WePay, a payments provider service for online platforms, has introduced ACH bank transfers as another payment type that its partner platforms can offer their customers.
ACH (Automated Clearing House) is an electronic network employed by US financial institutions to batch and move funds from one bank account to another.
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The company said that the launch will enable US customers with bank accounts to pay on platforms directly – without having to involve the credit card networks -using their bank accounts.
"Our solution works for custom integrations as well as our standard iFrames, is designed to limit checkout friction for first-time payers, and is mobile-friendly," WePay said in a statement.
Karen White, VP of product at WePay, said: "At a time when commerce increasingly flows through online platforms, we’re delighted to lead our category in offering more customer-friendly ways to get paid. We’re particularly excited to see this launch help customers conduct larger transactions within their platforms like never before. This is good for everyone."
WePay’s online partner platforms include GoFundMe, Care.com and FreshBooks.
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