ACH Processing

ACH Payment Processing – Thoughts about ACH Payment Processing

2010-08-24T14:06:00.000-07:00

ACH payment processing is one of the easiest ways for individuals and businesses to transfer money. ACH is the network that handles the majority of electronic financial transaction in the United States. The network is governed by the Federal Reserve as well as the Electronic Payments Network. The rules that guide ACH are handled by NACHA. Anyone with a routing number and bank account can use the ACH network to credit or debit funds. Fund transfers happen in a variety of circumstances and are coded during the transaction so they can be easily organized and identified later.

The service and products offered through ACH payment processing are designed to help individuals and businesses thrive. The network is able to help clients get low interest rates and fees. Network staff can also help clients find the best type of financial service or product that suits client goals. Ultimately, the network is known for facilitating payments in secure batches. Transactions can be made orally or at virtual internet-based terminals, through websites, and in point of service situations like when purchasing gas. Transactions are processed very quickly. If a portion or all of transferred funds are not available immediately, they are usually accessible within a few hours.

To use ACH payment processing as a business tool, you need to set up a recognized merchant account. This gives you legitimacy and allows you to give and receive fund transfers online. Think about how many transactions you might be doing in a day, a week, a month or a year. These answers can affect the type of account you will operate. You might want and need to use a third-party payment processor or choose to transfer funds directly through your website. Either way, online business fund transfers can help your business thrive. Clients and buyers can purchase from you at any time of the day or night. All of your transactions are easily organized and search-able for later reference.

Your business can be increasingly productive if you are able to accept credit card purchases on line. ACH payment processing makes this easy and convenient for both you and your customers. The service is open to retail, wholesale, orders via phone and snail mail, and other commercial and e-commerce related businesses. Businesses that want to accept credit cards must have a merchant account where sale funds are routed and held before being transferred to personal business accounts. This is a protective, security measure meant to help both clients and business owners.

For more information please visit us at www.nationalprocessing.com or call one of our representatives at 800-403-8182.

EFT – Save Money and Trees

2010-07-15T09:20:00.000-07:00

To those who have never owned a business, the process probably seems quite simple: you come up with a good idea, choose a location out of which to operate, and simply welcome the customers in to buy your product or service. However, those that have been managing businesses for years know that there is much more to it than that. Not only do you have to make decisions about who your suppliers will be and how much you’ll pay your employers, you have to think about ways to make your processes cheaper and more efficient. EFT is a great way to streamline your finances and make your business more profitable.
Are you wondering what exactly EFT is? Don’t worry, many business owners are only now starting to realize what an advantage this form of payment processing can be for their companies. Basically these letters stand for Electronic Fund Transfer, which is a method for moving money from one bank account to another without ever having to write a check or handle any cash. This eliminates long trips to the bank, and the delay between your customers writing a check and you receiving the money.
One of the most popular forms of EFT is the direct deposit program that many employers, from restaurants to international corporations, are now using to pay their workers. Instead of having to print, sign, place into envelopes and mail or hand deliver paychecks, the sums are simply deposited at the beginning of the designated day, preventing the use of costly resources. This method of electronically paying employees is also helpful in preventing paychecks from becoming lost, damaged, or stolen in the mail. Credit card terminals, automatic teller machines and point of sale purchases are also other forms of transferring funds electronically.
If you’re unsure about whether using EFT will really benefit your business, you should know that hundreds of working hours are wasted every year conducting the outdated processes that were discussed above. Wouldn’t you like it much better if all your accounting and payment systems worked together in harmony? This way you will have the pleasure of seeing payments for your services come in much faster, and your employees will have the confidence that they’re pay will be in their accounts securely, and on time, every time. If you’re looking for a way to gain an advantage over competitors, and take your business to the next level of profitability, electronic payment processing is a good first step.

Protect Your Money: ACH Processing Payments Option

2010-05-07T14:11:00.000-07:00

Banks offer ACH processing as an option to customers making regular payments requiring a reliable payment method. Credit cards or bank debit card transactions often carry a level of security risk when used for a regular monthly payment. Consumers worried about the risks associated with these transactions should seek the fees associated with each purchase, inquire if the option is only initiated by the bank, inquire about the estimate payment post time and inquire if the bank provides additional security for choosing this option. The ACH processing procedure requires the customer to set up regular payments with the billing company. The bank recognizes this payment as a check and processes the payment in the same manner. The customer is able to provide direct information for their account and does not have to give away credit information such as a debit card number. The ability to provide security to customers with each transaction is the main ideal of any bank. Protecting customers against fraud becomes a challenge when the standard option of payment is a debit card linked to an account. ACH processing allows the bank time to cancel any fraudulent charge that seem suspicious. Conscious customers often try to seek ways to avoid penalty fees of any type when considering the banking options they have in the current age. Customers may find that the ACH payment process has no fees associated and is one of the safest ways to complete a payment. Seeking additional information on fees? Contact your local bank branch. Initiating an ACH processing payment may require authorization from the customer. Many banks require the customer to provide information to the billing company such as a routing number and account number. Competing this process may require a special form from the bank or special confirmation number from the billing company. The time the payment may take to post to the billing company's account to allow with drawl of the funds varies based on the banking institute. The bank receiving the payments may take up to ten business days to post the payments. Customers are urged to speak to the billing company regarding the estimate post time. Account security such as personal information, checking account numbers and even social security numbers are greatly protected by many bank institutes due to the scams available today. ACH payments are initiated and canceled by the customer and can be tracked by the bank. The banking institute is able to cancel any payment before it posts if the payment is fraudulent. The ability to use ACH processing versus traditional use of a debit card offers many benefits. The ability to by pass any fees or the security of the process is the alluring factors to many consumers. Speak to your local bank regarding the ACH payment initiation process.

High Risk Check Processing

2010-05-05T10:01:00.000-07:00

The purpose of any business, regardless of its nature or size, including non-profit organizations, is to turn a profit, which basically means more money comes into the business then goes out.

One way of making a profit is to expedite the way a customer can pay for goods and services. This motive resulted in the innovation of high risk check processing. This electronic processing method is considered a substitute for the slower and more thorough Automated Clearing House payment network.

The need for this type of system resulted in the “Check Clearing for the 21st Century Act.” This is a government regulation to expedite the process of gathering, processing, and disbursing electronic checks between United States banks. It enables high risk checks to be moved through the banking system relatively faster. The colloquial name for the decree is “check 21,” and the electronic devices used to process it are referred to as “check 21 processors.”

In banking and merchant circles, check 21 is somewhat of a revolution in how business is conducted. It changed the conventional check clearing process. Now it’s possible for a paper check to be transformed into an e-check to speed up clearing and disbursing funds. Check 21 accounts now allow merchants more efficient solutions to meeting customer needs and processing payments.

Overall, the check 21 system has also had a beneficial effect on vendor-merchant and merchant-customer relations because it has simplified the transactions and financial procedures between them. One example of a benefit is that a merchant can now receive payment from a customer who does not have a credit or a debit card. Another benefit is that the cost and time of facilitating and collecting payments is greatly reduced. Should there be anything fraudulent in the transaction, the check 21 processing system makes it much more obvious a lot faster. All these advantages has meant that the check 21 system has become popular and more prevalent.

The new processes can be incorporated into existing automated payment systems, working with existing computer technology. In addition, more providers are available for merchants to select and rates for these services has become increasingly affordable. Merchants have more choice in rates, quality, and types of services offered by providers. The check 21 ruling has made financial transactions quicker, cheaper, and easier for all parties.

