Our significant customer momentum and rapid growth in transactions processed demonstrate the heightened demand for a white-labeled electronic payments platform
Seattle, WA (PRWEB) April 26, 2010
ACH Federal, the leader in Web-based electronic payment processing services to banks and small businesses, today announced tremendous growth in new customers and transaction processing since the company formally launched on January 7, 2010. The company has signed more than 20 financial institutions and more than 15 direct small business customers, and recorded a 77 percent increase in ACH transaction volume since the beginning of the year. ACH Federal has processed more than 3.2 million transactions since March 2009, and is currently averaging more than 400,000 transactions per month.
ACH payment volume industry-wide is experiencing impressive growth and ACH Federal has positioned itself to capitalize on this growing trend. According to NACHA, the electronic payments association, ACH payment volume increased by more than 475 million transactions in 2009, bringing year-end total transaction volume to 18.76 billion, a 2.6 percent increase over 2008 activity. In addition, the industry continued to see a positive trend in risk mitigation, witnessed by the ongoing decline in the unauthorized debit volume, which was down 9.6 percent from 2008.
“Our significant customer momentum and rapid growth in transactions processed demonstrate the heightened demand for a white-labeled electronic payments platform,” said Craig Cotter, director of sales for ACH Federal. “We are focused on providing the best technology and services to enable financial institutions and small businesses to securely process ACH transactions, while avoiding the higher fees associated with credit card transactions and the costs involved with check processing.”
As an outsourced solution, ACH Federal assists financial institutions and small businesses to mitigate risk, reduce costs and drive better organizational efficiency. The unified platform meets the highest security standards, dual file approval systems, multi-factor authentication and best-of-breed data encryption technology for all transactions. ACH Federal provides a streamlined Web-based platform to securely process ACH transactions through a terminal that connects directly to the Federal Reserve.
About ACH Federal
ACH Federal provides a simple and secure Web-based solution for banks and businesses to reduce the risk associated with electronic payments, while decreasing costs and increasing efficiency. ACH Federal was founded in 2007 by three accredited ACH professionals with vision for providing better ACH solutions and customized services to banks and small businesses. Today, the company's expertise totals more than 80 years of combined ACH industry experience including six Accredited ACH professionals (AAPs). For more information, visit http://www.achfederal.com.
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