Customers like payment options and so do businesses. Typically high risk online payment options are restricted to credit cards, but not all customers will have valid credit cards or sufficient balance to complete their transaction. But when operating in a high risk industry, is it possible to open payment options to include bank checks and echecks in payments options with ACH processing.

“One of the easiest ways to boost sales is to increase payment options to include ACH payment processing as a primary payment option,” says Andrew Chong, VP of Finance at Connected.co. “We have been working with high risk merchants for 20 years providing ACH payment processing services to boost revenue and attract customers.”

ACH originated as a system to replace paper checks by allowing businesses to receive electronic payments directly from the a buyer's checking account. While traditionally ACH payments were used to pay employees and service providers, but increasingly they are being used for online payments, point of purchase sales, person to person payments and B2B transactions.

“ACH differs from credit card payments by bypassing the card networks, which means it does not attract the same fees as credit card processing payments,” says Chong. “The end cost of processing depends on the merchant account provider with some charging a flat rate per transaction while others charge a percentage fee and there may be an additional monthly facility fee.”

While many merchant account providers will not process ACH payments for high risk businesses, there are separate, stand alone entities that offer this service. Website payments can be made using ACH processing services, particularly in the case of recurring payments such as subscription services. As the transaction fees are lower, this can result in significant benefits to the business.

“The drawback of ACH processing is that it can be slightly slower than credit card payment processing,” says Chong. “While most major credit card processors will process the payment instantly, the same day or the next day, ACH payments can take 3 to 5 days to arrive in your account. However, for the benefits of increased revenue, it is worth the short wait.”

With Connected.co, ACH processing can be included in a sophisticated and intuitive payment gateway platform. “Connected.co offers a next-generation payment gateway distinguished by its flexibility and control. It can power any type of business and may be customized according to individual business needs,” says Chong.

The Connected.co payment gateway is highly customizable with rules-based routing and cascading options built in to allow maximum flexibility for global transactions. The gateway includes chargeback prevention tools and the ability manage recurring billing, subscriptions and order fulfilment.

“In addition to placing high risk merchant accounts, we also offer the very best products and services to keep your accounts running reliably and efficiently,” says Chong. “We offer a state-of-the-art payment gateway, and some of the most advanced fraud prevention tools in the industry. Our ultimate goal is to help you manage the minutiae so you can focus on building your business best.”

Connected.co has provided merchant services to high-risk businesses for almost 20 years. Connected.co focuses on helping cutting edge businesses align with the right banking partners and managing risk effectively to ensure their business thrives. Connected.co understands the unique needs of high risk, online and cutting edge businesses and has a vast network of domestic and international banking relationships to source the best fit for every business need. They also offer a state-of-the-art payment gateway to optimize sales and minimize chargebacks, as well as precise anti-fraud tools that allow simulation to test strategies to protect accounts and maximise throughput. For more information, please visit: https://connected.co/.