The use of paper checks is becoming increasingly rare. Consumer preferences toward digital payments are driving the usage of paper checks to historically low levels. However, in many cases, credit or debit cards may not be an option for your clients. eChecks allow business owners to receive payments directly from their client's bank checking account, even if they don’t own a credit card.
EChecks are simply electronic versions of paper checks. Customers still need their bank routing number, account number and payment amount, however, this information is entered electronically rather than on paper. This means you can process eChecks through the Automated Clearing House (ACH) network rather than physically going to a bank to make a deposit.
Any payment for which you would normally accept a paper check, plus subscription or recurring billing, eCommerce, online invoicing and other, are ideal candidates for eCheck payments. And while you may enjoy chatting with your local teller, eliminating a bank run will certainly save you time and money.
GlobalOnePay makes it simple and quick to get started. Not only will you remain competitive in a fast-paced market by accepting ACH payments, but you will also never lose a sale due to not being able to accept eChecks.
To expand your suite of payment options and start accepting ACH payments online or by telephone, contact us now.