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Many cash-only businesses have an ATM onsite, given how ubiquitous debit cards are. To accept card payments, you’ll need a trusted payment processor to provide the hardware and software needed to process the transactions. One of the most frequently asked questions we see is, are EFT payments safe?
Every time you use your card to make a purchase, whether in a store or online, the transaction is processed electronically. Technological advances, such as near-field communication (NFC) and contactlesspayments, have made it even easier to pay for goods and services using your credit or debit card. EFT Payment Processing Time.
An ACH payment requires the same information that is on a check , including the name of the financial institution, transaction amount, type of account (checking or savings), and the routing and account number. Simply put, check payments are the analog version of ACH transfers.
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