Merchant Accounts, Machine

2010-04-30T08:36:00.000-07:00

Merchant account machines come in a variety of options. The best option is one that fit’s the needs of a business as well as its budget considerations.

Here are 10 of the most popular types of merchant account machines:

1. Terminals with printers. These terminals have numerous features and, as the name implies, have built in printers. Prices start at about $200.

2. Free credit card machines. With these machines merchants don’t pay for the machine itself but pay through the transaction fees. Debit rates start at 1.29% for swiped transactions and 1.89% for keyed in transactions.

3. Swipe Terminals. These are rugged terminals, able to handle various types of rough use, including being dropped. They’re usually reinforced with thick padding. They’re easy to use and cost about $90.

4. Pin pads. Merchants can use these to accept debit cards as they allow a way to add pin codes. The cost is about $140.

5. Touch tone processing. These allow you to process touch-tone phones and cell phones. There are no credit card machines or terminals with this choice. There are no costs for the set up, only transaction costs. These are usually 2.45% plus $0.35 for every transaction.

6. Receipt printers. This basically helps with manual transactions. It prints receipts for both the merchant and the customer. The average cost is about $125.

7. Credit card processing software. This is software to install on a PC. They can process credit cards and get reports. They cost about $110.

8. Wireless terminals. This are a combination of different features. They process mobile card payments. The cost starts at about $680.

9. Complete POS system. These are usually found in big retail stores because they offer multiple functions. They are popular because they are considered a complete solution. The cost starts at about $1600.

10. Internet Processing. Designed for website sales, these process credit cards via an internet connection. The costs are a monthly subscription fee, a percentage of the ticket, and a transaction cost. For example, it could be 2.19%, with a transaction fee of 25 cents, and a monthly fee of $8. The set up fee may be about $10.

EFT (Electronic Funds Transfer)

2010-04-28T13:41:00.000-07:00

Electronic Funds Transfer (EFT) is a system of making or receiving payments through a system of direct bank transfer. This means no paper money or checks ever changes hands. EFT can be used in many situations including employee payroll, government payments, tax payments, receipt of benefit payments (government or private), or personal payments. Personal EFT payments are commonly called bank wires, while payroll EFT payments are known as direct deposits. EFT can also refer to a range of other money transfer systems including credit card payments and debit card payments either online or at a point-of-sale terminal.

EFT transactions are processed through a secure network of U.S. financial institutions known as the Automated Clearing House (ACH). This method of payments is preferred by many banking, government, and private institutions for several reasons. EFT payments save companies the cost of purchasing and mailing checks. EFT payments are also speedier than traditional check payment systems. People who get paid through EFT usually have their funds available sooner than those who choose to use checks. EFT has become the norm for income tax payments and refunds. Income tax refunds done electronically are issued up to four weeks sooner than paper checks. Additionally, law demands that tax payments of $10,000 or more must be made through EFT. No choice is given.

EFT transactions are growing in popularity every year. Many people now use EFT methods for paying all of their household and personal bills. Many experts say that our modern age is ushering in a new time where paper money will be obsolete. The internet is fast helping to make this vision a reality. Other benefits of EFT payments besides expense and time are reduced administration, increased efficiency, simplified accounting and bookkeeping, and higher security.

EFT compliance is monitored by the U.S. government through the Federal Reserve Board. The Federal Reserve Board is mandated to follow Regulation E, named the Electronic Funds Transfer Act (EFTA). This act covers all aspects of EFT including disclosure of information law, record retention, paper and electronic receipts, resolution of errors, and consumer liability.

Which Company Should I Use For Online Payment Processing?

2010-04-23T09:23:00.000-07:00

Our economic system allows anyone to monetize any aspect of production, from manufacturing to banking. The Internet has spurred the growth of online payment processing as a convenient and secure method of handling transactions. The security comes from the software encryption used to protect sensitive data, while the convenience arises from the fact that the Internet allows access to payment processors from any Internet connection anywhere in the world. There are several companies that offer payment processing services.

PayPal: This is the most ubiquitous as well as the most famous payment processor. Almost everyone has either used or knows something that has used PayPal for completing a transaction. PayPal can be used for payment as well as for sending donations to websites or organizations. PayPal allows clients and customers to exchange payments safely, with neither party having any access to either party's financial information.

Google Checkout: First made available in the United States in 2006, Google Checkout is rapidly becoming one of the most popular brand names for payment processing. The fees for personal and business transactions are competitive and if clients also have an AdWords account, a "secure checkout" logo will be added to clients' advertisements, creating a unique way to build trust among customers. Google as a brand is so trusted people readily use Google Checkout for online payments.

National Processing: This is a leading payment processor based in the United States. It is currently independent and not owned by any other company or organization. National Processing specializes in dealing with small businesses and provides customers with a simple, user-friendly service. National Processing has a good reputation and delivers a quality array of services to its customers.

SagePay: Until recently this company was known by the much more common name of Protx. SagePay is one of the most well-known payment processors in the UK and Ireland. According to official statistics, SagePay claims to have over twenty-five thousand customers. They have been in business for years, and their fees are competitive with companies all over the British Isles. For the UK market, SagePay is one of the leading payment processors on the Internet.

These payment processors are not the only ones available, of course. Solid Trust Pay is a well-known Canadian payment processor that also has a good reputation for integrity. Depending on your needs, you may choose another one entirely. The wide range of choices will not leave you wanting.

Credit Card Merchant Account

2010-04-21T13:42:00.000-07:00

Any business that wants to accept credit cards is going to need a credit card merchant account. Although the process is similar, regardless of the vendor the business picks, there are some differences that should be taken into consideration.

The first step to getting a credit card merchant account is filling out an application. When filling out your application, you will need to specify whether you are applying for an internet or retail account. Some businesses also offer the option of a wireless account. Most applications can be approved within twenty-four hours, which means your business should be cleared to accept credit cards within that amount of time.

While your credit rating will be checked while processing your application, that will not be the final deciding factor in whether or not you are approved. Different businesses may have different standards and acceptance rates for business owners with bad credit. Just as you can buy a car or a home with bad credit, you can qualify for a merchant account. The process may simply take more time and be more difficult to achieve.

There are different types of credit card merchant accounts. Some accounts are designed to let retail business customers swipe their credit card. Other accounts are designed to allow online customers enter their information. For customers who run a phone or mail order business, there are merchant accounts that allow the business owner to manually put in the credit card information.

Purchasing a credit card merchant account will require specific terms and conditions unique to the seller of the merchant account. The business owner will typically be required to agree to a contract of at least six months to a year, depending on whether they are a retail business or an internet business only. Typically, the business owner will have to supply a checking or savings account in order to have the money made from credit card sales directly deposited into their account. Of course, the merchant vendor will likely deduct a percentage of the credit card sales, along with any upfront money that that the business also has to pay for use of the account.

ACH: How Payments Are Made Today

2010-04-16T12:38:00.000-07:00

Most people have used handy payment options like direct deposit of payroll or online bill pay. Automated Clearing House, or ACH, is the electronic network established in the United States for handling these types of financial transactions. NACHA - The Electronic Payments Association and the Federal Reserve establish the rules and regulations governing ACH payments.

ACH transactions received by a financial institution are not processed singly. Instead, they are bundled into batches and processed at certain times of the day. Processing batches provides substantial economies of scale. Financial institutions are able to process ACH transactions faster than paper checks, which require physical handling. Rather than using paper to carry necessary transaction information, ACH transactions send the information between financial institutions through data transmission.

