OLB Group to add ACH transfers into its SecurePay platform
The opening up of payment rails for small and medium businesses this year has been rapid. And in the age of payment digitization, integration of payment methods within accounting platforms is a key trend to watch.
This week, OLB Group, the US-based Omni-commerce and payments acceptance platform has announced that its payments gateway platform, SecurePay will now offer the support of ACH (Automated Clearing House) services.
Last week, Everlink Payments Services Inc partnered with Fintainium to provide integration of Fintainium’s platform with Everlink’s eHUB Digital Payments Platform while APS Payments had integrated its technology integration with an ERP solution, Sage X3.
OLB, which works with SMEs, will now be able to facilitate those businesses with faster payment acceptance while also reducing the labour cost associated with it.
“ACH was traditionally utilized for bank-to-bank transfers, but today it is considered a vital tool to securely and quickly move funds that are essential for efficient business operations,” said Ronny Yakov, CEO of OLB Group.
Apart from adding ACH into its payments system, other features include on-demand check printing and remittance which will reduce cost and labour for businesses, digital check processing and deposit of funds via ACH and digital payments solutions of B2B remittances which would eliminate paper checks, speeds fund availability, and automates accounting practices and documentation, the press release noted.
Yakov said, “Integrating this capability into a cloud-based service such as SecurePay provides businesses with tremendous flexibility and control of cash flow and operating costs. In addition, fees for ACH are typically less than the cost of card-based transactions and settlement is normally faster, giving businesses another compelling benefit.”
According to the company’s press release SecurePay payment gateway is a central element of OLB’s comprehensive Omni commerce ecosystem which provides businesses with a range of cloud-based services to help them in operational needs.