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Dear wayne, Hello.
I hope the Holidays treated you well.
This issue we'll talk about new developments in the ACH world.
ACH News
First is some interesting news about the ACH becoming international in it's scope.
The Federal Reserve annonced two pilot programs that began in Novembver that feature bi-directional credit flows from 5 countries: Austria, Germany, the Netherlands, Switzerland and the UK.
There is also a US to Mexico flow pilot with the converse set to begin in the latter part of 2004.
Payments can currently flow from the US to Canada but the reverse is not currently on tap.
What it means to you is that within the next year or two there will be methods for international ACH. If your product can be promoted and sold worldwide you may now have a another payment mechanism at your disposal.
Use Constant Contact To Market To Customers For Pennies! »
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Intersting Stats
Some interesting stats on ACH transactions. From 2002- 2003 the percentage increase in transaction type is shown:
ARC (mailed payment check conversion) +718%
POP (check conversion-POS) +22.5%
RCK (NSF check recovery) +21%
TEL (telephone) +176%
WEB (Intenet based) +198%
PPD (consumer pre auth recurring/one-time debit) -3%
Its's clear that electronic funds transfer is becoming more and more popular and no wonder. It's cheap and easy!
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Visit the member site to view the tools and play the golf game-it's fun. Have a profitable week.
Sincerely,
Wayne
Cash Flow Technologies ACH-Payments.com
email: wakey@acheftproviders.com
voice: 518.580.0098 518.581.7662
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Past Issues, Member's Site and FREE e book You can get copies of past issues here
Access the Member's Tools Site for routing # look up, phone number look up, public records, FREE business resources and lots more.
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ACH Payments/Cash Flow Technologies · 15 Ingersol RD · Saratoga Springs` · NY · 12866
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"What's New In The ACH World (5/11/03)"
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