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electronic payment systemsAuthor: NUEPAY Article source: http://www.articlealley.com/. Used with author's permission.
Electronic Payment Systems
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Over the past 15 years, the use of electronic payment systems through ACH processing has increased by about 15 percent annually. Today, these electronic payment systems are responsible for nearly 16 billion transactions each year. With the amount of purchasing that takes place online, the ACH network allows companies to conduct their business efficiently and cost-effectively. Regardless of your industry or the size of your business, electronic payment systems can bring you multiple benefits for both your online and offline transactions.
Electronic payment systems greatly reduce the need for credit card transactions and paper checks. With electronic checks, funds are transferred directly from your customers' bank accounts to yours. This system is superior to credit cards for several reasons. First, you can expand your customer base by making your products and services available online to the millions of people who don't use credit cards. Second, you'll reduce expenses, since electronic check transactions involve a much lower fee than credit card transactions.
Both online and offline businesses can benefit from converting paper checks to electronic checks. You can use the same electronic payment system for all your transactions?both online and offline?and you can accept payments over the internet, by phone or fax, or in person. In addition, you'll receive the funds much sooner than with paper checks. Electronic payments will appear in your account within 48 hours, much more quickly than the time it takes paper checks to clear.
At Nuepay, we provide a host of electronic payment systems?everything including direct deposit, electronic check processing, paper check conversion, credit card processing, and check recovery. And we can help you integrate electronic funds transfers into your current payment system.
To learn more about the electronic payment systems that best suit the needs of your business, visit us at www.nuepay.com, email us at sales@nuepay.com or contact a representative by calling 1-800-815-4105.
Main keywords: electronic payment systems
Secondary keywords: check recovery , direct deposit , check conversion , credit card processing, payment system, payment solution , electronic check transactions, electronic checks, ACH network, ACH processing, Electronic payments
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