UseMyServices Joins Forces with Western Clearing to Lower ACH Returns
Summary
It’s safe, easy, user friendly - and most importantly - lets you offer a cost-effective payment alternative to your customers that don’t have or want to use their credit cards, while reducing your returns.Seattle, WA, March 06, 2014 --( PR.com )-- Seattle-based ACH processor, Western Clearing LLC and Toronto-based payments technology provider, UseMyServices, Inc, have joined forces to launch an innovative and cost-effective new tool aimed at solving a major ‘pain point’ for ecommerce Merchants that accept ACH or EChecks: high, and costly, return rates.ACHreturnsRX (RX) is an innovative new technology that aims to lower NSF rates of ACH, ECheck and Check 21 transactions by allowing the customer to validate their bank account balance at the time of the online transaction or purchase, via a simple and quick log-in process through the RX platform.“It’s a safe and user-friendly process that consumers are used to already since so many other services utilize the same type of process today,” said Joseph Iuso, CEO of UseMyServices.“The difference with our new product is that our proprietary technology makes this solution affordable for virtually any ecommerce merchant.”ACH transactions are gaining popularity in the ecommerce space due to the low transaction cost compared to the high cost of processing credit card payments…but the competitive price can be offset by the high rate of returns due to non-sufficient funds when the transaction hits the customer’s bank account.According to Mitch Wiggins, CEO of Western Clearing “With RX, the Merchant will know immediately if the customer is trying to make a payment from a bank account with insufficient funds to cover the purchase amount, and can either offer the customer other payment options, or simply fail the transaction.It’s the Merchant’s choice as to how to handle the situation, but the bottom line is that the Merchant has just avoided a potential NSF fee or worse - a fraudulent transaction.”Although ACHreturnsRX has focused so far on verticals normally considered ‘high risk’ by the payments industry, it has attracted a great deal of interest from several major merchants as well as payment gateways, in large part due to the fact that the underlying technology that runs RX has a loyal, established merchant base internationally.“ACHreturnsRX is a new product for us - but the underlying technology is tried and true,” added Melody Wigdahl, VP, UseMyServices.It’s safe, easy, user friendly - and most importantly - lets you offer a cost-effective payment alternative to your customers that don’t have or want to use their credit cards, while reducing your returns.