article thumbnail

What Is an ACH API and How Does It Work?

Stax

It simplifies complex ACH transactions by removing manual steps such as logging into bank portals or uploading CSV files, reducing errors and improving efficiency. Understanding ACH transactions To fully understand the ins and outs of an ACH API, you first need to grasp the basics of how ACH payments work.

ACH 88
article thumbnail

Everything You Need to Know About Credit Card Processing

Stax

And 80% of those transactions are under $25. Fees include (but aren’t limited to) transaction fees, interchange rates, PCI compliance, and more. per transaction; 3.5% + 15¢ for key-in and scanned cards Varies; 1.8-3.5% per transaction; 3.5% + 15¢ for key-in and scanned cards Varies; 1.8-3.5%

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

100+ Payment Industry Terms Explained in Plain English

Clearly Payments

Transaction A payment made using a card or digital wallet. Settlement A settlement is when the funds from a transaction are actually transferred to the merchant. Batch A group of transactions sent for settlement at the same time. Batch A group of transactions sent for settlement at the same time.

article thumbnail

The Top Payment Methods For Small Businesses

Stax

Contact us 10 Top Payment Methods for Small Businesses Credit and debit card payments Card payments (credit cards and debit cards) account for 50% of the total number of small business transactions and remain the primary way customers make purchases on-site and online. You will need POS terminals to accept and process in-person card payments.

article thumbnail

What Are AI Agents? A Practical Guide for Accounting Teams

FloQast

Scalability : Automation of accounting functions supports growth and reduces the need to hire new team members as transaction volumes rise. AI tools must align with relevant regulations, such as IRS requirements for U.S. During times of talent shortage, scalability can help teams meet growing demands without overburdening staff.

AI 52
article thumbnail

As Federal Checks Disappear, Banks Face Surge in ACH Payments and Rising Fraud Risks

Finextra

About half of all federal checks by volume are for IRS tax refunds, with the rest primarily used for federal benefit payments such as Social Security and income support programs. ACH transactions will surge over a few weeks, placing stress on operations teams and core banking systems that may not be prepared for such a rapid increase.

ACH 52
article thumbnail

IRS Offers $625K For Help Cracking Cryptocurrency Secrecy

PYMNTS

The United States may have some of the world's best cryptographers working for the National Security Agency and other spy shops, but the Internal Revenue Service (IRS) is crowdsourcing at least part of its effort to beat the algorithms that cloak information about certain cryptocurrencies. Even the U.S.

IRS 96