How a Direct ODFI Relationship Benefits Money Service Businesses for ACH Processing Today’s financial ecosystem has a crucial player in Money Service Businesses (MSBs). These firms offer customers a variety of services—such as making money transfers, exchanging currencies, and paying bills—that keep the world of electronic payments moving. For MSBs,...

Will Managed PayFac opportunities benefit from NFC transactions? We are in a period of quick technological change, and payment methods seem to be changing quicker than ever. One necessary change that is on the horizon is the decline of chip credit cards, which are being replaced by newer, more efficient...

A direct relationship with an Originating Depository Financial Institution (ODFI) for high-volume ACH (Automated Clearing House) payment processing provides a number of advantages—especially for businesses and organizations that send a lot of ACH payments. Here are the main ones: 1. Cost Savings Reduced Processing Fees: Obtaining a direct ODFI relationship...

Canada’s financial system is structured around the Electronic Funds Transfer (EFT). This program allows for seamless movement of electronic money—business or personal—between banks without requiring negotiable instruments (that is, checks or cash). The majority of people, and an overwhelming number of businesses, operation perfectly well within the EFT system. Let’s...

How Canadian EFT Can Help High-Risk MerchantsPayment processing can be a serious problem for merchants in high-risk industries, least of all being the Cannabis sppace. They tend to be seen by banks and processor partners as not worth the trouble—too risky, for too many reasons, to actually be the kind...

Today’s fast-paced digital economy is a rewarding but difficult space for businesses. It offers many avenues for growth, yet starts and scales require so much attention, and so many resources, just to keep up that payment experiences can’t help but suffer. Most of us expect to be able to pay...