ACH Processing

Veracity’s ACH (Automated Clearing House) processing solution works very similar to a paper check without the hassle and expense of handling the paper.  Funds move electronically from the customer’s bank account to the merchant’s account. There’s no need to register, you only need basic information such as the bank account and routing number for Internet based transactions. ACH differs from a remote deposit capture eCheck service, in which the customer still presents a check and it is converted to an electronic payment.This is a convenient alternative to a credit card payment, with minimal information entry and no paper checks.

Features

  • Pay Page processing capability
  • Routing number is verified upon entry
  • Automatic drafting available through Automatic Payments module
  • When merchants issue ACH refunds, an electronic record is stored on file, unlike a cash or paper check refund
  • Integrated with credit card processing in virtual POS terminal. – no need to switch between systems or pieces of equipment
  • Available to Retail, MOTO and eCommerce merchants

Benefits

  • Lower processing cost than paper checks and credit cards
  • No additional equipment needed
  • Eliminates the need to deposit checks into the bank
  • Great for customers who do not have a credit card
  • Shorter reject period than credit cards
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