Video Transcription

Hey, this is Allen with the B2B Vault Podcast here with another episode. Today we’re going to talk about ACH automated clearing house, or sometimes referred to as ACH. This is a great way for businesses to lower the cost of credit card processing by offering credit cards and ACH. It’s popular now to add a fee to your credit card processing. Even in the B2B world or in other types of businesses where you’re collecting a large payment from somebody and it’s 2% or 3% to process your credit card.

We’ll process your ACH for free or even try to push many of your clients to do ACH versus a credit card. And this is a great way to lower the cost. The overall cost that you’re paying with credit cards. We help you because we’re consultants here at nationwide payment systems and the payment advisory board. And, you know, we take a look at everything that you’re doing in your business. And we check like, oh, how many transactions are you doing? How much business are you doing? How many people are mailing you checks and things like that? And try to show you how we can help you set up a payment portal on your website. This payment portal allows people to come in and then make a choice. Do I want to pay with a credit card or do I want to pay with ACH? This is a great way for businesses to lower their costs when it comes to accepting different types of payments today.

I always tell business owners, one of the things I’m going to talk about is, you know, how businesses need to adapt more to the consumers. Consumers want to pay in all different kinds of ways. So business owners need to adapt to that. They need to change what they’re doing. Don’t just say, oh, I only take credit cards, right? You know, take a, you need to take ACH. There are other alternative payments that you can, that you can take in your business.

So if you’re interested in ACH, we can explain that to you. We can show you how cash discount or surcharging works in conjunction with ACH so that you can help the people that want to take it. They want to pay by credit card because they want to keep getting those miles and points and cashback. And then other people want, to pay by ACH because they don’t want to pay those fees. And they have plenty of cash flow. One thing to know with ACH is you want to make sure that you’re set up with the right company. We work with a few ACH companies, some of the better ones will allow for higher tickets. So you won’t be scared when someone is mailing you $50,000 checks. You can still do that through ACH. You can speed up how you collect money by using a hosted payment page. All it is is putting a link on your website, allowing your customers to come in, click a button, and pay. That way they can pay 24 hours a day. Your office is closed. People are working at home. So they’re not on exactly the nine to five work schedule, or you have customers in different time zones. Then it’s easy for them to pay with a hosted payment page.

So this is Allen Kopelman with the B2B Vault Podcast Remember to follow us on whatever podcast network you’re on. If you want to learn more about ACH broken appointments and we can consult with you and show you how ACH can help lower the overall cost that you’re paying for payment processing. Thank you very much.

So we already know in advance, who has a taste for that product who likes this type of product. And, you know, we know if there are two or three banks, then we’re going to go to them all and find out where they are because banks have, uh, you know, they’re only going to take just like on a mortgage. Oh, we want, you know, a paper than when it comes to being paper, oh, we only want 20% of our paper to be B. We want 10% to be C and we want maybe 1% to be D. So everything works like that. Then, you know, we take a consult, consultative approach to the whole thing. So we’re gonna, even if you’re referred to us through somebody else, we’re gonna set up a meeting, we have a phone call or a zoom meeting. We’re going to find everything out about your business. And that way we’re knowledgeable about how you operate and things like that. Compliance is very important because, uh, every business has different levels of compliance and what the card brands expect the business to do and what the banks expect you to do. And what’s supposed to be on your website. What’s not supposed to be on your website and maybe special licensing or things like that, or registration with the card brands. So we go over that with you to make sure that whatever you’re doing is fully compliant from all standpoints, with the card brands, with the federal government, whatever it is.

We also going to T V we know what to do about paperwork and required documents. So we know what the bank’s going to ask for. We’re not going to keep coming back to you, asking you for more and more and more and more stuff. Every couple of days, we already know what the list is. So once we get the list, the full list, then we can move. You know, we direct, we work directly with all the underwriters. So we work with them before we get started, making sure they’re interested in your business during the process and we working with you. So it’s very important that we, you know, make sure we have direct contact with these underwriters this way. We get a prize of any pending information, or they might have missed a document in the, you know when we uploaded it so on and so forth risk department. This is one thing, a lot of merchants don’t understand the risk department. They’re the ones that monitor your account after it gets going. So we work with the risk departments directly. We see what’s going on with them. They make sure that they understand what type of business you have, what to expect, and things like that. Fraud solutions. Okay. So there are all types of fraud solutions. There are some fraud solutions that are inexpensive. I don’t want to use the word cheap because it’s inexpensive. And then some are, you know, very expensive. So it just depends on how much business you’re doing, how expensive the product is so that you can stop fraud on the way in. So there are things like 3d secure, and there are other types of services similar to that, which basically, you know, stops fraud from happening on the front end. Okay. No chargebacks is another story. We can’t stop chargebacks. No one can stop chargebacks, but if you’re employing like 3d secure on the front end, that’s going to all, that’s going to limit chargebacks of certain types.

So depending on the type of business you have, and what’s going on in your business, now we can see or buy the business type because we’re familiar with many business types. We can see what we know what you’re going to expect to have. If you’re a new business and you’re in a certain vertical, we know what kind of chargebacks you’re going to get, what kind of fraud you’re going to get. And we show you how to mitigate that. And that’s all you can do chargebacks, and we help you with chargebacks. We have charged back rescue where we help you reg chargeback letters. If you’re managing yourself, if you get a lot of chargebacks, and we have companies that link into your website and they help you monitor the chargebacks and respond to them, and there are even services where you can kind of, after a chargeback is issued, you let’s say it’s just a service you offer. Maybe you want to offer, you know, refund the money before the chargeback is actually posted into the system. So it’s a precharged back warning. So we work with all these things and we consult with you. We explain everything and then we get the whole process going. So NPS bank, you can go to our page on the website, high risk, read all about the different verticals that we work with. I mean, we basically say if it’s legal, we can find your credit card processing. So thank you for listening to another episode of the B2B Vault.