ACH transactions involve a Receiver, an Originator and an ACH Operator. The Receiver is the account holder (a person or business) who authorizes an Originator to issue an ACH debit or credit to an account. The Originator is the entity which issues the entry to put money into, or take money from, an account. The entry must include the routing number of the Receiver's bank, along with the account number and transaction amount. The ACH Operator is a central clearing facility, either the Federal Reserve or the Electronic Payments Network.

In order for an Originator to send or receive an ACH payment to an account, the Receiver must sign an acknowledgement or agreement allowing it. The permission must be a signature, voice recording or electronically-recorded acknowledgement, such as selecting an "I Agree" option on a PIN pad. The type of permission needed depends on the type of ACH entry to be generated, as denoted by an associated ACH Standard Entry Class code. The permission must be given and captured prior to issuance of an ACH entry by the Originator or it will be rejected by the Receiver's bank.

When the authorization is received, the Originator creates an ACH entry which is passed to an Originating Depository Financial Institution (ODFI). The ODFI can be any bank or financial institution handling ACH origination and is often the Originator's bank. This ACH entry is then sent to one of the ACH Operators, which sends it over the ACH network to the Receiving Depository Financial Institution (RDFI).

After the RDFI processes the ACH file, the Receiver's account is issued either a debit or credit for the amount of the ACH entry.

With ACH Processing, You Get Your Payments Faster

2010-04-14T15:37:00.000-07:00

Automated Clearing House or ACH is a method for the transfer of electronic funds. Many companies help with ACH processing services. A number of transactions such as point of telephone payments, point of sale transactions and bill payments and more can be made through this network.

ACH transactions help improve the cash flow of your business by giving customers one more way to pay you. Credits and debits can be made through ACH. Using this method provides a multitude of benefits. The fees associated with processing payments through ACH are a great deal less than through credit cards. By encouraging customers to use this way of payment, your business stands to lower its expenses. Processing electronic checks also lowers expenses because you do not need to mail and process as many invoices. Payments via ACH go through more rapidly than many other methods. This is particularly useful when people are waiting until the due date to make payments. With ACH, they can still make those payments at the last minute thus reducing costs associated with collections and payments that are late. Electronic checks are also posted to bank accounts ahead of paper checks. They will often be put ahead of checks that were written several days before. This means that if someone is low on funds, you may get paid first. It can make the difference in getting your payment or not. If the person does not have enough funds in the bank, your debits can automatically be resubmitted. This helps ensure collection of your payment. It also saves you both money and time, as you will not need to have someone resubmitting the charge manually. Using ACH processing helps improve the bottom line of your business. It improves both the amount and the speed of funds entering your account. When it comes right down to it, sales mean nothing if the money is not received and using ACH helps you to do that more effectively.

What Is Check 21?

2010-04-12T15:48:00.000-07:00

Check 21 is the shortened name used for the Check Clearing for the 21st Century Act that was passed in 2003 and went into effect in 2004. This act allows banks to electronically process checks without the need for paper processing. This act also allows banks to produce a substitute check from the information if the receiving bank requires paper processing. This act was put into effect to make check processing faster and safer for the banking industry.

The only change a consumer may notice is that they no longer receive their cancelled checks in the mail. Many banks, once they switch to Check 21 only send copies of the checks that have cleared the account that month. No other effects should be felt in the client base of the banks.

Check 21 does not interfere with the amount of time a bank holds the funds of a deposited check. It also has no relevance to the amount of time it takes to receive funds once a check is cashed. Hold times are determined and regulated by a separate banking act. However, it is anticipated that as more banks comply with the Check 21 Act, hold times will decrease because processing has become faster. Check 21 does not mandate that banks use this type of processing. It simply allows them to process checks this way if they desire.

Check 21 should not be confused with Electronic Funds Transfer. Some businesses use checks as a source of electronic fund transfer information. This is done by the merchant, not the bank. EFT’s are governed under different regulations and consumers have different rights and protections than with a check. Merchants must notify consumers that they process their check information as an EFT prior to the transaction. This allows the consumer to select a different form of payment if they wish to complete the transaction.

Check 21 offers consumers extra protection as well as time saving measures for the banking industry. Most consumers are not even aware this change has taken place over the last few years. The banking industry will continue to improve its check processing capabilities due to this act which will result in better service to the customer.

Do You Have Online Payment Processing for Your Business?

2010-04-07T13:49:00.000-07:00

If you conduct business online - whether you offer primarily products or services - one of the most important factors to consider is the availability of online payment processing. Online payment processing offers a number of benefits - both for companies and customers.

How Online Payment Processing Benefits Companies

When making a purchase online, businesses that offer online payment processing on their sites are often far more successful than their counterparts. Being able to process their payments at the same time as they make the transaction is not only convenient for online shoppers, but it also provides them with a sense of security. By researching merchant account services to find the provider that offers the most security with the lowest fees, companies will find that they are able to provide additional services to their customers without having a negative impact on their bottom line. Additionally, some online payment processing companies make a good deal even better by enabling online processing of in-store transactions or even by allowing merchants to borrow against their anticipated earnings rather than applying for a bank loan when money is tight.

How Online Payment Processing Benefits Customers

Shopping online is all about convenience. When your customers know what they are looking for and find it quickly, the last thing that they want to do is to pick up the phone to complete their order or to mail in a check to pay for their purchase. Online shoppers want to be able to pay immediately without leaving the website that they are on. They also want to be sure that the transaction will be secure and that their credit card information will only be used for making that single purchase.

Because online shopping creates greater competition and more opportunities for a customer to make a purchase, your customers know they have options. When you are able to provide online payment processing that is safe and secure in addition to the other benefits you offer your current and prospective customers, you can be sure that your customers keep coming back to you. As repeat sales are a great way to grow your business, shouldn't you be sure to offer online payment processing and other benefits that your customers want and need?

Merchant card services

2010-04-02T14:26:00.001-07:00

Financial institutions offering credit card services to merchants goes back to the 1930s. These were for specific merchants only, such as department store or oil company customers. In 1949 Diners Club was started. This card was aimed at affluent travelers who needed to cover expenses while traveling. American Express arrived in 1958, catering to business people. These had to be paid in full every month.

Bank of America began the modern credit card, offering monthly installments over time. Their BANK AMERICARD brand was leter renamed VISA.

Merchant card services are an essential part of today's business environment. Financial institutions provide this service so any merchant can allow their customers to pay by credit card, which most prefer doing. There are many differing merchant card service programs available, offering a variety of features and benefits.

There is a list of documents that merchants need when applying for merchant card services. if the merchant has been in business for over a year, financial statements must be provided. If less than a year, or a sole proprietor, income tax returns will be analyzed. Copies of their credit records from the major credit reporting agencies must also be furnished. The institution must be sure the merchant has a record of financial responsibility.

Each merchant must evaluate several offerings among financial institutions to determine which is right for them. It's a good idea to check with the Better Business Bureau. Ask if a financial institution was investigated for questionable practices, or received several complaints. Doing an online search may turn up more information. If any of this raises any red flags, continue searching.

Narrow the choices to a few, preferably with offices in the area, that have a good track record. Take a close look at what they are offering. Read the entire document that must be signed, right down to the fine print. If something seems unclear, ask for an explanation. Each program will have it's own set of requirements, features, benefits, and fees, including some that may be unnecessary or even harmful.

Would the merchant be locked into a contract for a specific time span? Would there be penalties to pay if the merchant wants to switch providers? Sometimes the financial institution may outsource the service to an independent payment processor. Particularly with online merchants, the service must be available at all times, and process all debit and credit card transactions.

