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Real-Time Payments for Merchants: High Risk ACH Processing

Speed is everything these days, and payments can’t stay ignorant towards this growing trend. Currently, the desire for faster or real-time transactions is a hot-button topic in the payments space. In the U.S., the demand for faster payments is strong. Let’s dive more into the topic, as well as discover exceptional high-risk ACH processing for your business.

High-Risk ACH Processing & Real-Time Payments

Real-time payments are also called faster payments. The U.S. Faster Payments Council describes them as payments that allow you to transmit and get funds in real-time or in near-real-time.

In 2018, same-day Automated Clearing House (ACH) got new capabilities, thus allowing for electronic payments to be debited right from a customer’s account. Later, Walmart and Target asked the Federal Reserve to provide a payment processing solution that could enable merchants to receive their payments faster. Same-day ACH and real-time payments are examples of such solutions in the U.S.

Specifically, same-day ACH allows funds to reach the recipients by 5 p.m. local time if disbursements were sent by the daily cut-off times. As for real-time payments, thanks to this type of payments, businesses are able to process funds disbursement to post in real-time or near-real-time to the given account. Besides, real-time payments allow the recipient of the funds to access his/her money 24/7/365.

It’s worth mentioning that, with the growth in same-day ACH services, the demand for real-time payments has increased to a great extent. Importantly, real-time payments can contribute to the growth of merchants’ businesses since they drive loyalty and boost satisfaction with customers.

Don’t you think it’s high time you used more advanced payment processing solutions for your business? If you’re a hard-to-approve merchant in need of high-risk ACH processing, a true high-risk payments expert like First American Merchant can help you take your business to new heights without difficulty. FAM knows the pain points of high-risk businesses best of all and is ready to offer you the cheapest rates in the industry.

Real-Time Payments for Merchants

The growth of real-time payments market is based on several factors. On the one hand, smart devices are getting more adopted all over the world. On the other hand, online retail commerce is flourishing around the globe. Consumers are more dependent on their smartphones, digital wallets, tablets, and the web to make payments than ever before.

The retail and eCommerce applications are playing a dominant role in today’s real-time payments industry. To avoid staying behind the competition in the modern market, the U.S. market can’t do without faster payments. Otherwise, it won’t be able to meet the expectations of modern consumers and businesses.

Real-time payments directly impact workers and the economy as a whole. They come with several benefits across demographics, such as:

  • Speed and Convenience
  • Ease of Use and Efficiency
  • Predictability

To sum up, the world is getting closer and closer to the real-time payments ecosystem. So, follow the latest trends in payments to allow your card-based transactions to move nearly as quickly as cash moves from one person to another.