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US electronic bank transfers made easy: ACH Payments in ezyCollect

by | Nov 14, 2023 | 0 comments

Faster payments mean better cash flow for any business. Here at ezyCollect, we hold this principle close to our hearts, and now, we’re introducing a new payment option that will improve your payment collections in the US.

Businesses in the US can now accept ACH payments through ezyCollect Payments and efficiently manage them using ezyCollect’s accounts receivable automation platform.

Understanding ACH Payments

ACH, short for Automated Clearing House, is a network facilitating electronic money transfers between bank accounts across the United States, governed by Nacha. In essence, ACH payments are electronic bank-to-bank transactions conducted through the ACH network, bypassing conventional card networks like Visa or Mastercard.

Among the benefits of ACH payments are lower fees vs credit cards and a faster turnaround time compared to traditional paper checks.

The challenge of accepting ACH Payments

While ACH payments offer substantial advantages, navigating the process can be challenging for businesses. Typically, businesses arrange ACH payments directly through their bank, involving financial documentation and adherence to Nacha’s specified file format. Many businesses, however, prefer the convenience of Third-Party Payment Providers (TPPPs) to handle the complexities associated with ACH payment collections.

ezyCollect simplifies ACH Payments

That’s where ezyCollect comes in. Our integrated online payment capabilities, seamlessly woven into a centralized accounts receivable system, empower you to automate the entire ACH payment collection process.

How your customers can pay using ACH in ezyCollect Payments

GIF animation showing the steps to completing an ACH payment in ezyCollect Payments or SImplypaid payment portal

Once you enable the ACH Payments feature in your ezyCollect account, your customers can effortlessly set up ACH payments and settle their invoices through our user-friendly online payment portal, Simplypaid. Here’s a simplified guide:

  1.  Select ACH as the Payment Option: Customers choose ACH as their preferred payment method for an invoice or one-off payment.
  2. Simplypaid Login: Users enter their Simplypaid login details to proceed with the payment.
  3. ACH Payment Form: First-time users complete an ACH Payment Form and connect their bank account for verification. The system promptly attempts to verify the account. If the desired bank account isn’t available for selection, customers can choose a micro-deposit from their bank. They verify this deposit amount and await the bank’s validation of their account.
  4. Payment Processing: Once connected, customers can conveniently pay their invoice, and the system will seamlessly process the payment. Your customer will receive confirmation of the ACH transaction via email.

One-Click Payments for added convenience

 

screenshot of Simplypaid payment portal showing one-click payments button for ACH payments

The Simplypaid portal automatically saves the client’s ACH details from previous transactions, eliminating the need to fill out payment forms repeatedly. Opting for one-click payments streamlines the process, ensuring swift and hassle-free transactions.

 

Choosing another bank account

GIF animation showing process of choosing another bank account for ACH payment in ezyCollect Payments

Customers can use a different bank account for their ACH transaction if they don’t want to continue using their saved account. Simply filling out the payment form allows them to proceed with their transactions seamlessly.

Benefits of ACH Payments in ezyCollect

Easy set-up and management in Simplypaid

There’s no need for your customers to use paper or phone authorization. Instead, they can easily set up ACH debit payments to you online via the Simplypaid portal, streamlining the process for automatic collections.

The Simplypaid portal provides a seamless experience to your customers, allowing them to self-service by accessing invoices, statements, and transaction receipts in one centralized hub.

And because all Simplypaid transactions sync seamlessly with ezyCollect platform, your receivables are always up-to-date, giving you a better picture of your cash flow.

Automated payment allocation on your ERP

ezyCollect integrates with your accounting software/ERP, automating the reconciliation of ACH transactions. When your customers make ACH payments, ezyCollect takes the heavy lifting off your plate. It creates the payment records and ensures they get matched with the correct invoices – you don’t have to stress about doing it all manually. This means less work for you and fewer chances for mistakes.

Lower Transaction Fees

Enjoy cost savings with ACH payments, as they typically incur lower fees than credit card transactions.

Speed and efficiency vs paper checks

Say goodbye to the delays associated with traditional checks. ACH payments are electronic, enabling faster transactions than the physical process of mailing and depositing paper checks.

Enhanced customer experience

Provide your customers with their preferred payment option in the US, improving overall satisfaction. Simplypaid’s features further enhance convenience by streamlining the verification process and providing one-click payments.

Direct and easy payments

ACH payments cater to anyone with a US bank account, ensuring straightforward and inclusive transactions.

Secured transactions

You and your customers can rest easy knowing that your ACH transactions are conducted securely through the trusted ACH network.

Get started with ACH Payments in ezyCollect

ACH will soon be available in ezyCollect. Register your interest now to be among the first to learn more about using this feature in ezyCollect.

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