FinanceRegs.com » If you’re not using this tool, it’s time for a switch

If you’re not using this tool, it’s time for a switch

July 29, 2008 by Carol Katarsky
Posted in: Best practices, Electronic payments, Fraud prevention, In this week's e-newsletter, Latest news & views

More of your peers are using electronic payments like ACH, but you might be surprised at just how much it’s growing. Use of ACH is up nearly 19% over last year, according to NACHA, The Electronic Payments Association.

That’s more than 2 billion e-transactions per year.

The rapid growth stems from a big benefit: The security and ease of e-payments can save time and money for both you and your vendors.

If you’ve been delaying use of ACH, it might be time to re-examine. Vendors used to balk at setting them up, but now more vendors are happy to accept ACH payments. SomeĀ are even encouraging it with discounts or other perks.

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