What Is ACH And How Is It Related To An Online Merchant Account
An online merchant account is a business with an internet presence that accepts payments electronically.
If any business has an online merchant account they will need to have a system in place that will process various credit or debit card payments as well as online bank transfers.
This is a common account that accepts the payment from the customer and passes it on to the merchants bank account. This system is referred to as an Automated Clearing House.
An ACH is an institution that facilitates or assists in the transfer of funds from one financial institution to another. For instance, if you submit a check from another bank to your bank for payment, the check will go to the Clearing house in the area.
This intermediary body will authorize the payment that will be transfered to your bank account. It cuts out the hassle of you having to go to the bank whose check you have to get your cash.
Similarly, an ACH assists online merchant accounts to receive payments from any payment processing service such as VISA or MasterCard, even various online banks.
An ACH acts as the...
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