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BANKFIRST Selects eFunds ACH Processing Services

Friday 21 November 2003 10:20 CET | News

BANKFIRST has chosen eFunds Automated Clearing House Processing Services (ACHPS) to support their corporate ACH business. eFunds ACHPS solution will allow BANKFIRST to process a higher volume of electronic payment transactions via the ACH Network, extending the banks reach into the merchant and corporate customer markets.During the first quarter of 2003, NACHA estimates that more than $48 billion in online bill payments were made via the ACH Network payment system, which represents half the amount of all electronic payments in 2002. One of the largest electronic payments networks in the U.S., the ACH Network is used by more than 115 million consumers and four million businesses, and is universal in its acceptance by more than 20,000 financial institutions. The annual payment volume over the ACH network is expected to double by 2006 according to NACHA.

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Categories: Payments & Commerce | Payments General
Countries: World
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