Credit And Debit Card Machines

2010-03-31T13:15:00.000-07:00

Commercial transactions have always been hazardous for the merchant. Just two centuries ago, a typical merchant would suffer tremendous losses in his attempt to reach a profit. Many merchants never did reach a profit, and died penniless in poor houses or debtor's prisons. Thanks to technological progress, merchants of today have far less to fear than their counterparts did ages ago. Growing pluralities of transactions take place online, where the customer and the merchant often never meet face to face. The majority of transactions, however, take place offline in supermarkets, grocery stores, malls, and the like. This means that merchants still need a way to protect themselves from risk, such as the risk of a transaction being fraudulent.

Credit and debit card machines are a great way to mitigate risks. Portable debit card machines are quite popular with merchants of all types. Some machines are so small they can even be carried in pockets. Such machines are common for what is known as point-of-sale (POS) purchases. Of course, customers are used to card machines already. What they fail to understand is portable card machines are run remotely; they do not need to be plugged in and stationary in order to work.

These machines provide peace of mind to both customers and merchants because of the ease of transactions. Customers no longer have to worry about employees copying their personal information, as they did when credit cards had to be swiped and copied. Merchants, in turn, no longer have to worry about customers filing complaints against them because the transaction can be carried out in the customer's presence. Merchants have an added benefit: portable card machines also decrease the cost of doing business.

A credit and debit card machine can also be set up through a laptop computer if the need arises. Software can be purchased that allow the computer to be converted into a point-of-sale device. Once that is taken care of and a credit card swiper is hooked up to the computer, business can begin. This is an attractive option for small businesses fearful of expanding because of potential higher costs. If a printer is also installed then receipts can be printed out for customers.

POS purchases with portable credit and debit card machines can be made anywhere in the world. The opportunities for businesses and customers have been expanded, and we all will benefit as a result.

ACH Processing Helps Ensure You Receive Your Money

2010-03-25T08:27:00.000-07:00

Accepting payments made via ACH helps businesses to improve their cash flow, as it is a very easy way for customers to make payments online. Debits and credits alike can be made through ACH Processing systems.

ACH payments are faster than other methods. This is especially beneficial when someone is paying at the last minute. With this option, your customers can get their payments in just before the deadline saving you the cost of late payments and collections.

If the person does not have enough funds in the bank, your debits can automatically be resubmitted until payment has been received. This helps ensure collection of your payment.

ACH processing helps you spend less and take in more. The speed with which money enters your accounts and the amount of payments you receive are both improved. No matter how good your sales are, if the payments are not received, they are meaningless. ACH improves your ability as a company to collect the money that has been agreed to you.

Check Processing

2010-03-18T13:58:00.000-07:00

National Processing makes check processing simple, fast and secure. With over $31 trillion customer payments made by ACH (Automated Clearing House), having a reliable partner to process customer payments has never been more essential. According to the Federal Reserve, nearly 91 percent of electronic payments were processed via ACH.

How it works

Electronic check and credit card processing begins with a Receiver capturing a customer’s debit card, credit card, or e-check. An Originator processes the transaction once the Receiver authorizes the transaction and creates an automated clearinghouse entry. After creating the ACH entry, the entry is confirmed by the customer’s financial institution and forwarded to the merchant’s financial institution for deposit.

With National Processing check and card processing, a merchant is assured of a hassle-free transaction, virtually eliminating the cost of returned checks, errors, and fraud. Plus merchants enjoy lower fees, flexible deposit options, user-friendly integration, and easy to understand statements that clearly itemize all receipts.

With National Processing electronic processing, merchants can integrate a secure, reliable ACH platform onto their existing website in a matter of moments and begin accepting payments within INSERT TIME FRAME.

National Processing allows merchants to accept all major credit cards: VISA, MasterCard, Discover, American Express and bank debit cards. Moreover, Client’s Name allows merchants to accept customer checks right from the Internet.

National Processing is a global payment gateway, giving merchants access to both domestic and international customers with secure and accurate transaction processing. What’s more, it gives merchant true 24 hour, 7 day-a-week purchasing hours—customers can shop at any time, anywhere.

Who can benefit from National Processing service?

Virtually any merchant can benefit from National Processing ACH processing service:

Online merchants

Professional and private associations

Corporations

Law firms

Medical offices

Charities

National Processing can accept and process payments for:

Online payments

Dues

Telephone purchases

POS check conversion

Charitable donation

Payrolls

Pensions

Business to business transactions

Dividend payments

Interest payments

IRA, SEP, 401K contributions

Insurance payments

Mortgage payments

Loan payments

Annuities

When merchants partner with National Processing, they can be assured all of their receipts being processed quickly and securely for a competitive fee with outstanding customer support and easy account access.

Don’t wait, contact a National Processing associate today and get access to the best real-time, safe, and dependable ACH platform as well as millions of customer’s worldwide.

Credit Card Risk

2010-03-10T15:59:00.000-08:00

WHAT CAN CONSUMERS DO TO LOWER DEBIT CARD RISK?

(1) If you don't want a debit card, demand a plain old ATM card.

(2) If you do want the convenience of a debit card, lower the risks:

-- Never use a risky debit card on the Internet. Only use a credit card for Internet transactions. In addition to greater legal liability protection with a credit card, you have greater legal protection if goods are defective or don't arrive.

-- Use a debit card only with merchants you trust. It is also a good idea never to let it leave your sight-- it's one thing to watch a clerk "swipe" it right in front of you at the cash register and hand it back to you. It's another story when you hand it off to a potentially unscrupulous waiter or waitress who could have an illegal card "skimmer" (the size of a pack of cards) in their pocket and copy your information after they walk away with it.

-- Just as you wouldn't use it on the Internet, don't use it to call info-mercial 800#s off the television. If you have a dispute over double-billing or products that don't arrive from a sleazy info-merchant, remember-- you'll be fighting to get your own money back, and that could take ten days or more of arguing with your bank.

(3) Complain to Congress! Urge Congress to enact legislation to change the Electronic Funds Transfer Act law so that debit card liability is legally the same as credit card liability. Not surprisingly, the banks oppose it. No matter what card you use, you should be equally protected.

An Efficient way to Make Web Payments

2010-03-03T15:52:00.000-08:00

In today’s world, shopping online has become a very common place activity. This virtual shopping mall has opened up a new global market. The question now arises on how to have a secure way for money currencies to change hands on a global level. Today’s technology now has provided the world with a way to make web payments. Not only does this method promote flexibility in shopping, but it also provides unsurpassed security.

Shopping the internet and using the option to pay for items with web payments is a fast, flexible, and secure way to shop and sell in an online store setting. The online shop can be open continuously to a global market. This results in increased business and profits. With the introduction of features such as 3-D Secure, security and identity protection has reached a new standard. This makes a safer shopping environment for the entire world to share in.

If you wanted to receive ACH payments, you would want the ACH processing to have the latest technology and security so that you could trust that the ACH processing of payments would go safely. You would not want to have to worry about problems with the system or problems with the safety of receiving payments through ACH processing.

So, as you seek a company to help you process ACH payments, keep in mind that the company must do all of the aforementioned things to help you get the ACH payments in a timely, efficient and safe manner.

ACH – Advantages of the Automated Clearing House

2010-02-24T08:32:00.000-08:00

The Automated Clearing House (ACH) is the secure network used to connect all US banks and financial institutions to each other. It makes the electronic funds transfer (EFT) for direct deposits and debit and credit card payments possible. It was established originally as a means for California banks to work with the Federal Reserve to enable paperless transactions. This process increased the speed with which transactions were completed. As time passed and the number of transactions increased, more financial institutions joined the network and regional associations were formed. The National Automated Clearing House Association (HACHA) was established to coordinate regional efforts and link them into a nationwide network.

