The document outlines the rise of echeck payment processing due to its convenience and integration with digital payment systems, as traditional payment methods such as cash and physical checks decline. Key advantages include better technology, security, and verifiable evidence, making echecks appealing for businesses and consumers alike. As adoption grows, integrating echecks into existing payment infrastructures is encouraged to enhance transaction efficiency.

1. Know The Reason Why eCheck Payment Processing Is Rising
As time has changed, consumers think of choosing the companies that bring convenience in
the fast-paced digital world.
Many big companies in the US are searching for ways to streamline the payment process and
even improve the customer transaction experience by adopting the eCheck payment
processing system.
Given below are the reasons why eCheck payment processing is taking over the business
world-
1. Physical Checks Are Becoming Redundant
Many people are switching to digital payment technology, coinciding with the decline in
traditional payment methods. As per the study conducted by Federal Reserve, the overall
amount of physical check transactions has declined by 2.5%.
Moreover, traditional paper checks have declined steadily since 2003. This is why eCheck
services have replaced paper-based checks.
2. Decline In Cash
As per the Federal Reserve Bank of San Francisco, cash has always remained the dominant
method related to payment for many Americans.

2. Since half of all transactions are under 50$, with newer and better payment methods, the use
of cash has also declined. From 2012 to 2015, the use of cash has slightly decreased from
40% to less than 32% of all transactions.
3. Availability of Better Technology
Many consumers switch to digital modes of payments like credit cards, debit cards, and the
Automated Clearing House (ACH) system. eChecks work as a part of the ACH system, and
this type of payment is measured to provide quick transactions across the country.
Even the payments through this system have risen by 3 billion since 2012.
It has been reported that nearly 23.5 billion ACH transactions have got completed, with an
overall value of 145.3 trillion.
4. eChecks Have Become More Convenient
eCheck payment processing is the technology that remains convenient for businesses and
consumers. These eChecks have better adoption rates than customers dependent upon check
payment.
5. Wider Acceptance
The digital payment systems have network effects. This implies that the payment network
remains valuable and useful when many users are using it. The eCheck and ACH services
have steadily grown in recent years. On the other side, you can easily integrate eCheck
payment processing into your eCommerce business.
6. Easy Integration
One good thing about eCheck payment processing solutions is the easy integration into
their existing account and sales infrastructure. It allows customers to transact eChecks, and
the transaction can easily get connected to their accounting software. Moreover, it eliminates
the cost of adoption too.
7. Verifiable Evidence
The most priced key benefit of eCheck payment processing for the merchant and customer
remains the verifiable transaction evidence. The eChecks can be traced and managed
efficiently, reducing the risk of misunderstandings and payment differences with suppliers,
customers, and vendors.

3. 8. Data Security
With the help of eCheck payment processing, you can easily accept payments without the
need to store and protect sensitive customer data. Payees aren’t required to submit their
details and government-issued documents.
9. Security
eCheck services help in securing end-to-end payment. It allows one business to gain
guarantees on the checks through their payment processor while the customers remain
protected under Regulation E. Security also remains the most crucial digital payment feature
through ACH.
10. Ease of Use
eChecks can be used easily and carry a lower risk of human error. So, the transactions of
eChecks are automated and can be cleared through the nationwide network, which implies
that payments are accessible mode to get completed.
Therefore, it would always be advisable for a business consultant to connect with the suitable
payment processor needed to integrate the system and provide convenience to their
customer.
Final Read
It becomes imperative to adopt new technologies and provide convenience to grow your
business. Many merchants prefer to take eChecks, and also integrate them into their payment
infrastructure.
If you want to streamline your transactions and simplify your payment process, then choosing
eCheck services is a good option.
Originally published: https://bit.ly/3QGbXt9