Introducing ACH Payments via Authorize.Net
Many of our users from USA have been requesting us to enable ACH (Automated Clearing House) for their invoices in Hiveage, over the last couple of months. ACH or eCheck enables you to electronically collect payments by directly debiting your customer’s checking or saving accounts.
We are very much delighted to announce that Hiveage now supports ACH payments for your invoices via eCheck.Net by Authorize.Net.
A major benefit of ACH is its low transaction fees, compared to checks and credit cards. Depending on the credit card type you use, your credit card processing fee will vary within the range of 2-5%. For writing checks, a single person spends $4 to $20, a Wall Street Journal article points out. eCheck.net, the fully integrated ACH/electronic check payment method by Authorize.net will cost you only 0.75% per transaction.
ACH brings other benefits too. It has a faster settlement time compared to checks. Settlement period of a check is five to six business days whereas an ACH payment will take only three to four days. Payments done through ACH are more secured (direct transfers and no hidden ‘middleman’ processes) compared to misplacing and signature counterfeits of checks and credit cards.
Most importantly, ACH transfers are simple and convenient. As a business owner, you are giving your customers the freedom to make a one-time payment with ACH. It is a transaction taking place between two bank accounts so ACH saves you the trouble of following up with customers on payment failure, due to card expiry.
To enable ACH payments for your Hiveage invoices, please follow these instructions, and you’ll be able to accept your payments in no time! And as always, if you need any help, don’t hesitate to let us know.