If your business bills customers for recurring or subscription-based payments, you should be utilizing ACH payment processing.

As acceptance for digital payment grows, the debate for whether cash can continue as a payment method continues.

In order for your ATM business to flourish, you will need to partner with the right ATM processor. An ATM processor serves as the communication between your machine and the banking networks so users can remove and insert their funds.

It has never been more important to manage your ATM fleet to offer best-in-class support for your customers. The continued growth of omni-channel banking means there are multiple ways for potential clients to interact with their banks daily, and selecting to interact with their bank via your ATM machine is a choice. Your goal, as the business owner, should therefore be to make the customer’s choice to interact with your machine as seamless and simple as possible.

Nacha is continuing to crack down on auditing for all Third-Party Service Providers and Third-Party Senders. In order to remain in compliance, these entities must conduct an audit of compliance by December 31, 2020. Many myths surround the Nacha audit, and at EFX, we are working to dispel them to help our clients.

Did you know that recent changes to Nacha Operating Rules require that all Third-Party service providers and Third-Party Senders must conduct an audit of compliance by December 31, 2020? If you are unsure of the new rules, how to remain in compliance, or need guidance navigating your annual audit, EFX may be able to help by recommending an accredited auditing firm.

Have you ever heard the saying: “Make your money work for you?” While many people relate this saying to investments, it can also be applied to passive income.

ACH payment speed has certainly improved over the past few years, however. Until 2015, ACH transfers took up to five days. Now, advancements have made same-day ACH settlement available.

Whether you are looking to start your own ATM business, or you are a business owner looking to increase revenue by offering additional services, ATM ownership may be a profitable business model for you.

Year to date, 2020 has not been kind to most people’s bank accounts. Due to COVID-19, countless individuals have been laid off and are looking for work, while many business owners have struggled to keep their doors open. On both sides of the spectrum, people are looking for new ways to make a living.