Automated Clearing House (ACH) Payments

Automated Clearinghouse (ACH) Payments

Overview

Some suppliers may not be able or willing to receive credit card or virtual card payments. They may have technical constraints or want to avoid credit card fees, even at the cost of faster payments.

We get it. Corporate Spending Innovations offers payment solutions to match every supplier’s requirements. We make it easy for you to meet your suppliers where they are in their payment processes.

Automated Clearinghouse (ACH) Payments

How it Works

Automated Clearing House (ACH) payments are an alternative payment solution to virtual credit cards or paper checks. Payment funds are pushed directly into the supplier's bank account. Faster than a paper check, funds are usually received within one business week – no printing, signatures, or postage needed. ACH transactions come with electronic records, cost less than credit card transactions, and have no supplier fees.

1

Payment

Payment is initiated by the customer. 

2

Remittance

The bank submits the file into the ACH network for processing and delivery to the supplier’s bank account.

3

Settlement

The supplier receives payment in their bank account along with an electronic remittance advice.

What to Expect

Simplicity

Your payments and remittance details live on one platform. Say hello to simple reconciliation and easy access to transaction details.

Control

Match your workflow. Our platform provides controls throughout the payments sequence so you never send out a payment without the proper approvals.

Accuracy

Eliminate costly human errors and avoid the time-consuming manual processes that create messy data.

Visibility

Receive real-time payment status updates to avoid late payment fees and quickly identify duplicate invoices.

Additional Income

Our proprietary B2B Payments Network is similar to ACH, transferring funds directly into the supplier’s bank account. It also generates invoice-level transaction details and provides an opportunity to increase revenue by earning rebates on transactions. If your suppliers do not accept cards, but you’re still looking to automate your payments, our proprietary network (ACH+) is the solution.

CSI can automate your accounts payable process, whether it’s through virtual credit cards, ACH, our proprietary network (ACH+), or checks.

Learn more. Call 866-998-0437 and speak with a certified AP expert today or schedule a demo.

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