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These financial institutions all follow ACH rules and regulations by the National Automated Clearinghouse Association (Nacha). ACH is a digital extension of the paper check and is often referred to as auto-pay, direct debit, and directdeposit. A typical ACH transaction is like a machine with multiple moving cogs.
PayPal-backed platform Xoom, for example, recently launched a new service that quickly processes high-value remittance transactions, a feature that could help Indian citizens living overseas quickly transfer money back home to family and friends. Seeking P2P Payments Domination, Zelle Seeks to Deliver Instant Gratification.
Instead of going through a third-party payment gateway, your ACH PayFac will allow the use of its own platform to process your payments. This is pretty much similar to the service that PayPal offers. Most ACH PayFacs offer instant onboarding , making it quick and easy for merchants to start accepting payments.
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