Overview of ACHPay
ACHProcessors was started as a part of an international provider of payment services and solutions. ACHProcessors have been providing ACH processing services since 2008. We are a third party ACH processor who works in collaboration with ODFI which is based across US and territories that come under the US. They work to provide a full-service ACH processing to merchants based in US spread over many different industries and sectors.
What Does ACH Mean
ACH stands for Automated Clearing House. These are a type of payments similar to Electronic Funds Transfer (EFT). These payments make the transaction of funds between US bank accounts easier than the paper-based methods that are traditionally used. This method of completing a transaction is also cheaper than the paper-based methods.
The term might seem unfamiliar to a layman but ACH processing has been around for 40 years being facilitated by the ACH network operated by Federal Reserve. This network is also regulated by the National Automated Clearing House Association (NACHA). These regulations define the ways according to which interbank electronic payments are completed for the depositary financial institutions that are part of the network.
For more information, visit ACH Payment Processing.