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In ACH processing, the settlement is the actual transfer of the funds to the various financial institutions that are provided by the Federal Reserve Bank. The net debit and credit information of these institutions are then calculated and posted to the reserve accounts. ACH credits are generally delivered within 5 business days.
ACH payment processing provides a secure, private electronic payment transfer system that connects almost all the financial institutions of the U.S. As e-commerce grows, so does ACH payment processing: More and more e-commerce businesses are becoming dependent on the ACH processing, allowing it to evolve further. Other benefits include:
ACH payment processing is used among industry types such as payday lenders, collection agencies, credit repair merchants and non-profit organizations. The main reason these merchants use ACH processing is to set up recurring payments from customers. In the case of non-profits, ACH enables for recurring donations.
The number of ACH payments grew to 22 billion worldwide in 2013 — $38.7 trillion in payments — marking a 4 percent increase from 2012. Customers and businesses feel more comfortable with it than using other means.
In addition to providing integrated ACH payment processing services with our merchant account services, Instabill offers risk management, a PCI-compliant payment gateway, live customer support and various payment processing options with other services. From international to offshore to high risk merchant accounts, Instabill has cost-effective solutions for your e-commerce business.