The ACH has proven that electronic funds transfer is faster and more economical than using paper check processing. All financial institutions that participate in this network must adhere to the NACHA Operating Rules. The network functions on a batch processing, store-and-forward system. This means that instead of transactions being sent and processed individually, transactions are collected for a specified amount of time and sorted based on destination. Once the pre-determined time has passed, transmission of the sorted transactions is made to the appropriate location. This is faster than handling paper checks as the data is entered into the system and sent electronically.

A transaction that used to take up to two weeks from start to finish can now be completed in a matter of hours. There are many types of ACH payments. Direct deposit of payroll, Social Security and tax refund checks can all be made through this network. Direct payment for recurring bills such as utilities, mortgages and insurance premiums also utilize this system. Electronic checks as well as e-commerce payments take advantage of the speed and ease of use of the Automated Clearing House. Many organizations were hesitant to use the electronic transfer system for their own business at first,

That has dissipated and the number of business-to-business transactions that are processed electronically through ACH has increased in the last few years. As the Internet has become accepted as a mainstream resource, online payment processing has become increasingly popular. Consumers can use it to set up recurring payments directly from their bank accounts. The speed with which transactions can be processed helps improve cash flow to vendors and results in fewer late fees that must be paid. Due to the electronic nature of the transactions, personnel requirements have decreased and the amount spend on consumables such as envelopes and stamps have been greatly reduced.

Payment Processing – Selecting the Right Vendor for Your Business

2010-02-15T09:28:00.000-08:00

Small business owners are often apprehensive about accepting credit cards. They believe that the payment processing fees and equipment will be too expensive. However, these are not the only concerns. There are many different companies that offer these services. Banks, independent organizations and the credit card companies themselves all have options to choose from. When selecting a company, consider what type of customer service they offer? Are they only available Monday through Friday during normal business hours or are they staffed weekends and evenings as well? Some businesses prefer to work with the bank where their business accounts are held.

One of the advantages to having their payment processing needs serviced locally is that they have already built a relationship with the financial institution. They understand how the business services work and are comfortable asking questions. However, there are also benefits to working with an independent sales firm. In many cases they specialize in providing these types of small business services. They often are flexible in the types of organizations they can work with as well. Most vendors offer several services bundled together and the rates that are discounted if purchased as a package. When comparing potential vendors, there are a few things to consider.

How reliable is their network? If it goes down unexpectedly, what is their backup structure? Are there support options available 24/7? Ask about their range of payment processing products. Do they offer full-featured solutions that allow you to take payment over the phone as well as online and manually? Can they work with your existing point of sale system or do you need to purchase equipment from them? Can they accept electronic gift cards and checks? Although price is not the only consideration, rates may fluctuate greatly from one vendor to the next. Some are very competitive, while others are not.

There are many fees associated with accepting credit cards, from the standardized monthly fees, to those that are charged as a percentage of every sale. There are also separate fees based on how payment was collected. Scanned cards may be charged with a different rate than those that have their numbers and other information manually entered. Accounts often must meet a minimum amount in sales or an additional service feed may be charged. If you are a small business about to embark on the search for a payment processing company, take some time to research your options to find the vendor that will best suit your needs.

Please contact us at 800-403-8182 or at www.nationalprocessing.com for more information.

ACH Processors – The Business Advantage

2010-02-03T13:37:00.000-08:00

ACH, or Automated Clearing House is a secure network that connects all financial institution in the United States. It allows transactions for payments and debits to be completed electronically. Many businesses want to provide flexibility to their customers by offering a variety of payment options. When using ACH processors, they enable their customers to make payments by electronic check, debit cards and electronic funds transfers. There are several advantages for them to do this. The first is that they have faster access to funds than ever before. Traditionally, merchant banks would not release funds until there was confirmation that the account being accessed had the appropriate amounts.

This could take up to three weeks. Once ACH processors make the appropriate entries and confirm funds availability, the transaction can be completed within one to two days. As the entire transaction takes place electronically, it is also more convenient for businesses. They do not need to be concerned about returning unsigned checks, maintaining a staff that is responsible for double checking the account information, filling out deposit slips and taking them to the bank for deposit. Money is transferred directly into the proper account with almost no manual intervention needed. This also makes it cost effective.

If your business is just beginning to research ACH processors, consider contacting the financial institution where your accounts are held. The customer service representatives are usually familiar with the various business services and may be able to provide you with a list of providers or some recommendations on how to start your search. They may even have a list of questions to ask. The primary role of third party processors is to receive files in the approved format from the Originating Depository Financial Institution (ODFI), process them and deliver them to the Receiving Depository Financial Institution (RDFI).

Not all ACH Processors are created equal. The type of services offered and processes used to complete transactions vary from one firm to the next. Choose an organization that has a history of providing quality customer service. The products they utilize should simplify your day-to-day duties rather than complicate them. Secure batch file processing, web payments and real-time processing are points you should ask about before signing an agreement. The Automated Clearing House network allows electronic transactions to be completed quickly and efficiently. Businesses that utilize the network can receive or send payments and know that the funds are being transferred securely.

Payment Processing – What Happens When You “Swipe”

2010-01-20T08:04:00.000-08:00

You go into your favorite coffee shop, order your drink, grab a muffin, and swipe your card. This is your morning routine, but have you ever considered how the money gets from your account to that of the coffee shop? Payment processing is the method used to enter details of a credit card or check into a system that allows funds to be verified and removed from one account and put into another. There are several steps taken in just the few seconds it takes to swipe and confirm. When the card is run through the point of sale machine, the magnetic strip on the back is read.

This strip contains information specific to your account, such as name, billing address, account number, card verification code, and expiration date of the card. Once the card is swiped through the point of sale machine, the amount of the sale is entered and a request is sent for authorization to your bank. If there are sufficient funds in the account, the transaction is approved. Most businesses batch their transactions for settlement. Once they have been submitted, the funds are usually in the coffee shop’s account the next business day. Each merchant who participates in payment processing has a responsibility to the cardholder.

The Payment Card Industry (PCI) Data Security Standards are the requirements that vendors must adhere to when handling credit card information. It also mandates the classification of merchants and creates validation methods to confirm compliance in payment processing. There is certain information that they are prohibited from storing, either directly on their systems or by using third party services. This helps to ensure the safety of customer information. Merchants are highly motivated to do so as they are held responsible for damages or liability that occurs as a result of a data security breach. The “Standards” apply to all merchants and third party providers that have access to customer data.

If any of these organizations are found to be out of compliance with the PCI Data Security Standards, significant fines can be levied as a result. To become part of a payment processing program, merchants sign a contract with a bank or other financial institution. If they are found to be out of compliance, not only are they fined, the financial institution is fined. The contracts obligate them to reimburse this institution for fines in addition to paying the fine for themselves. This furthers their motivation to maintain high levels of security for your personal and financial data.

For more information please contact us at www.NationalProcessing.com or call at 800-403-8182.

Check Processing Services – Saving Sales and Increasing Revenue

2010-01-13T08:41:00.000-08:00

We are in the midst of what is referred to as the Internet Age. It is a time when most people are using online services to do their shopping, pay bills and achieve college degrees. Even though millions of people are taking steps to become paperless, there are still consumers who prefer to use checks to pay their bills. This is especially true when talking about in-person, point of sale purchases. If your business is still struggling with the traditional method of processing checks, you may want to consider using a company that specializes in check processing services.

