According to National Automated Clearinghouse Association (NACHA), the electronic payment association, the number of electronic payments processed via ACH (automated clearing house) in 2016 increased by 5.3 percent from 2015 volume and amounted to 25.6 billion transactions. A survey by AP Now showed that 83% of businesses in the United States use ACH to varying degrees. Over half of the companies surveyed say that they make 75% of their B2B payments from their businesses’ checking accounts. According to Business Insider only 33% of people under the age of 30, and 55% in the ages 30 to 49 own a credit card. This research shows that there are a sufficient number of people who don’t own a credit card.
There are many industries where ACH comes in handy – a cleaning company billing their clients bi-weekly, a property management firm collecting monthly rent payments, a grocery delivery service charging weekly, a supplier paying a business on a recurring basis and many others. It`s a secure and convenient alternative to outdated paper checks. ACH works very well once an ongoing business relationship between a business and its client has been established.
Learn more at the Card-Not-Present Expo, the fastest growing event in the world at the intersection of security, e-commerce, software, mobile, retail and payments. Our team looks forward to meeting you and invites you to enjoy a discounted registration.
Tedd Huff, VP of Products, is a 19-year veteran of electronic payments, providing businesses with strategic and tactical direction by enabling a value-driven user experience. His goal is to simplify the complexity of payments and promote growth in emerging markets through fields such as mobile payments, e-commerce solutions, online fraud prevention and security. Tedd has headed a FinTech startup and delivered innovation and process improvements for multiple dominant payment organizations. As Vice President of Product for GlobalOnePay, Tedd heads up a team of global payment specialists, helping businesses grow faster by accepting a wider range of payments from virtually any market in the world.