Automated Clearing House Processing
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Allied Wallet offers merchant transaction services in 196 countries and processed payments in 164 currencies. It provides ACH processing solutions as an alternative to an in-house system, which can save paper and costs. ACH is a common U.S. electronic funds transfer system that clears transactions between financial institutions in batches, holding payments for a short time before delivery. It is governed by NACHA and moves nearly $39 trillion annually, processing credit, debit, payroll and other transactions.
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Automated Clearing House Processing
- 2. The global payment processing company Allied Wallet offers merchant transaction services in 196 countries and processed in 164 different currencies. An attractive alternative to an in-house ACH solution, Allied Wallet offers clients ACH processing solutions designed to save paper and improve cost-efficiency. A payment transfer system commonly used in the United States, ACH stands for “Automated Clearing House.” Financial institutions in the U.S. are connected to each other using this secure system. Electronic fund transfer transactions are cleared through the ACH network using batch processing, and payments may be held there for a short period of time before arriving with the intended recipient.
- 3. This process is known as “store-and-forward.” The ACH system is governed by regulations set out by the National Automated Clearing House Association, the ACH network’s trustee. ACH is operated by both Federal Reserve Banks and the Electronic Payments Network. Every year, the ACH network is responsible for moving close to $39 trillion American dollars. Credit and debit transactions, including vendor payments, payroll transactions, and direct deposits, are processed within both the public and private sectors.