Short for Automated Clearing House, ACH is an intra-bank payment network used to send and receive funds electronically within the United States. Since launching in 1978, the ACH network has enjoyed exponential growth — largely due to convenience and cost.
Electronic payments sent through ACH are:
- Easier and faster to process than traditional paper-based checks
- Substantially cheaper than conventional credit card processing
Because of these advantages, current transaction volume over the ACH network exceeds $40 trillion annually.
However, many companies have difficulty qualifying for ACH processing because banks deem them as a high risk merchant.
Businesses in this category include:
- Startups or those with insufficient credit history
- Those in high risk industries
- Businesses with a history of payment fraud or abuse
Depending on the risk classification of your business, you may be tempted to explore alternative payment solutions such as offshore merchant accounts, instead of a high risk ACH account.
However, at Performance Card Service (PCS), we specialize in high risk ACH processing for businesses that might not normally qualify for payments through the Automated Clearing House network. In addition to sending and receiving electronic checks, our high risk ACH payment processing solutions enable your customers to use their debit and credit cards when making purchases.