“ACH” Posts

How Does ACH Payment Processing Work?

How Does ACH Payment Processing Work?

ACH payment processing operates via the ACH network. Every ACH transaction goes through a seven-step process involving six entities. These entities include the originator, the receiver, the originating depository financial institution (ODFI), the receiving depository financial institution (RDFI), an ACH operator and the National Automated Clearing House Association (NACHA). Below, we define each entity involved and the technical steps to ACH payment processing. Entities Involved in ACH Payment Processing Originator: An individual, corporation or other entity that initiates a transaction using the ACH network. Receiver: An individual, corporation or other entity that receives an ACH payment. ODFI: A financial institution…

The True Cost of Paper Checks

The True Cost of Paper Checks

Estimates suggest your business could be spending $24,540 annually just processing paper checks. Since 1865, checks have played a pivotal role in the United States payment system. Checks were the only non-cash option for the first 100 years of its existence, until credit cards were introduced in the 1950s. As payment technology has evolved, the need for checks has diminished — but the costs have remained. Here are three ways paper checks could be costing your business more than you realize: Money – According to NACHA, it costs on average $1.22 to process a paper check, which accounts for manpower…

3dcart Expands Features for PayJunction Integration

3dcart Expands Features for PayJunction Integration

Business owners turn to 3dcart for a comprehensive, easy-to-set-up e-commerce solution. They can set up their online stores in minutes and expand their sales online. The 3dcart software is fully hosted, packed with e-commerce features ranging from inventory control to shipping to customer service and marketing, and comes with 24/7 free tech support every day of the year. 3dcart’s built-in suite of SEO tools are the most complete in the industry, and a wide selection of mobile-friendly themes make it easy to build a beautiful and functional online storefront. Furthermore, 3dcart is integrated with payment providers who process…

Sycamore Education and PayJunction Provide Streamlined School Management

Sycamore Education and PayJunction Provide Streamlined School Management

Education providers, ranging from day cares to universities, have a variety of industry-specific needs. Teachers at elementary schools might need to access dietary and emergency contact information for their students, whereas administrators at a college might need to update course information for student registration. Luckily, there are software providers who remove tedious paperwork from the equation and make it efficient to store and access important school information. One such provider is Sycamore Education. With tailored services to cater to administrators, students, faculty, and parents, among others, Sycamore Education is the premier school management system and offers three distinct products: Sycamore…

How to Process ACH Payments With PayJunction

How to Process ACH Payments With PayJunction

Welcome to PJ University, where we teach you how to use PayJunction like a pro. Today’s lesson is how to process a check. After logging into PayJunction, the process page will automatically load; but if you happen to be on another page, just click “Process” from the menu on the left. On this page, select the “E-check” tab in the top menu. Enter the routing and account number on the check. Next, select the account type and transaction type. PPD is generally for personal transactions and CCD is for business transactions. Next, enter the action and amount followed by…