![]() An ACH transaction processes the payment electronically-without the physical presence of a paper check. ![]() This allows your customer to input the information from their paper check (routing and account number, name, amount, and authorization) into an online payment form or software interface. Accept Online Payments with eChecks and ACHĪnother way to accept online payments is through a direct debit of a bank account with an eCheck, or electronic check, through ACH payment options. Reducing your reliance on cash transactions has become smart business:Ģ. In comparison, there were about 249 million MasterCard, about 54 million American Express, and 57 million Discover cards in circulation in the U.S. By the end of 2021, there were about 742 million Visa cards in the U.S., with more than 1.8 billion worldwide. Visa, MasterCard, American Express, and Discover are the among most widely accepted major credit cards. To do this, you need to decide whether to have your own dedicated merchant account or use an intermediary holding account.Ĭhoosing one method over means very different business processes and funding times, so it’s important to research and determine the best option for your business. Accept Credit Cards and Debit Cards OnlineĪllowing customers to pay with their credit card on your website is the most basic way to accept payments online. These options are easy, convenient, and seamless for you and your customers. We’ve put together a list of all the different ways you can accept online payments. These numbers, and the shift in buyer behavior they represent, cannot be ignored. In 2021, mobile commerce sales reached $2.91 trillion, and almost 3 out of every 4 dollars spent on digital shopping is now done through a mobile device ( Oberlo). Luckily, there are a lot of easy options that let you accept payments online, no matter the size of your business.Īccording to Insider Intelligence (2021), it’s thought the impact of COVID “expedited the digitization of the payments industry by two or three years”. Consumers want and even demand the convenience, and businesses need to be ready. If 20 showed businesses anything, it was that online payments are here to stay. Accept Payments Online: eChecks, ACH, Credit Cards, and More
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