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Today, more businesses accept ACH payment methods than ever before.
In 2024, the ACH network processed $86.2 trillion in total payments value and 45.3% higher Same Day ACH volume
But what's causing this increase in adoption?
Although ACH is one of the oldest digital payment solutions, it’s being revitalized — and business owners realize this modernization translates to payment optimization.
This article explains how businesses can accept modern ACH payments to increase revenue, reduce processing costs, and improve customer adoption.
ACH payments are electronic funds transfers (EFT) from one bank account to another.
“ACH” stands for Automated Clearing House, a network operated by the National Automated Clearing House Association (NACHA). Businesses, third-party providers, banks and credit unions send and receive electronic payments through this ACH network.
Traditional ACH payments, like eChecks, require customers to enter their account number and routing number to send funds. But this manual process exposes both consumers and merchants to risks and limitations.
Modern, or revitalized ACH payments include enhancements layered onto the ACH network for a seamless, secure experience.
Pay by bank is an emerging payment system that couples instant bank account verification with ACH payment processing.
Instead of requiring bank information, a customer’s bank account is securely linked by a single login to their online banking.
Here’s how these ACH payments work:
Before an ACH transaction is initiated between a customer and new merchant, the customer’s savings or checking account must be authenticated and “linked” to verify its ability to send funds.
This onboarding process is easily completed using an aggregator with open banking APIs, like Aerosync, which verifies accounts by enabling the user to log in to their bank directly.
To mitigate fraud, ACH bank transfer processors perform real-time fraud and risk detection checks during the authorization process. This essentially means customers are verified as true account owners.
Passwordless authentication verifies a user in seconds using their device's face or touch ID.
Once a user is verified, funds are moved from the customer’s bank to the merchant’s account using the Automated Clearing House (ACH) network.
Unlike wire transfers, ACH payments are processed in batches, typically within 1 to 3 days depending on the processing window (First Same Day ACH, Second Same Day ACH, Third Same Day ACH, Next Day ACH).
Note: Over 80% of ACH transactions settle in one banking day or less.
Aeropay specializes in modern ACH payments and works with over 8,500 financial institutions nationwide. We help thousands of merchants effectively balance low processing costs with high approval rates, streamlined user onboarding, and optimal security.
Modernized ACH payments are catching on for a few reasons. They’re clearly more efficient than paper checks, but pay by bank also offers a cost-effective alternative to cash and credit card transactions.
“ACH used to only make sense for specific use cases like direct deposit and bill payments. But new, advanced ACH solutions are applicable to almost any situation where customers typically pay by card.”
Here are the benefits of ACH for your business:
ACH transfers do not rely on debit or credit card networks to move funds, meaning there are no interchange fees to accept these payments from customers.
While the exact pricing varies by provider, Aeropay consistently sees businesses save up to 50% on payment processing fees with ACH (compared to credit card payments).
The direct connection ACH payments establish with customer banks means you'll see greater transparency and accessibility.
This unlocks tools like real-time fraud detection, multi-factor authentication, and verifiable account info (like customer account balance).
Payments providers like Aeropay allow businesses to enable guaranteed ACH for payments, eliminating the risk of returns and guaranteeing funds will be delivered.
Guaranteed ACH means your payments are delivered on time, every time — with no risk of returned or unprocessed payments.
In 2024, the ACH network offers increasingly fast fund settlement options, like same-day or next-day. In fact, NACHA found 80% of ACH Network volume settles in one business day or less.
You can even access ACH payments in real-time with guaranteed providers like Aeropay. We’ll deliver funds immediately and handle collecting the customer’s payment once it settles in a couple days.
It’s easier than ever to onboard and utilize ACH for use cases like:
To accept ACH payments:
1. Choose an ACH provider. You’ll need a reliable partner that’s able to onboard customers, verify their bank accounts, and process ACH payments. ACH payment processors like Aeropay provide flexible payment options to get your business up and running quickly.
2. Choose your ACH collection method(s). Depending on your business, there are a few ways to collect ACH payments, such as:
3. Start processing ACH payments. You’re ready to accept and collect modern ACH payments. Funds will transfer directly to your business bank account.
