Why ACH payments?
One of the largest and most popular payment rails in the United States, and according to Nacha, it grew nearly 12% in the past year to more than $61.9 billion. These electronic bank-to-bank transfers are affordable, quicker than check and open to all businesses. With the right partner, ACH spend also can generate significant rebate potential for your business, allowing you to realize efficiency and cashflow benefits.
What is Paymode-X ACH?
Paymode-X ACH payments are the industry’s gold standard, and have been for decades. Our secure network of 500,000+ businesses have paid and gotten paid to the tune of over $1 trillion over the past four years, all without a single incident of fraud. $1 Trillion processed. Zero fraud.
With Paymode-X, you’ll realize the speed and ease-of-use of ACH with rebate potential and fraud prevention layered on top of those well-known benefits. With check payments becoming less feasible and sustainable with each passing year, ACH payments can ensure business continuity and streamline operations.
Check payments can take several business days to actually get to your customer, and that’s assuming they’re not delayed or lost in the mail. Add in filling out and mailing checks and you have a recipe for a lot of time, nearly all of it wasted time.
ACH payments pick up your AP team’s speed significantly by simplifying processing and payment.
Paymode-X provides your accounts payable team with unmatched peace of mind. We validate and authenticate every vendor you enroll, we protect your accounts with multi-factor authentication, and we are constantly scanning for and reacting to new threats are they arise. That’s how we process more than $250 billion annually with zero fraud, including a significant number of ACH payments.
Checks don’t make money, they cost money to the tune of $5-9 each. You already have to pay your vendors, so why tack on the many additional fees checks bring?
ACH allows you to pay more affordably, but crucially, by enrolling vendors in our Premium ACH program you’ll realize significant rebates that can help AP generate real revenue for the business. Don’t just eliminate costs, generate revenue!
The time to switch to ACH payments is now
Whether you’re paying entirely by check or have begun modernizing your payment mix more ACH may be a strong fit for your business.
Reach out to us today to learn how Paymode-X ACH payments can change everything for your finance team.
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