ReliaFund Blog

5 things you should know about payment processing

5 Things You Should Know About Payment Processing

ACH payment systems are becoming more and more prevalent, and knowing how ACH works for your business is more important than ever. That includes knowing the risks of ACH. Here are 5 things you should know about payment processing. 1. Not All Fees Are Created Equal The average credit card processing fee is between two…
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cash and covid the importance of payment processors

Cash and COVID: The Importance of Payment Processors

COVID-19 has changed the way we do things, from no-contact package delivery to remote work and online public schooling. One of those changes is the increase in no-touch and cashless payments. Cash and COVID don’t mix. As COVID changes the way the world works, plays, and learns, now is a great time to evaluate and revamp…
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Man looking at bank statement on computer

The U.S. Economy Runs on ACH

“ACH is the engrained payment solution that sits in the background as a reliable function that doesn’t attract much fanfare and yet is critical to how we run our businesses, pay our bills, and receive government benefits and wages,” says a white paper titled “The Expanding Role of ACH in the Era of Faster Payments.” …
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Couple Doing Online Shopping On Laptop, ecommerce

3 Tips to Build a Successful E-Commerce Site

At the start of the pandemic, retailers immediately turned to online solutions and scaled up digital operations to keep sales afloat. Some were left scrambling to build a website or an online store to stay engaged with customers. As states begin to open, it’s possible to eat at your favorite restaurant, go to the salon…
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Woman customer making purchase with chip reader

5 Tips for Fraud Management

During times of uncertainty, bad actors will take advantage of the fear and vulnerabilities of consumers. According to the Federal Trade Commission’s Consumer Sentinel Network, nearly 50,000 scams related to COVID-19 have been reported. From travel and online shopping to phony small business loan sites and coronavirus miracle cures, scammers are collecting personal data and…
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Financial audit done by two business members

The Small Business Guide to Account Reconciliation

Small business owners get busy and fall behind with maintaining accurate accounting records. But it’s critical that the closing amount in your bank account matches the closing balance on your account records. Account reconciliation allows you to catch errors in your journal entries and general ledger for small business. If they don’t match, then the…
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Mobile device showing status of money transaction, Same Day ACH

Same Day ACH Expansion and Limit Increases

As the volume of financial transactions increases through the Automated Clearing House (ACH) Network, the National Automated Clearing House Association (NACHA) continues to scale up its services to meet the demands of the market. NACHA recently announced the new dollar limit for Same Day ACH will now be $100,000. The increase quadruples the previous amount…
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Small business owner, processing payment

4 Ways Payment Processing Supports Business During COVID-19

The COVID-19 pandemic has impacted daily life and disrupted how many of us do business. Due to stay-at-home directives, the focus in our industry has turned to processing payments through automated clearing house (ACH) processes, credit cards, phone, web and other applications.  We know of the capabilities of ACH payment processing for bill pay like…
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How to Optimize Your Checkout as An Independent Software Vendor

You’ve spent your time getting to know your software and how it specifically benefits your customer. When you work in a niche market, it’s critical to understand how your customers will benefit from your services, as well as how you can deliver that information to them.  You know the idiosyncrasies of your customer base inside…
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How to Keep Your eCommerce Customers Happy

When you’re in eCommerce, you don’t have the brick and mortar element of customer service checking you out, so electronic checkouts should always be customer-centric and easy to use.  You’ll also want to be sure that your customers’ important information is protected, as data breaches can significantly damage your reputation and customer loyalty. It’s no…
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ACH On Your Website Benefits Customers and You

ACH processing fees are far less expensive than typical credit card transactions. Since ACH bypasses the debit and credit card networks, interchange and assessment fees are eliminated entirely. With layered security protections, easy, automated solutions for customers, and the potential to save loads of money, ACH processing should be seriously considered if you don’t already…
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How Does ACH Work for My Business?

In 2018, the ACH Network transferred 23 billion payments, or $51 trillion. Within the same year, internet payments went up 14.2 percent, valuing $2.9 trillion.  According to NACHA, consumers are certainly becoming more comfortable with internet payments via ACH. More and more merchants, especially small businesses and eCommerce merchants are capitalizing on the benefits that…
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