The collaboration is expected to help merchants, particularly those in sectors such as coffee shops and quick-serve restaurants, reduce payment processing costs and improve their financial efficiency. According to the official press release citing data from nacha.org, small-value transactions, such as those in the quick-serve and coffee shop industries, have not widely adopted Automated Clearing House (ACH) payments due to operational difficulties and limited accessibility.
While ACH payment methods are commonly used in other sectors, handling over 30 billion transactions in 2023, these options have not been available to businesses that process low-transaction value payments. This new partnership between Ansa and Plaid aims to change that by making ACH funding an accessible option for these types of businesses.
The integration of Plaid’s pay-by-bank feature into Ansa’s digital wallets allows merchants to benefit from reduced transaction fees and improved margins. Ansa's platform includes an incentive system that helps businesses encourage customers to use preferred payment methods, such as ACH, through various rewards and offers.
Officials from Ansa explained that this collaboration aims to address specific challenges faced by merchants. They noted that for businesses like coffee shops, where a USD 4 purchase could result in significant processing fees, the ability to offer ACH funding in digital wallets will lead to meaningful cost savings.
Ansa's solution enables businesses to create programs that incentivise wallet funding while rewarding loyal customers. The system also streamlines the checkout process with tap-to-pay functionality and embedded rewards, which aim to provide an enhanced customer experience and increased customer lifetime value.
Representatives from Plaid highlighted that the collaboration provides merchants with tools to reduce costs and increase customer loyalty. They emphasised that introducing pay-by-bank features can help reduce the friction in payment processes, making it easier for consumers to adopt these solutions.
Ansa provides digital infrastructure for embedded customer balances, offering customisable payment solutions that were designed to help merchants improve profitability. The company also helps brands to manage the regulatory and compliance aspects of customer balances while focusing on business growth. Ansa is backed by investors including Renegade Partners and Bain Capital Ventures and has raised USD 19.6 million at the time of writing.
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