An automated clearing house (ACH) is a financial network used for electronic payments and money transfers. ACH payments are a way to transfer money from one bank account to another without using paper checks, credit card networks, wire transfers or cash. TeleCheck® a check acceptance service from Fiserv:
- Enables merchants to safely process check and ACH payments, and
- Assists in reducing fraud and other risks associated with accepting payments and opening accounts.
To support Payeezy migration, ACH TeleCheck is available to all Clover merchants on software-as-a-service (SaaS) plans and offers:
- Check acceptance by phone—Merchants can gather information over the phone, also referred to as check by phone (CBP), to process checks. The customer needs to provide order and payment details and take their consent over the phone to process funds.
- Check acceptance through the internet—Similar to CBP, merchants can gather information over the internet, also referred to as internet check acceptance (ICA). The customer needs to provide order and payment details and their consent using disclaimer agreements.
- Agreements—Customer consent for payments processing is required to process checks.
- For CBP, an authorization disclaimer or consent agreement is shared orally over the phone.
- For ICA, an authorization disclaimer or consent agreement is presented for acknowledgement.
Updated 7 months ago