This cloud-based suite of electronic payment options that includes one-time and recurring settings enables clients to utilize a single platform for paper check and electronic (ACH) payments automation. The consolidation of this functionality optimizes efficiency for any business that accepts both check and echeck payments.
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ACH payment types offered include:
CCD A one-time or recurring Business to Business ACH transaction
PPD A one-time or recurring Business to Consumer ACH transaction
TEL A one-time Business to Consumer ACH transaction (Debit Only) made over the telephone
WEB A one-time Business to Consumer ACH transaction (Debit Only) initiated over the internet
"Now our clients can have a single solution that really delivers the more feature-rich requirements for check and ACH payments processing that most demand. This also adds another of level of Web services that we can provide through our TMC Connect delivery to clients and software partners," says Robert "Jay" McShirley, CEO of transmodus.
According to NACHA, The Electronic Payments Association, 3.77 billion ACH transactions were conducted in the third quarter of 2009, totaling more than $7.3 trillion. TowerGroup, a leading financial services industry research firm, forecasts that ACH transactions will grow 7 percent annually through 2012, totaling $31.24 trillion in ACH transactions in 2010.
These new payment options are available through a Web service for vertical software partners and directly to users of Heartland Express Funds through the transmodus powered portal.
Safe and secure
Security is implemented on multiple levels: from physical access, firewalls and transport protocols to database and application level authentications and permissions, to strong encryption. All the above provides for a secure environment for sensitive, financial information.