Accepting checks can be cumbersome for the retail store. In some cases, it is necessary if they want to encourage sales. There are many advantages to using check processing services. Most can offer organizations different options that will meet their volume and pricing needs. Remote deposit capture, which was made a legitimate part of the financial industry by the passing of the Check 21 Act, allows checks of all types to be deposited remotely. The service company you select can provide you with a check imager and software that ensures secure access to the proper gateway.

Electronic Check Conversion (ECT) provided by check processing services makes it fast and easy to accept checks. The check is converted to a paperless format and moves funds from the consumers account to yours with the same security and speed that debit and credit card purchases use. This type of program eliminates the need to wait for the funds to be confirmed and clear before the transaction is completed, which can take several days. Returned checks and the fees that accompany them are removed, reducing much of the cost related to check acceptance. Once the customer’s information is entered into your point of sale system, authorization is received within seconds.

During those few seconds, millions of records are accessed nationwide to confirm that funds are available and that there are no issues related to unpaid checks. This helps your business defend against fraud as well as reduces the fees that accompany non-sufficient funds. Swiping a debit or credit card for many people is the fast, convenient means to make their point of sale purchases. However, not all consumers are comfortable with that option. As a result, many still use checks to pay for purchases. Using check processing services provides security and protection to your business and decreases the time frame for settlement.

EFT – Reducing Fees, Increasing Efficiency

2010-01-05T09:59:00.000-08:00

EFT or Electronic Funds Transfer is a paperless method used to transfer funds from one account to another. The accounts do not need to be at the same bank for this to occur. Although the term refers to any type of paperless transfer of funds, one of the most widely used transfer programs is for Direct Deposit. An employee’s paycheck is deposited directly into their account without the need for checks to be printed or a trip to the bank to be made. This is cost effective for employers as well as convenient for the employees. These transfers take place through the Automated Clearing House (ACH) network.

This network, comprised of 34 regional associations, allows for many types of EFT. In addition to direct deposit, charges made to debit and credit cards are routed from the consumer’s account to the vendor. Electronic transfers of recurring payments can also be made. This includes monthly membership fees, utility bills and mortgage payments. It is becoming increasingly more common for businesses to pay their vendors via electronic transfers as well. Payments are received more quickly and processing costs less. It has become standard practice for many businesses to arrange for their taxes to be paid electronically.

One of the primary benefits to using EFT is that it is less expensive than traditional payment methods. There is no manual sorting of checks or deposit slips that need to be made out. As a result of automation, there are fewer personnel requirements. This also translates to fewer banking errors being made. Another benefit is that electronic transfers are convenient. Bills can be paid, funds transferred from one account to another, and accounts balanced without a trip to the bank. No longer does time need to be spent making out checks, addressing envelopes, buying stamps and going to the post office.

EFT can drastically reduce the amount of time it takes for transactions to be completed. Whereas it used to take up to two weeks for checks to work their way through the system, it can now be done in a few days. This helps cash flow to remain steady, especially when referring to the scheduling of recurring payments. Consumers can ensure their payment is made on time so that late fees are not assessed and ask for confirmation that payment has been received. Businesses can plan for revenue, allowing them to take a more active role in their financial planning strategies.

Merchant Account – Getting the Most Out Of Your Merchant Account

2009-12-31T19:23:00.000-08:00

One of the most important things that you, as a small business owner can do for your business is establish a merchant account with a payments processing provider. Setting up an account will allow you to accept payments from your customers from a variety of different sources, including credit cards, debit cards and ACH payments. Today’s consumer appreciates having flexibility in how they pay for the goods and services that they use and are more likely to patronize a business that allows them to use the payment method of their preference. If you want to see your business grow, this is an important step to take.

Today’s uncertain economic times have led people to use alternative methods of payment for different goods and services that they purchase. A business with a merchant account has the opportunity to capitalize on those different payment methods and reach a wider range of consumer. Studies show that consumers that use credit cards to pay for their transactions typically spend more than they do when they are purchasing something using cash or a check. The knowledge that they can defer the payment makes them more amenable to spending a little extra, which benefits you, as a small business owner.

Businesses looking to establish a merchant account have many payment processors available to them. Some specialize in providing accounts to ecommerce or internet businesses, while others offer premium services for brick and mortar or face to face businesses. Most processors will provide some sort of online reporting portal to enable their merchants to access their account, in real time and see what payments have posted to their account. The wide variety of processors helps keep credit card rates competitive, which serves to your advantage as a small business owner. Shopping around and finding the best rate for the best bundle of services is a really important exercise in getting your business up and running with electronic payments.

Another important determination that you need to make is whether you want to accept more than just credit cards with your merchant account. Check acceptance, debit cards with a PIN number and even EBT are valuable services that you can have bundled into an electronic payments account. Most processors can advise you on what types of payment are most common for your business type and help get you pointed in the right direction, so that you can get rolling with electronic payments.

For more infomation please contact www.NationalProcessing.com or call us at 800-403-8182.

ACH Payment Processing – Secure, Easy, Convenient

2009-12-24T08:35:00.000-08:00

For business owners looking to give their customers the most options when it comes to payment methods, it makes good sense to offer ACH payment processing. Fast, secure and reliable, ACH payments are a quick and easy way for your customers to get funds to you and an affordable way for you to give them flexibility. Suitable for one time payments or recurring auto drafts, these payments are a great way to help any business grow in today’s uncertain economy. Many customers prefer to use pay via ACH over any other method, so offering them is a great way to encourage new customers to patronize your business.

An ACH payment is an electronic form of payment that draws fund directly from one bank account to another bank account. Similar to a check, it offers both the payer and the payee security and peace of mind, knowing that their funds are being transferred through the secure Federal Reserve and Electronic Payments Network. Called an automatic clearing house, the Fed’s secure network takes all incoming ACH requests and routes them to and from the proper banks. ACH payment processing allows your customers to pay you today, with cash from their bank account, rather than having to withdraw cash, write a check or use a credit card, which will accrue finance charges.

For your customers, ACH payment processing offers many benefits. Not having to write a check means that they can save on postage and the worry that the check might not make it to its intended destination. Because an ACH transaction is automatic, and is coordinated with their bank directly, there is also no risk of a payment overdrawing their account. Opting for an ACH payment also means that your customers can avoid having to use their credit card to pay for goods and services, which saves them on interest and finance charges that would normally accrue.

As a business owner, offering ACH payment processing also protects your interests. Not having to take checks means no more bounced checks. Not having to take a credit card payment means you don’t have to pay interchange on the transaction, transaction fees on an ACH payment are typically much, much lower. If you are a service provider, being able to offer recurring payments for services that you offer, such as cleaning services, monthly pest control or childcare helps ensure that you get paid on time, every month.

Electronic Payment Processing – Opening Your Doors to More Customers

2009-12-19T09:28:00.000-08:00

The question “paper or plastic” used to refer strictly to what kind of shopping bag you wanted to use when you checked out at the grocery store, but today it means much, much more. In today’s business landscape, paper or plastic more frequently refers to payment method, meaning whether your customer wishes to pay by cash or check – paper – or by credit or debit card – plastic. Increasingly, more and more consumers are option for plastic or even none of the above, favoring methods of electronic payment processing for the goods and services that they purchase and pay for on a day to day basis.

