E-Complish, Plaid partner to facilitate the ACH payments processing flow

Tuesday 2 March 2021 11:27 CET | News

E-Complish has teamed up with data network Plaid, a data network powering the digital financial ecosystem to facilitate the ACH payments processing flow for E-Complish customers.

Via this collaboration, E-Complish customers will be allowed to verify that a consumer's bank accounts are active and have an acceptable balance in real-time. With the help of Plaid's tech, E-Complish customers can enable their end-users to securely access their account information in compliance with NACHA guidelines.

The 'E-Complish-Plaid Account Verification Solution' creates compliance for the new ACH WEB Rule instituted by NACHA — the governing body of the ACH — to address online ACH transaction verification. The new ACH rule for 'WEB Transactions' requires an additional level of account verification for all online 'ACH Debit Transactions.' 

In addition, the integration of 'Merchant-E-Complish-Plaid-Bank' creates a four-way process of 'Bank Account and Balance Verification' that will reduce 'ACH Returns' and increase overall 'ACH Deposits' at a low cost for the merchant. It makes ACH compliance possible and reduces costs of 'ACH Returns' for 'No Account Found,' 'Invalid Account,' and 'Insufficient Funds’. 

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Keywords: E-Complish, Plaid , partnership, ACH, bank account, compliance, online payments
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce