ACH Direct Deposit

Nowadays a growing number of employees no longer receive their salary via check. Instead, most of us use something commonly known as direct deposit. This system enables an employer to deposit money directly into an employee’s account on a set date, once or several times each month. Direct deposit works using a network known as the ACH, or Automated Clearing House. The same network facilitates a host of additional payment types–all of which have drastically reduced the amount of paper transactions in recent years.

Although the ACH network has been in place since the mid-’70s, it was typically limited to companies that had the financial power to purchase the necessary technology. As developments in computers and the expansion of high speed Internet revolutionized business, smaller companies could finally take full advantage of electronic funds transfers. At Smart Payment Solutions, we provide such companies with affordable software, giving them access to the benefits of the ACH network.

When it comes to paper checks, there are innumerable things that can go wrong. Checks can be lost, forged or stolen. In fact, statistics show that an average check is handled by upwards of a dozen people when it is processed. On the other hand, not only are electronic payments encrypted, but they are rarely handled by more than a single individual. This makes the use of electronic payments far safer and far more convenient than their paper counterparts.

When you are dealing with ACH direct deposit procedures, security is of the utmost importance. That is why we designed our ACH software with an SSL 128-bit encryption system that conforms to the highest current governmental standards. At Smart Payment Solutions, not only do we want to provide you with a fast and convenient application–we want to ensure that you and your customers remain protected at all times.

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