The implication of this for merchants is huge. If you own a deli or another kind of face to face business, chances are that you started out by accepting only cash for payments. This may have worked fine in the beginning, but as your business expands, you may well find that you need to accept credit and debit cards in order to continue growing your customer base. Many people simply do not carry cash anymore, so if you want to be able to cater to those people, you will need to accept credit cards. Electronic payment processing will allow you to accomplish this.

Other kinds of businesses can profit from electronic payment processing as well. Ecommerce businesses have long accepted cards as they have very little other means of receiving immediate payment. Today, more and more of these businesses are also accepting ACH payments from their customers, so that they can do business with consumers who don’t wish to use a credit card. An ACH payment is a direct withdrawal from a bank account, through the Federal Reserve Banks’ proprietary secure network. Many merchants use this to allow their customers to set up recurring monthly payments.

Growing your business today takes a lot of patience and hard work. Without expanding the payment options that you offer to your customers, you may well find that growth becomes stunted. Electronic payment processing provides you with a means of offering your customers with multiple ways to do business with you. The more options you offer, the more customers your business will appeal to. The more customers your business appeals to, the more business you will do. The more business you do, the bigger and better and stronger your business will grow, and at the end of the day, isn’t that what we all want?

Check Processing – Improvements in the Electronic Age

2009-12-09T07:59:00.000-08:00

Check processing used to use considerable resources for merchants to manage quickly and efficiently. Even with teams of data entry personnel and trips to the bank, it still took several days to finalize a transaction and fund the appropriate accounts. Once a check is written and given to a merchant, it must make several stops before being debited, unless it is drawn from the bank that the merchant uses. It first goes to an intermediary bank, as banks do not communicate directly with each other. The check is added to a batch and entered with hundreds of other checks.

The intermediary bank, which may be a Federal Reserve Bank, a clearinghouse or correspondent bank, will verify that the account is active and that the dollar amount on the check is available. If the transaction is approved, the funds are removed from the consumers account and credited to the merchant’s account. If there are insufficient funds, the check is returned to the merchant. This entire check processing procedure may take up to ten business days. The lag time frequently causes issues in both the consumer and merchant accounts as there are bank fees charged each time this occurs.

Electronic check processing is considerably faster than processing paper checks manually. The electronic transfer of funds, managed by an automated clearing house system is more efficient than the traditional method, as the funds are submitted for processing almost immediately, and if available, will be transferred to the appropriate merchant account. For consumers, it is more convenient, as they do not need to take the time to fill out an envelope and mail payment each month. For businesses, it can reduce bank fees for insufficient funds and is less of a drain on resources. Electronic checks are processed through software developed for this purpose.

Check processing is now automated and the personnel necessary to complete the transaction have been reduced. To institute electronic checks into your payment procedures, there are three steps. First, notify your customers that their paper checks will be processed electronically. Next, convert paper checks into ACH-based electronic payments. The final step is to create an ACH file and present it to your payment processing company for settlement and funding. The process, though similar to traditional methods, has been reduced to two to three days. For more information on how electronic processing can help save your business time and money, contact National Processing or call 877-458-3323

ACH Processors -- Quality, Certified Service

2009-12-01T07:33:00.000-08:00

The main role of ACH processors is to receive files from the Originating Depository Financial Institution, or ODFI, process them, and deliver them to the Receiving Depository Financial institution. They maintain real-time reporting on many aspects that pertain to each transaction. Processors are required to uphold the rules and regulations set forth by NACHA, the National Automated Clearing House Association. These rules and regulations, which constantly undergo review and revisions, were created to protect the consumer as well as the merchant. There must be authorization from the receiver allowing a deposit or withdrawal into their account.

Most businesses benefit from using ACH processors to electronically accept payments. One of the more recent rulings from NACHA is the approval to electronically accept transaction deposits via phone. ACH processing enables merchants to accept payments from checking and savings accounts as well as debit or credit cards. They have reporting tools and fraud protection features that protect the merchant from bounced checks and closed accounts. As the processors work real-time, verification is almost instantaneous. Utilizing this method can be less expensive than credit cards. If your business collects recurring monthly payments, there are large transaction fees each month.

Using ACH processors to accept payments electronically saves time and expense, especially when compared to mailed invoices and payments. If electronic bills are sent, there is no postage, envelope or paper involved, hence reducing the manpower and expense of outgoing mailings. If electronic payment can be accepted, funds can be verified immediately and the transfer from one account to the other is quick and easy. There will be no checks returned for insufficient funds, or bounced check fees. It is not only external customers who benefit from electronic payments. Your employees will also benefit. Paychecks can be deposited directly into their bank accounts.

This saves the time and money associated with printed checks. If you are beginning your search for quality ACH processors, you may want to contact your bank. Most customer service representatives are familiar with business services and will be able to provide recommendations and possibly the names of several providers. Transactions sent electronically will work exactly like traditional forms of payment. When the dollar amounts are cleared, the bank credits or funds the appropriate account. If there are insufficient funds, you will be notified. National Processing provides services and support to businesses that wish to accept electronic checks, web and credit card payments.

ACH – Automated Clearing House

2009-11-24T14:50:00.000-08:00

ACH or Automated Clearing House is a secure electronic network for financial transactions throughout the United States. It is the storehouse for all electronic fund transfers that occur nationwide. When an electronic payment is made, whether it is the result of a direct deposit into an account, debit card payment, wire transfer or a mortgage payment pulled directly from a bank account, this system is used to connect all banks in the national banking system. It was established in 1972 in response to the sudden and rapid growth in the number of personal checks being written and processed.

The personnel required to manage and process all payments were a tremendous drain on banking industry resources. The goal was to maintain a quick response time between consumer and vendor. A Special Committee on Paperless Entries (SCOPE) was created to explore the feasibility and necessary legal requirements for developing and implementing an ACH system. Though the idea originally began with in California, other groups began to form by 1974. As a result, the regional associations entered into an agreement with the Federal Reserve Banks to provide the facilities, equipment and personnel to operate and manage the new automated networks. Private networks were also formed.

It was soon apparent that there needed to be one central unit to coordinate the efforts of the regional ACH systems and to standardize processes. The National Automated Clearing House Association (NACHA) was the result. All regional systems were electronically linked nationwide, in 1978. The primary benefit was a reduction in personnel cost and in increase in productivity over the manual paper process. As the number of businesses in the U.S increased, the networks continued to grow. Each regional network had similar responsibilities. They focused on editing entries from other networks or financial institutions and submitting them for processing.

Since the system was first established and implemented, there have been updates to many of the original processes. New banking laws have been passed and the number of transactions handled daily has continued to grow. The Federal Reserve Banks are the largest clearinghouse, processing more than half of all commercial transactions. The private sector ACH associations process the rest. National Processing was established to help businesses process checks, credit cards and web payments. They offer secure batch file processing, virtual terminal internet based terminals and real time payment processing. These products offer fast service and low rates to help make businesses run more efficiently.

Credit Card-How to Get Paid Automatically Over the Internet

2009-11-12T08:58:00.000-08:00

The most popular method of payment when doing business online is, without a doubt, a credit card. Accepting these types of payments has many advantages to the customer which, in turn, ends up ultimately benefiting you and raising your profits. By integrating the most accepted payment option for your online business, you are now expanding the amount of customers with which you can do business.

One of the most helpful advantages to accepting credit cards is automatic payment to you. Although there are a few options for accepting checks online, you are still required to wait for the payment to clear before being deposited into your account. Alternately, credit card companies are the ones waiting on payment instead of you. There is no longer the worry of bounced checks and the fees associated with them. If the customer does not pay their bill on time, you are not the one left to collect payments. Other than getting your money guaranteed and on time, you are saved the headache of tracking down and billing for recurrent or delinquent payments.

