Square brings ACH payments on Square Invoices
By Pavithra R
Square, building simple tools to help people participate and thrive in the economy, has announced accepting Automated Clearing House (ACH) payments on Square Invoices, to bring convenience and payment flexibility to businesses and their customers alike.
ACH payments are an electronic bank payment method that provides a simple and secure alternative to card networks. By accepting ACH payments, Square meets the needs of large businesses specifically those with high ticket items where card processing fees can be cost-prohibitive.
“We absolutely love using ACH payments on Square Invoices since it offers our patients another way to pay that is convenient and smooth. ACH payments are seamless to implement and use on Square Invoices, with everything being handled on the back-end, and also offers us the opportunity to save on fees, which is a huge bonus,” said Renee Pickering, Director of Strategy at Dr. Daniel Barrett Plastic Surgery.
With ACH payments, businesses can offer an additional simple and secure way for customers to pay while still providing safe, contact-free commerce. Customers can simply log in with their bank details and complete the bank transfer remotely online. ACH payments on Square Invoices offers an integrated solution to streamline transactions by bringing all forms of payment under one roof, removing the need for a separate provider to handle ACH payments.
Additionally, for businesses with recurring billing needs, merchants can now use Bank on File with ACH payments, enabling them to automatically bill a customer by collecting and saving their bank information and billing them on a recurring basis, reducing missed or late payments and reducing merchants’ time spent on collecting payment.
“Large businesses need integrated, seamless tools that enable them to operate smarter and more efficiently, all while being able to save on expenses. ACH payments on Square Invoices allows us to compete for and better serve complex businesses like wholesalers, home and repair, and service providers that need lower transaction costs, while giving businesses another option in how they accept payments that ultimately brings huge benefits to them and their customers,” said Ashley Grech, Global Head of Sales.
Founded in 2009, San Francisco based Square is a technology and financial services company that offers software, hardware, and financial tools to empower businesses and individuals to participate in the economy. Square Invoices is free for Square sellers and ACH transactions have a processing fee of 1% with no hidden fees for failed ACH transactions.
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