Cash Discount Program – What is it?

From a 30,00 foot level a cash discount program is as simple as merchants charging a lower price for purchases made with cash rather than credit cards. If it was only that simple.  Historically and most visible, gas stations were one of the first merchants to offer discounts for cash.  They promote two prices per [...]

By | 2019-05-30T15:56:08+00:00 May 30th, 2019|

Industries that could and should use ACH.

Usages of the ACH network have grown almost exponentially since its inception.  From direct payroll deposits to eCommerce the applications are wide and almost limitless.  Simply put, if you write a check or accept a check you have a need for ACH processing. The benefits, outlined in a previous blog on this site, are extensive.  [...]

By | 2019-05-16T13:35:33+00:00 May 18th, 2019|

Same-Day ACH

Source: NACHA Since the 1907s the ACH Network has been the foundation of payment processing.  Its founding fathers instilled stability as the primary tenet, speed was an afterthought.  That all changed in March of 2018 when the three phases of same-day processing were implemented.  Now, based on a series of rules governed by [...]

By | 2019-05-16T13:36:20+00:00 May 16th, 2019|

Choosing a Bank

The concept of banking has been around since the minting of currency.  The banking system has survived through the heavy regulations brought on by the great depression and has evolved through the deregulation of the 1980s into what we have in place now. The alternatives are innumerable when it comes to where you transact your finances.  [...]

By | 2019-05-15T21:02:29+00:00 May 2nd, 2019|

ACH – What, Why, How

Automated Clearing House (ACH) ACH, the beginnings.  In the early ’70s, a group of California bankers wrestled with an ever-expanding line item on the expense side of their respective P&L’s: the cost of processing physical checks.  In addition to the cost, there were inherent inefficiencies in the process with intense human handling opening itself to simple but costly [...]

By | 2019-05-15T21:04:54+00:00 April 25th, 2019|

Building the Bridge Between Fintech and Banking

By: O. Sam Ackley In last week’s post, “Fintech and Today’s Banking System,” I covered the reasons Fintech is struggling to grow in the US banking system. Below are my ideas for building a bridge between the two. Building Bridges Banks and consumers alike want to do business with financial technology firms that are creating [...]

By | 2018-04-30T13:33:18+00:00 October 18th, 2017|

Exhibiting Quick & Simple Transaction Processing at Money20/20

We are excited to be exhibiting at Money20/20 next week, October 22-25, in Las Vegas. You can visit us at booth #748. Money20/20 is the world’s largest marketplace for ideas, connections, and deals in payments and financial services. Over 11,000 attendees from 4,500 companies and 85 countries are expected at the event. Today, the majority [...]

By | 2018-07-02T01:30:58+00:00 October 18th, 2017|

Fintech and Today’s Banking System

By: O. Sam Ackley In this series of two posts, I’ll address the need for a bridge between Fintech and banking, plus my ideas for what that bridge should be made of. Keep an eye out for part two next week. Banks want to do business with financial technology firms that are creating applications that [...]

By | 2018-04-30T13:33:19+00:00 October 11th, 2017|

The Future of Payment Processing? Our FinTech Cloud API (aka an ACH API)

Today the majority of payments are completed using credit cards, which eats away up to 1.5-5+% of gross sales. On the other hand, electronic debits and credits on bank accounts can use the Automated Clearing House (ACH) system, which is processed through nearly all banks, and typically for a very small transaction fee ($0.10-$0.30 with [...]

By | 2018-04-30T13:33:20+00:00 September 28th, 2017|

Financial Services and Fintech Companies Like ACHeck21 Are on The Rise

Financial services incumbents in Fintech are competing with each other as well as early-stage startups and big technology companies. Big groups like remittance technology, blockchain, wealth management, and insurance technologies are leading the way. It's still not clear, however, if this presents more of an opportunity or a challenge for business incumbents, but recognized financial [...]

By | 2018-04-30T13:33:20+00:00 July 11th, 2016|