Accepting checks was once a way for small businesses to be involved in their customers’ payment processes. However, with chip cards and online payments, checks are quickly becoming obsolete, and there are much better and more secure ways for your business to accept payments. ACH payments offer some improvements over accepting checks, including being kinder to the environment and the fact that they save time.
Here are some reasons why you might want to think about ACH payments for your business.
ACH payments offer reoccurring billing
If you have a number of clients who subscribe to your product or service, then ACH payments can be extremely easy for both them and you. Not only does it allow your company to provide additional protection for clients, but it also allows you to set up automatic payments, which can allow you to automate data, as well. For those with an ecommerce business, the storage of clients’ payment information can make the entire transaction process go more smoothly, while also streamlining your payment process.
ACH payments allow for greater integration
One of the most helpful features that ACH payments offer is the use of multiple payment methods. With a virtual terminal and integration with a variety of applications, you can provide more than one method of payment for clients. This can be useful if they choose to change from credit card payments to ACH—you do not have to create an additional client profile, but can automate applications to do this for you.
This can also help you when payments are declined or there is an issue with a card or automatic payments. Instead of having to go through this information yourself, you are alerted to any problems that might have occurred during the transaction process. This can save you time and help you to keep any customers who might abandon their payments because of problems with the payment process. Overall, this gives you more control over the entire process and more information as to whether you are meeting clients’ needs or not.
ACH payments can handle multiple types of transactions
A major benefit to incorporating ACH payments as a payment method is the fact that you can also have a number of methods on file for one customer. This means that you can easily switch from credit card payments to debit or from a checking account depending on the client’s needs. This adds flexibility for both parties, while also making it simpler to keep these changes within the transaction process in mind. Without an established software, you can find yourself forgetting to charge customers or charging them on the wrong type of account.
ACH payments can be the ideal option for small businesses who have a dedicated client base. As it becomes more and more common to have multiple payment options, you can benefit from setting up ACH payments in order to keep track your payment process and whether it is succeeding.