check processing servicesBusiness owners who grew up in the 70’s, 80’s and even in the 90’s were used to paying all their bills by writing checks and paying extra for postage hoping the payment would arrive at its destination by the due date. Thus came the joke ‘the check is in the mail.’ Those were also the days when a person could purchase an item from a TV commercial – C.O.D. – cash on delivery. That’s a term you just never hear these days. Even with all this data there are still merchants who do not accept credit and debit cards.  This is really imperative if you need ach check processing services.

There is a report by the San Francisco Federal Reserve dated 4/29/2014 that shows consumers with household incomes from $25,000 to $200,000 prefer the use of debit cards over any other form of payment. In the Federal survey 43% of all surveyed said they preferred debit cards while 22% preferred credit cards. Many people are now paying all bills online so they know exactly when a bill is paid and credited. Even those older consumers who are sticking with their checking accounts no longer get copies of their cancelled checks every month. Any merchant who is not accepting credit and debit cards is missing the boat.

There is an additional benefit to having a merchant account where the business accepts debit and credit cards. In addition to cashing in on additional sales that would not be available to someone writing a check, the merchant has an option when he needs start-up capital. If he has accepted cards for at least six months he is eligible to apply for a merchant cash advance from a lender like First American Merchant Funding.

This is not a high interest loan with fixed high payments. It is simply the business owner selling a portion of his future sales at a discount. The beauty of this kind of arrangement is that the business owner does not have to complete reams of paperwork. There is no need for financials or tax returns. Even business owners with less than a 500 credit rating can be approved within 72 hours. A merchant cash advance can be the lifeline a cash-strapped merchant needs.

If you need help with setting up ACH Check Processing, contact the experts at First American Merchant Funding today!

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