“The check is in the mail” was the punchline of many a good pun just a short time ago, but the truth is that joke is going out of style. Snail mail is going the way of the dinosaur, and paper checks are on board for the ride.
E-checks, however, have taken a dramatically different route. In fact, electronic ACH payments have been consistently growing YoY at an impressive rate. Take this statistic from NACHA as an example: In 2019, the ACH network processed 24.7B transactions totaling 55.8 trillion, an increase of 8.9% over 2018. In the B2B sector, the increase was even more pronounced, at 12%. Most importantly, this is a consistent and growing phenomenon. ACH volume has increased by more than 1B every year in the last five years!
If you’re an ISO servicing B2B merchants, offering them a VT that has built-in agnostic ACH/check processing (like the accept.blue gateway does) is imperative, otherwise the joke might just be on you.
Contact a team member today to learn the many reasons why our gateway is an important and much appreciated tool by B2B merchants nationwide!