GlobalOnePay launches ACH payment processing solution

Tuesday 10 October 2017 13:08 CET | News

GlobalOnePay, a division of Pivotal Payments offering global omni-channel payment processing technologies and merchant services, has launched of its ACH (Automated Clearing House) payment processing solution.

GlobalOnePay is incorporating ACH into its line of online payment processing tools in order to meet the growing demand for this form of payment.

GlobalOnePay’s ACH processing is built into its payment gateway and integrates with every shopping cart for eCheck acceptance. An eCheck plays a similar role as its paper counterpart; however, funds are withdrawn digitally from a buyers checking account and transferred over the ACH Network. Once funds clear, they are deposited into the merchants bank account.

Although credit card usage is steadily rising, nearly one third of all Americans still do not own one. EChecks provide business owners the flexibility of receiving electronic payments, regardless of whether or not their clients own a credit card. And unlike paper checks, electronic checking allows merchants to save time and money by foregoing trips to the bank and through faster clearing of payments. Another benefit of transferring funds through the ACH network is for large volume purchases; eChecks can bypass limits imposed by card brands for credit card transactions.

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Keywords: GlobalOnePay, ACH, payment, eChecks, transaction
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech