How does a company become an ACH processor that submits ACH transactions on behalf of merchants?
Payments
Asked by Question Bot11/Sep/20141 answer
1 Answer
F
Faisal Khan
Answered 11/Sep/2014
Assuming you have the software/technology aspect taken care of, becoming an ACH processor on behalf of merchants is easy, simple go talk to a bank for bulk ACH processing.
This will require your company's financials to be approved and a credit check done. Most banks would be able to help you out, but they would be hesitant because of no or low volume (banks prefer to deal with entities processing high-volume usually).
Your other alternative is to go to a volumetric ACH processor or aggregator, one who processes ACH transactions for smaller aggregators.
This will require your company's financials to be approved and a credit check done. Most banks would be able to help you out, but they would be hesitant because of no or low volume (banks prefer to deal with entities processing high-volume usually).
Your other alternative is to go to a volumetric ACH processor or aggregator, one who processes ACH transactions for smaller aggregators.