Stax
MARCH 27, 2025
For example, ACH transfers use the Automated Clearing House network, while debit card transactions rely on either a card network (Visa or Mastercard) or a payment processor (Paypal, Stripe, etc.). These help protect both businesses and customers against potential fraud.
Fi911
JANUARY 4, 2024
The Electronic Fund Transfer Act (EFTA) Enacted in 1978, EFTA regulates bank responses to consumer complaints and sets liability limits for lost or stolen debit cards. It was a response to emerging technologies like ATMs, electronic POS terminals, and remote banking.
Stax
JULY 9, 2024
Unless your business is intentionally cash-only, you’ll likely need to accept the major card brands such as Visa and MasterCard to stay in business. EFT payments have been around for many decades and have federal laws to protect the electronic transfer of funds. Q: Are EFT payments safe? Q: How are EFT payments regulated?
Stax
NOVEMBER 11, 2024
They are an additional type of payment you can take along with debit card transactions and credit card payments from card networks like Mastercard, Visa, American Express, and Discover. The EFTA outlines a set of rights and responsibilities for both the consumers and businesses involved in ACH payments.
Stax
SEPTEMBER 24, 2024
Non-discriminatory – Federal regulations like the Electronic Funds Transfer Act (EFTA) have guidelines in place to ensure that cash discounts are offered to all customers who pay using cash without discriminating against customers who pay using credit.
Clearly Payments
FEBRUARY 8, 2024
Payment Networks: Major payment networks such as Visa, Mastercard, and the Automated Clearing House (ACH) Network also play significant roles in regulating payment transactions. Payment Card Network Rules: Visa, Mastercard, and other credit card networks have their own sets of rules and standards governing the operation of their networks.
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