EFT and ACH Payments

Posted on December 9th, 2014

Now several popular payment options in the US and Canada. EFT/ACH payments.
Even a few years back, offering online payments were only something associated with credit card acceptance. Now several other options are becoming popular among the consumer and business owner around the US and Canada. EFT/ACH payments are easier than accepting and making payments from credit and debit cards for the customers or vendors. The greatest thing about this payment system is definitely the universal acceptance of payments in all forms. Instant processing, lower costs and minimal management efforts have made this a suitable payment method for all the people around the world. If you are still confusedHealth Fitness Articles, here are a few things that can help you to decide about your business transaction and management system.

ACH stands for a self-defining term Automated Clearing House. This is a payment-processing network maintained by the Federal Reserve management. Many business owners take ACH/EFT as a direct business rival for the credit card companies. This general misconception has developed due to the exposure and advertising of the payment system providers around. The major difference between ACH/EFT and other payment providers is the credit usage and access to savings account. These two are different in transaction management as well. The accessibility and availability of ACH/EFT payments is way more universal than card payments.  Canadian business can benefit from paying US vendors and suppliers without cross border delays and high transfer fees.

ACH payments are also popular as automatic check handling system by the merchants. The way it transfers money from one account to another is totally electronic and automated. That’s why EFT/ACH payments are also considered as the safest payment transactions system.

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