Today the majority of payments are completed using credit cards, which eats away up to 1.5-5+% of gross sales.
On the other hand, electronic debits and credits on bank accounts can use the Automated Clearing House (ACH) system, which is processed through nearly all banks, and typically for a very small transaction fee ($0.10-$0.30 with no additional percentage fees). For example, monthly processing of just one hundred $100 credit card transactions could cost a business over $500, while those identical transactions would incur costs of less than $50 if processed through ACH.
Plus, if a company has to send money internationally, wires can often cost $20 to $30 each. International ACH processing allows the transmitting of these same funds to many countries at a far cheaper rate, around one-tenth of that cost. So far, international ACH transactions (IAT) can only be sent to certain countries with more advanced technological capabilities, but that list is growing every day.
Remaining Obstacles to ACH
Unfortunately, a huge obstacle remains – integrating a company’s existing systems with an ACH solution has been costly and time consuming. That’s where ACHeck21 comes in.
Our robust API lets you get up and running with a minimum number of endpoints, making integration incredibly easy. With our API reference docs and how-to guides, you’ll quickly see how a few well-designed endpoints can handle even complex payment needs.
Removing the Headaches of ACH
Payments are fraught with compliance headaches and complex infrastructures. The ACHeck21 solution lets you seamlessly hook into our platform while we help manage these complexities for you.
As mentioned, ACHeck21 provides easy-to-implement ACH payments options—one of the best parts is our ACH and Check21 API. We’ve spent the better half of the last decade boiling down a heavily regulated and complex payment process into a simple-to-use API, one that you can get started with immediately.
How do I know if the ACHeck21 ACH and Check21 API will work for my business?
If any of the following apply, ACHeck21 could be the answer for you:
- You are interested in using ACHeck21 as your third-party originator
- You already process ACH transactions and want to simplify or integrate systems
- You have a need for developers who are proficient at creating custom ACH and/or Check21 Solutions
Contact ACHeck21 today and learn about our fast-growing FinTech Cloud℠ – a single point of integration for any front-end transaction system.