If you are familiar with ACH processing or new to ACH entirely, learn more information to help make sure ACH is used effectively in your operation!
What are ACH payments?
ACH is different than Credit Card processing in several ways. ACH (Automated Clearing House) payments are payments that are processed via debiting funds directly from your customer's bank account.
Sometimes referred to 'eCheck' payments, ACH payments are payments that are made using a routing number and a bank account number.
There is a US federally regulated governing body for ACH payments - this is known as 'NACHA' or, National Automated Clearing House Association - and they govern the movement of money via ACH transactions.
ACH can initially seem attractive as a business that processes payments through FusionPay, especially considering the typically lower rate associated with processing ACH payments, however, understanding legal requirements, elevated risk profiles, as well as longer funding time durations are important to consider as well.
Who does FusionPay use as the processor for ACH payments?
FusionPay leverages Forte as the preferred partner for ACH transaction processing.
Deposits will read on bank statements as "FORTE FUNDING".