US electronic bank transfers made easy: ACH Payments in ezyCollect

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 online payment capabilities are built into a single accounts receivable system, so you can automate the entire ACH payment collection process.

How your customers can pay using ACH in ezyCollect Payments

Once you enable the ACH Payments feature in your ezyCollect account, your customers can set up ACH payments and settle their invoices in Simplypaid, our online payment portal. 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 processes the payment. Your customer will receive confirmation of the ACH transaction via email.

One-Click Payments for added convenience

The Simplypaid portal automatically saves the client’s ACH details from previous transactions, eliminating the need to fill out payment forms repeatedly. Choosing one-click payments keeps repeat transactions quick.

Choosing another bank account

Customers can use a different bank account for their ACH transaction if they don’t want to continue using their saved account. They fill out the payment form again and the transaction goes through.

Benefits of ACH Payments in ezyCollect

Easy set-up and management in Simplypaid

There is no need for your customers to use paper or phone authorisation. Instead, they set up ACH debit payments to you online in the Simplypaid portal, ready for automatic collection.

Customers self-serve in the Simplypaid portal, where invoices, statements and transaction receipts sit in one place.

And because every Simplypaid transaction syncs with the ezyCollect platform, your receivables stay up to date and your view of cash flow with them.

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 streamlines bank account verification and offers 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.