North is making waves with its flexible payment options, enabling merchants to offer their customers the ability to pay by bank through Automated Clearinghouse (ACH). Greg Gorman, Vice President of Product Management at North, states, "Customers want payment flexibility between card payments, digital wallets, and now the growing trend of Pay-by-Bank through ACH."
Today's payment landscape is evolving quickly, with more customers choosing to pay directly from their bank accounts instead of using cards. This trend towards ACH transactions is driven by convenience and enhanced security, and has the additional benefit of cost savings for merchants. North is leading by offering a streamlined payment experience through a single integrated solution.
Let’s take a quick look at the positives, for businesses as well as their end customers.
Benefits for merchants:
- Unified payment system: North's platform allows merchants to accept cards, bank accounts, and digital wallets through one provider.
- Operational efficiency: Simplifying receivables, collections, reporting, and reconciliation reduces administrative tasks.
- Growth focus: With less time spent on collections, businesses can focus on growth, innovation, and customer service.
Advantages for customers:
- Payment flexibility: Customers can pay anytime, anywhere, using their preferred method, whether it's a bank account, card, or digital wallet.
- Enhanced experience: This flexibility boosts convenience, customer satisfaction, and loyalty.
Actionable steps for merchants:
- Evaluate current systems: Assess how well your payment systems support multiple payment methods.
- Consider integration: Look into integrating a platform like North’s to streamline operations.
- Understand customer preferences: Regularly survey customers to learn their preferred payment methods and adapt as needed.
North's goal is clear. By handling payment complexities, we allow you to focus on what truly matters. You can concentrate on scaling your business and achieving your goals.
Implementing ACH Pay-by-Bank can benefit your business in several ways:
- Offer diverse payment options to your customers.
- Integrate North's solutions for seamless transactions.
- Monitor customer preferences and adapt accordingly.
- Prioritize customer service and business expansion over payment issues.
While the majority of customers prefer modern payment methods, some may still opt for traditional options. It's crucial to cater to all preferences by offering a variety of methods.
North continues to innovate, ensuring you have access to the latest features for an optimal payment experience. By partnering with North, you can enhance your payment processes and focus on running your business effectively.
North is a leading financial technology company that builds innovative, frictionless end-to-end payment solutions designed to simplify and grow businesses of all sizes. From the front door, to the back office, the developer world, and partnerships that expand the payments landscape, North offers proactive, comprehensive merchant services, in-house processing, and more.
