5 Reasons to Use ACH Processing for Recurring Payments

ACH Payment Processing is the gold standard when businesses are collecting regular, recurring payments for products or services. 

Here are our top five reasons you should be using ACH processing for your business’ recurring payments:

1.     Cost Savings

ACH processing costs are up to 90 percent less expensive than comparable credit card processing fees.  Typical credit card processing fees average around 2.5 percent, whereas ACH fees average around .3 percent.  For businesses that collect dozens or hundreds of payments monthly, the savings quickly add up.

2.     Decline Rates are Significantly Lower

Every company that collects payments knows declined payments can be a pain point. Thankfully, ACH payments are declined significantly less often than credit card payments.  This is because people change bank account information far less frequently than they change credit card information.  Typically, ACH payment decline rates are below two percent.  Again, for a company processing large batches of payments monthly, the impact on the bottom line is significant.

3.     Higher Repeat Customers

Customers like options, and that includes payment options.  Providing customers with multiple payment options is just one more way to provide excellent customer service.

4.     Reliable Cash Flow for your Business

Smooth, uninterrupted cash flow is imperative for all businesses, and with a lower decline rate and less expensive processing fees, automated ACH payments are a clear and easy choice.  Companies relying on ACH processing can rest assured that they will have a steady stream of income, making necessary business expenses less stressful.

5.     Less Paper Waste

Companies with recurring billing can often rely less heavily on traditional paper statements, lessening their environmental impact.  Many customers also enjoy having fewer bills in the mail.  Simply ensure your customers opt into paperless billing, and you will save yourself hundreds of dollars in paper costs annually.

EPS may offer a solution to your ACH Processing needs 

With EPS’s payment processing solutions, your customers will be able to better provide flexibility, speed, convenience, and reliability to customers.  As an industry leader, our web-based payment solutions offer a low-cost, secure, and compliant processing option.

EPS offers value-added functionality and a high level of client satisfaction.  From payroll to insurance, our comprehensive platform can significantly expand the options available to your employees.  EPS offers unbeatable support backed by an unparalleled team of experienced specialists to assist with your ACH processing needs.