Many people do not feel comfortable sending check information over the internet. As this information can be used in order to access bank information, many customers feel more secure using a credit card. If the account number is compromised, the customer is not held responsible for fraudulent charges. Also, if a product is never received or is found to be in poor condition, they have the ability to appeal the charge. Another one of the security features offered is the ability to use a temporary account number. These linked to the customer's account and are supplied by the charge card company. The number being sent over the internet is deactivated once the purchase is made. Therefore, even if someone got hold of the temporary number, they are unable to make unauthorized purchases.

Other than the added security that a credit card offers, it also allows the purchaser to place an order with you no matter what time of day or where they live. This means freedom to choose your own business hours and the ability to cut down on the amount of time you need to work. Payments will roll in even while you are sleeping and you can process them when and where you choose. Additionally, you receive a report with all of your sale history automatically. This saves lots of time when it comes to bookkeeping. It is no doubt that credit cards save you time and expand your business while cutting down on your workload.

For more information please contact us at 877-458-3323 or by form at www.nationalprocessing.com

Virtual Terminal-An Effective Tool to Boost Online Earnings

2009-11-04T07:53:00.000-08:00

An effective way to increase your sale profits is by using a virtual terminal for your online business transactions. By doing sales online you can reach a far greater number of people than by simply having a storefront alone. If you combine the two venues by offering the products you are already selling at your store to an online audience as well, you will see your profits increase tremendously. However, there are a few differences to account for when doing business online versus at a store. As you will not have a credit card to process nor have a swipe-machine to process it with, you will need an alternate means of accepting credit transactions.

Instead of using a traditional charge card machine, when conducting business remotely, you will benefit from using a virtual terminal. Without having to buy or rent any equipment, the costs associated with these transactions are usually reduced. A virtual terminal enables you to accept credit card information quickly and easily by having the customer enter their contact and billing information onto a web page. By entering their own information, the client enjoys the freedom to purchase what they want and when they want it.

Being able to both purchase products and accept payments from anywhere and at anytime has many advantages. First, this means that you do not have to be there to accept payment. You are now free to set your own hours, ultimately allowing you to make money even when you are not working. It also opens up your business to those living in virtually all areas of the world. No matter what region or time zone customers live in, everyone has immediate access to make a purchase and to have it processed quickly. Alternately, if the customer happens to not have access to a computer, you can still utilize a virtual terminal by entering the information given to you through a phone or fax order.

Other than increasing your customer base, a virtual terminal can also help your expanding business to run more smoothly. You can easily issue refunds when necessary, check on pending purchases, and receive concise transaction activity reports. You can even reduce the amount of declined transactions as you have the ability to authorize the card before the purchase goes through. Clearly cutting down on lost funds and costs while increasing your number of customers, virtual terminals significantly boost your bottom line.

For more information please contact one of our representatives at www.nationalprocessing.com or calling 877-458-3323.

Online Payment Processing – Why You Need It on Your Site

2009-10-27T10:17:00.000-07:00

If you want to bring your business to the next level, you should consider opening up an Internet-based store with an online payment processing system. Studies have shown that more and more people are spending their bucks online. This means that if you follow this trend and set up a business on the Web, you will find yourself expanding your customer base and earning more. However, it is important to stress that the customer is always right even on the Internet. This means that you have to find ways, including choosing the right online payment processing, to make things easier for your customers.

Aside from making sure that your online store is user friendly and easy to navigate, another thing that you have to ascertain is the reliability of your online payment processing system. Net users are more impatient because they know that other than your website, there are hundreds of other online stores that will provide the same products or services as you. Thus, if your online payment processing network fails, you stand to lose your customers. Even if your electronic payment network fails once, some people may blog about how unreliable your online store is. This means that you stand to lose a lot more clients if you do not choose your online payment processing system.

Ease of use is something you should also be looking for in an electronic payment system for your online store. You should be able to integrate different payment options (such as credit cards, electronic checks, debit cards and others) into one network so you would not have any problems. Some people are not computer savvy so online payment processing systems that will enable you to accept different types of payments is really helpful in your business. Besides, as an owner, you should be concentrating on marketing your store, managing the operations of your business, and developing your product or service to make your customers happier with what you are offering.

Opening an online store does not really have to be heavy on your pockets. There are so many ways in which you can bring down the cost of operating an Internet-based store. One of the things that can help you save a lot of money is by looking for an online payment processing system that is affordable. If you do not have to worry about huge transactions fees from your online payment processing system, then you can give your customers a more competitively priced product or service.

How ACH Processing Works to Your Advantage

2009-10-22T09:03:00.000-07:00

How ACH Processing Works to Your Advantage

Not many are aware but every time people pay electronically, the one thing responsible for making transactions happen is ACH processing. ACH stands for Automated Clearing House. In essence, ACH processing is an electronic payment system or network that is utilized by government organizations, businesses, financial groups, and individuals. This network is capable of processing huge volumes of debit and credit transactions. So every time you pay for the clothes and shoes you purchased in the mall using either your credit or debit card, you should be thankful that there is an electronic network that makes things easier for both the buyer and the seller.

Before you can fully understand how ACH processing will benefit you, it is better to determine its uses first. The primary use of ACH processing is to enable direct deposits of social security, payroll, tax refund and other government benefits to individuals. This is also important in the processing of direct payments of utility bills, mortgages, insurance premiums, loans and other consumer bills. You should also know that e-commerce, e-checks, and business-to-business electronic payments are all made possible through ACH processing.

But if there is one thing that must be emphasized, it is the fact that ACH processing benefits both big corporations as well as individuals. For one, this type of system makes payments and deposits happen more efficiently and faster as opposed to using paper checks. Besides, many people will agree that electronic payments can remove the hassles of paying your bills one by one. Aside from making things simpler, you also end up saving time and effort if you use your debit or credit card when paying for everything. In a place where mugging and petty thefts are common, using your credit card or debit card to purchase huge and expensive items is a lot safer than bringing cash, especially in places where paper checks are not honored.

As mentioned earlier, ACH processing can also benefit businesses and corporations. If your establishment is open to payment through credit and debit cards, more customers will be inclined to use your store or company instead of others that do not provide various payment options. ACH processing also helps big businesses recoup their money in a shorter period of time. This will surely boost their cash flow. Moreover, if companies use electronic checks, this will help improve their credibility, which is helpful in bringing more business and clients.

How does ACH work?

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An Automated Clearing House payment is initiated by receivers, people or companies authorizing a payment to be made to their accounts. After that, originators, the people or companies making the payments, prepare to make a payments by giving transaction information to an Originating Depository Financial Institution (ODFI). The information for specific payments goes to an Automated Clearing House operator, who passes it on to the financial institution with the account receiving the payment.

What is ACH?

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What is ACH?

Automated Clearing House (ACH) is an electronic system that processes financial transactions for people, companies, and government agencies in the United States and Canada. Most of the financial institutions in the country participate in the network.

Many rely on the payment system as a cheaper and faster way to process payments, as opposed to the alternative of using paper checks. ACH transactions are also cheaper than wire payments. These financial transactions could include debit card purchases, credit card purchases, direct paycheck deposits, bill payments, Social Security benefits, and payments on loans, to name a few.

This payment system is overseen by the Federal Reserve and the National Automated Clearing House Association (NACHA), a group of nearly 11,000 financial institutions and 18 regional payments associations. NACHA was formed in 1974 to create and enforce rules and regulations for the system.

A worldwide ACH network is in the development stages.