ACH Payments(NACHA/NACH/Direct debit System)
Learn the most trending topic of payment world
Ratings 2.94 / 5.00
What You Will Learn!
- Complete knowledge of ACH payments and life cycle of ACH transactions
- Mandate/eMandate needs
- Why corporate prefers ACH payments over card payment and other mode of payments
- How to pay monthly bills automatically
- Clearing system and settlements
- Accounting entries
- Posting
- Difference between ODFI and RDFI
- Difference between ACH credit and ACH debit
- ACH participants
- Use cases of ACH payments
- Mandate management system
- ACH file processing
- File presentment and settlement
- Batch file processing
- How pension and salary processing is done
- EFT
Description
This course covers Mandate management system and ACH payments.
This will also help you in understanding the payments processed by Paypal.
The ACH (Automated Clearing House) Payment Service enables you to electronically collect payments from your customers for either single-entry or recurring payments by directly debiting your customer's checking or saving accounts.
The most common uses of ACH are online bill payment, mortgage and loan repayment, and direct deposit of payroll. ACH payments are an efficient and cost-reducing alternative to paper checks and credit cards.
On the Internet, ACH is primarily used for person-to-person (P2P), business-to-customer (B2C), and business-to-business (B2B) payments.
Benefits of ACH Payments
Following are the benefits of ACH Payments
Provide your customers with an alternative to credit cards and checks.
Offer lower-cost payment than either checks or credit cards.
Faster payments than using checks.
Who Should Attend!
- Software tester,Developer,TL,Pre-sales consultant,PM,Business analyst who are working in banking domain/Payments or wants to work in banking domain/Payments.
- Anyone who wants to learn about ACH payments
