article thumbnail

How to Choose Between EFT vs ACH: A Comprehensive Guide

Stax

Payments can also be made to local vendors via electronic bank transfers, or fund global transactions with wire transfers. Understanding ACH Payments: The Backbone of Bank Transfers EFT is like a toolbox for digital payments, while ACH is one of the most reliable tools you can find inside. Lets look into that closely below.

ACH 88
article thumbnail

How Corporate Payments Disruptors Compete, And Coexist, With Banks

PYMNTS

This means Xero’s SME users can pay their international invoices via Midpoint’s FX services, which uses a peer-to-peer matching model, allowing payers to obtain the midpoint of the interbank market rate for foreign exchange costs at that moment in time. Direct Competition.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Checking Up On Health Care’s Digital ePayments Journey

PYMNTS

“As government and commercial payers reduce reimbursement levels, many hospitals are seeing their margins shrink,” explained Becker’s Hospital Review in a recap of the event. “Hospitals and health systems must find new ways to streamline operations to remain financially viable.”

Checks 40
article thumbnail

What Is an Electronic Check?

Payment Savvy

How Does an Electronic Check Work? An electronic check is part of a large electronic banking system and a subset of transactions referred to as electronic fund transfers (EFTs). The process of clearing an electronic check can vary slightly between different providers, which may affect their processing times.

Checks 52
article thumbnail

Understanding B2B Payments: Exploring Payment Methods and Key Terms

EBizCharge

This step can involve verification of the payer’s identity and authorization of the transaction by relevant stakeholders within the buying organization. ACH transfers Automated Clearing House (ACH) transfers have emerged as a preferred B2B payment option for electronic bank-to-bank transactions.

B2B 52
article thumbnail

Death And Taxes: One Is Becoming Much More Digital

PYMNTS

And digital payers are striving to win more business from tax filers this year. As of May 2018, over 85,297,000 million taxpayers have received faster federal tax refunds via direct bank deposits into bank accounts through electronic bank transfers. That’s up from about 59 percent in 2008. “As