We’re excited to unveil our latest feature added to InkSoft embedded payments, giving shops more flexibility in sending and receiving funds with ACH (Automated Clearing House)!
ACH is a payment processing system that shops and customers can use to send and receive electronic funds between their respective banks. Combined with the ability to accept all major credit cards, ACH gives your shop the ultimate flexibility in processing customer transactions with InkSoft embedded payments.
If you’ve already set up payments for your InkSoft account, here’s how to enable ACH:
If you’re currently on InkSoft’s legacy platform, you must upgrade to use embedded payments. This upgrade unlocks additional functionality and costs nothing. Sign up here, and a Customer Success Manager will contact you to schedule your upgrade.
Benefits of ACH Payments
ACH offers several benefits for shop owners and customers for secure transactions, maintaining cash flow, and lowering processing fees. Here are a few worth noting.
1. Lower costs
Compared to credit cards, ACH is a popular option for business owners because processing fees are less expensive than credit cards. With InkSoft, ACH fees are capped at $20 per transaction*, unlike credit card transactions. That means with larger orders, ACH helps you save hundreds of dollars in fees.
Here’s how it works:
Consider a $5,000 order. With ACH, you will pay just $20 in transaction fees. If you took payment via credit card that charges 3.5% fees (a standard fee), you would pay $175. ACH would save you $155 in fees for that transaction.
Multiply that order 10 times in a month, and you can see how quickly the savings add up with ACH.
*InkSoft ACH fees are 1% + $0.30 per transaction, with a hard cap of $20.
2. Added convenience
ACH is convenient for customers since many of them shifted from paper checks to digital payments over time. One recent study found that 40% of respondents have moved to digital payments from physical checks in the past few years. And they want that headache-free option from the places they do business with.
3. Reliable cash flow
Next to mockup approvals, one of the biggest headaches print shops face is staying on top of account receivables. Every month there are usually one or two accounts you may be chasing after for overdue payments on an order. ACH reduces that headache because customers pay the invoice digitally, using their bank account. You’ll arrange payment details up front instead of chasing someone down for an unpaid invoice 60, 90, or 120 days later.
ACH is also faster than paper checks. You’ll typically get your money within 3-5 business days rather than waiting for a deposited check to clear.
Plus, having customers set up on ACH makes it simpler for you and your team to track your sales over the year so you have more accurate reporting.
If you can see where your profits and strengths are year-over-year, building a robust and profitable print shop that runs smoothly will be easier.
If you have questions about upgrading your InkSoft account from the legacy platform, please get in touch with your Customer Success Manager to ensure no disruptions in your payment services on June 28. If you don’t know your CSM, email firstname.lastname@example.org.
If you’re already on InkSoft’s upgraded platform, here are resources on getting set up with embedded payments:
Getting Setup, Deposits and Refunds, and Disputes
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