONS
Baltimore, Maryland, March 21, 2016 — In today’s cutthroat economy, speed and efficiency are the benchmarks of success: Together they form the foundations of a seamless customer experience. And nowhere is the need for speed and efficiency more pressing then when it comes to payment processing.
While often overlooked by business owners and consumers alike, the last 40 years have witnessed a radical transformation in how payments are transferred and processed between entities like banks, customers, businesses, and more. Instead of physically writing a check or handing over paper currency, the world began developing a system for the electronic transfer of money directly from bank accounts. The system, known as the Automated Clearing House, or ACH, now forms the backbone of all U.S. electronic financial transaction. Today the ACH handles more than 23 billion payments, up from only 9 billion in 2003, a 144 percent increase.
Key to the ACH usage jump has been a proliferation of online businesses — companies that require all-electronic interfaces, including payments. But the growth has also come in part thanks to an increase in third-party ACH payment-processing solutions. These companies are working to create products that make using the ACH easier. And E-Complish, a leading payment solutions provider, is pleased to be setting the standard of what best-in-class ACH payment processing can achieve.
A Look Under the Hood: The Power Behind ACH Payment Processing
E-Complish offers ACH processing that allows simplified batch billing through an automated system that integrates easily with a company’s existing payment processing software. The result is a streamlined electronic payment process and one that is designed to save accounting teams from the pain-staking task of processing ACH payments manually.
Chief benefits of the E-Complish solutions include:
- Reliable security features like Internet encryption
- Multi-password protection and user-level security with PIN
- The ability to find, edit, and/or replicate any transaction
- The inclusion of ACH payment types for any bank
- ABA bank database verification
- The ability to print and export statements and reports
- NACHA compliant letter and email processing
The benefits of E-Complish’s ACH processing are clear. Thanks to the handling of a far greater volume of transaction data (batching), a business’s cash flow is greatly improved, as are collections. The system is also designed to alert users when there are insufficient funds in an account. Add in the benefits of lower fees and a faster notification of settlements, and it’s likely the business in question, no matter its size, will enjoy rapid success and newfound customer engagement.
“With the U.S. third quarter only days away and as millions of businesses shift to their spring promotions, now is a great time to consider adopting ACH payment processing solutions that will transform how these brands do business by making that business easier to transact,” said Stephen Price, E-Complish’s CEO. “Also, as an ACH processor, we’re committed to ensuring maximum flexibility with our products. That means the ACH processor can be used as a stand-alone solution or together with our VirtualPay, EBPP, HostPay, RecurPay, MobilePay, Text2Pay, DirectPay, EnterAct, and developer API solutions.”
The Future Is Here: Next-Day to Same-Day ACH Has Arrived
In addition to the above benefits, ACH processing is also getting a boost from the growth of same-day transactions — ideal for tasks like: payroll, bill payments, invoice payments, and account transfers. But more importantly, all that speed and efficiency means more time a brand can spend innovating their next breakthrough product and less time balancing the books.
“E-Complish’s ACH payment processing is transforming the back end of business, ensuring that its consumer-facing and employee-facing elements run smoother than ever,” Price added. “So if you take payments over the phone, mail, or email, have regular internet access, and need to increase the speed of check deposit and clearance, our ACH solutions are right for you.”
Founded in 1998, E-Complish’s mission is to deliver a wide selection of secure and dependable services, making it easy for its customers to process and report on all types of transactions. For more information about E-Complish and its suite of online business solutions, including its automated phone payment system, visit https://www.e-complish.com or call 888-847-7744.
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