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100+ Payment Industry Terms Explained in Plain English

Clearly Payments

ACH (Automated Clearing House) The U.S. Same Day ACH A faster version of ACH that settles payments the same business day. NACHA The organization that governs the ACH network in the U.S. 1099-K A tax form that reports card and third-party payment volume to the IRS for U.S. businesses and freelancers.

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The Millions And Billions And Trillions Of Same Day ACH

PYMNTS

That year “as a whole,” said Estep, “showed both the continued growth as well as the evolution of the ACH network.”. The network has evolved to offer a set of different payment options; most notably, it “allows next-day payments, value-dated payments and now same-day payments.”. Data Point Two: 26 Million.

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10 Easy Ways to Collect Payments from Customers

EBizCharge

It also enhances security, as modern contactless payment options like digital wallets and chip cards are equipped with advanced encryption, protecting sensitive customer information from potential fraud. They’re also protected by strong encryption and authentication measures, offering peace of mind for secure transactions.