High Risk Merchant Services - US, Canada, India, and UK

High Risk Pay Solution: E-Check / ACH Payments ProcessingE-Check / ACH Payments Processing for Businesses in Canada, India, US, and the UK

Did you know that nearly 20% of consumers in Canada don’t have credit cards? In the US and the UK the percentage rises to just over 30% and in India, statistics put the percentage as high 90% in many regions. For merchants who only accept credit card payments, those figures represent a huge number of potentially lost sales.

Merchants who accept ACH (Automated Clearing House) payments – or eChecks – often see increased sales as customers who either do not have or choose not to pay by credit card are no longer turned away.

What is an ACH Payment?

ACH stands for Automated Clearing House, an electronic payment delivery system that batch processes electronically originating debit and credit transactions for financial institutions throughout the United States. The ACH is regulated by the National Automated Clearing House Association (NACHA) and accounts for over 4.6 BILLION online transactions.

An ACH payment, often called an eCheck or electronic check, are payments that are processed through that delivery system using the customer’s bank account and routing information.

What are the Benefits of Accepting ACH Payments (eChecks)?

Both high risk and low risk merchants can benefit from offering ACH payment processing / eChecks to their customers as a payment option. Some of those benefits include:

  • Increased sales: Offering customers increased flexibility in how they pay for goods and services can increase sales – especially among would-be customers who do not have or prefer not to pay by credit card.
  • Reduced payment processing costs: Since ACH payments / eChecks don’t incur any transaction or deposit fees they are cheaper to process than some other payment methods – often by as much as 60%.
  • Get paid sooner: Because banks tend to prioritize electronic payment processing, merchants who accept ACH payments / eChecks get paid nearly twice as fast as those using traditional paper check processing.
  • Fewer chargebacks / reversals: While credit card payments can be disputed for any number of reasons, ACH transactions can only be disputed for three reasons: the transaction was not for the amount authorized, the transaction was processed earlier than the authorized date, or the transaction was not authorized at all. Fewer reasons for dispute means less chargebacks and improved cash flow for merchants.
  • Reduced instances of errors and fraud: Because fewer people are involved in the processing of eChecks the likelihood of errors is greatly reduced. In addition, multi-stage fraud protection and secure customer data management result in a much lower instance of fraud than other payment methods.

Start Accepting ACH Payments / eChecks – High Risk Pay Solution Can Help

High Risk Pay Solution has helped businesses throughout Canada, India, the US, and the UK increase sales by enabling them to offer flexible payment options to their customers. To learn more about our ACH / echeck payment processing solutions, give us a call us at 855-736-6460 or click here to request information online. Or, if you’re ready to get started, you can apply online for free.