By pairing the reliability and low-cost of the ACH network with seamless customer bank linking, real-time fraud detection, and security measures like bank-level and multi-factor authentication — Aeropay ensures merchants access the highest top-line revenue possible.
Aeropay also offers Guaranteed ACH to provide your business with instant access to customer funds. This removes the risk of returned payments, without sacrificing approval rates.
Our advanced model adapts to the complexities of ACH payments, dealing with over 50 return codes, predicting user funds at the time of the transaction, and managing dispute patterns.
The result: 90%+ of Aeropay transactions are approved, boosting customer satisfaction and business revenue.
Take an inside look at pay by bank approval rates.
ACH, like any other payment method, comes with risks. However, advanced ACH solutions have built-in fraud and risk measures that actually make the method safer and more reliable than traditional cash, checks, or cards.
Here are four key risks and how your ACH solution should address them:
When an ACH transaction cannot be processed.
Risk: When a customer has insufficient funds, incorrect account details, or a closed account, you won’t receive your payment, even if goods/services have been rendered.
Solution: Advanced ACH providers have built-in tools to verify account details and balance availability in real-time, reducing the likelihood of returns. Additionally, systems like Aeropay provide alerts for potential issues early on, allowing for proactive resolution.
When a customer claims a transaction was unauthorized or incorrect.
Risk: Disputes lead to chargebacks, fees, and a lengthy resolution process.
Solution: Unlike credit card processing, ACH solutions can include built-in dispute management systems that track transaction histories and provide clear, timestamped records to help resolve disputes quickly. The process is often streamlined through automation, ensuring faster resolution and fewer disruptions.
ACH debits were most susceptible to fraud according to a 2023 study.
Risk: ACH payments can be targeted by fraudsters attempting to gain unauthorized access to accounts or initiate fraudulent transactions, leading to financial losses.
Solution: Providers should offer multi-layered fraud detection and prevention mechanisms. This includes encryption, tokenization, anomaly detection, and monitoring tools that track suspicious activities, flagging potentially fraudulent transactions before they occur.
When a transaction is initiated without proper consent.
Risk: ACH transactions that require manual entry of bank account information expose customers to the risk of unauthorized payments.
Solution: Your ACH payment processing provider can eliminate this risk by enabling onboarding with bank-level authentication that includes multi-factor authentication and secure bank API integrations.
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When you’re set up and ready to accept ACH payments, you’ll want to take full advantage of the benefits.
Unlocking the advantages of ACH means ensuring your customers choose to pay by bank account.
Here are some tips to nudge them toward adoption:
Incentivize customers to choose ACH by offering a small discount for payments made by bank account. You’ll save money on transaction fees by motivating customers to choose the lower-cost option.
Example: Rent payments incur a 3% fee when paid by debit card, but zero fee when paid by bank. See the benefits of ACH rent payments.
Simplify the payment process by offering a seamless, one-click checkout option for returning customers. After their first payment, users are saved and ACH payments can be sent in a single click, removing friction and boosting customer satisfaction.
Example: iGaming players top-up their balance in a single click, without any manual data entry.
For recurring ACH payments, offer an auto-pay feature that automatically debits funds from the customer’s bank account. This reduces the likelihood of missed payments while providing convenience for both parties.
Example: Bill payments are set and forgotten — automatically deducting the specified amount each month.
Implement a rewards program for customers who opt to pay via ACH. Whether it’s points, cashback, or exclusive offers, these incentives can help drive higher adoption rates for ACH payments.
Example: Retailers offer cash back on ACH purchases, depositing funds directly into the payer’s account.
Send customers a link to collect ACH debit transactions from anyone, anywhere. If you typically accept funds via cash, check, or physical cards, payment links remove the overhead and complication of traditional payment processing.
Example: Professional services or small businesses requesting payment send a simple link that includes the total amount requested, direct to the customer’s inbox.
Modern businesses need a solution that’s built for the future. Aeropay’s account-to-account platform provides enhanced ACH payments that help you:
And most importantly, we’ll get you started quickly, with a team of specialists ready to assist you along the way.
Now’s the time to accept ACH payments. Get started.
