Embedded B2B Payments
Convenient, fast, and secure payment options so your customers have everything they need to pay their invoices.
Simplifying your company’s accounts receivable process can provide you with more money and time, essential to the long-term success of any business.
Automated Clearing House (ACH) transfers make bill collecting easier and more efficient for you and your customers, enabling you to receive faster, punctual payments. These digital transactions transfer funds between bank accounts through the ACH network. Direct deposits and apps such as PayPal and Venmo are examples of ACH transfers.
Here are five reasons why accepting ACH payments benefit your business:
1. Reduced costs
ACH offers processing fees that are the lowest among payment options. And unlike debit and credit card fees that vary with the size of each transaction, ACH fees remain flat and predictable. ACH is also cost-efficient when customers pay by check. The Association for Financial Professionals (AFP) reports the median cost of receiving an ACH check payment is between $0.26 and $0.50. According to Nacha, the cost of receiving a paper check can be as expensive as $2. Multiply those costs over a year and you’ll be surprised at the amount of money ACH saves your business.
2. Stronger security
Nearly 63% of businesses were victims of check fraud in 2024, according to the AFP. That’s the last thing you and your staff need. Paper checks can be dangerous for your customers too – if intercepted or lost in the mail, checks can provide anyone who finds them with the company’s checking account information and the routing number of its bank.
Payments made digitally through ACH don’t need to be mailed or handled manually, and they can be easily traced, enabling quicker detection if fraud does occur. With Bill360, your customers have 24/7 access to their own portal where they can make ACH payments by simply clicking a button.
3. Efficient processes
In a survey of more than 2,200 businesses, PYMNTS and American Express reported that 49% said a manual process was the greatest challenge when it came to accounts receivable.
ACH payments enable your finance and AR teams to track transactions electronically, making for a simpler, more organized operation that doesn’t require bulky file cabinets or folders that can easily be misplaced.
4. Faster payments
The quicker your customers pay, the sooner you’ll be able to funnel those funds back into your business.
Paper checks can sometimes take a week to clear, especially when weekends and holidays get in the way. ACH payments process the same day or the following business day, invigorating your cash flow while giving your customers the peace of mind that their bill has been paid.
5. Better allocation of resources
Receiving paper checks requires your staff to open envelopes and either go to the bank or sit at their desk and manually deposit funds into your account. It doesn’t sound like much – but these mundane accounting tasks eat into your employees’ work week. ACH payments, however, can be automated, freeing up your staff to work on projects geared more toward the growth of your business.
Simplify ACH payments with Bill360
Bill360 makes it easy for customers to pay you digitally using the ACH network - one of the reasons our clients get paid 36% faster than their previous AR process.
Schedule a demo and discover firsthand how Bill360 is revolutionizing AR automation.
FAQ
What are some types of ACH transactions?
ACH transactions include direct deposit, where funds are transferred into a recipient's bank account, such as paychecks and tax refunds; direct payments, where funds are drafted from a bank account to pay bills; and ACH debits and credits.
Why are ACH transactions better than checks?
ACH transactions are digital and cannot be physically stolen or chemically altered like checks and are protected with extra layers of security.
How does accounting automation make it easier to pay by ACH?
Accounting automation from Bill360 enables buyers to set up portals and securely store their banking information in a digital wallet. Rather than having to enter routing and accounting numbers every time they want to pay a bill, your customers can simply hit a button and make a payment in seconds.
