Contact Information: For media inquiries, please contact: LaunchSquad for ACH Federal Gavin Skillman or Brigid Zapp ach@launchsquad.com (212) 564-3665
ACH Federal Launches to Set New Standard in Electronic Payment Services for Financial Institutions and Small Business Customers
New Technology Company Already Processing Over 1.8 Million Transactions in 2009
| Source: ACH Federal
CHATTANOOGA, TN--(Marketwire - January 7, 2010) - ACH Federal, based in Chattanooga, TN, is a
provider of electronic payment services to both banks and businesses.
Today, they are formally introducing their suite of solutions including ACH
processing and merchant services. Founded to address the growing need for
electronic payment processing ranging from direct deposit to web payment
portals, ACH Federal has already processed more than 1.8 million
transactions since May 2009.
ACH Federal's easy-to-use Web-based platform enables financial institutions
and businesses to securely process ACH transactions through a terminal that
connects directly to the Federal Reserve in conjunction with a "sponsor
bank." The company offers Merchant Services, processing debit and credit
card transactions for business customers. As an outsourced solution, ACH
Federal assists financial institutions to mitigate risk, reduce costs and
drive better organizational efficiency. The unified platform meets the
highest security standards, dual file approval systems, multi-factor
authentication and best-of-breed data encryption technology for all
transactions.
According to NACHA, The Electronic Payments Association, 3.77 billion ACH
transactions were conducted in the third quarter of 2009, totaling more
than $7.3 trillion. TowerGroup, a leading financial services industry
research firm, forecasts that ACH transactions will grow 7 percent annually
through 2012, totaling $31.24 trillion in ACH transactions in 2010.
"We are seeing a growing demand for Web-based electronic payments options,"
said Pam Pliler, Senior Operations Officer at Summit Bank, in Eugene, OR.
"ACH Federal provides us with a comprehensive end-to-end solution and the
strong industry expertise that enables us to deliver a seamless experience
for our customers."
In addition to working with financial institutions, ACH Federal also
provides businesses with a central Web-based interface to collect payments
from customers, make payments to vendors and deposit payroll funds into
employee accounts. With debit and credit card processing, ACH Federal is a
one-stop-shop for electronic payment processing services.
"With over 70 years of combined experience in ACH transactions, ACH Federal
provides banks and small businesses with the trusted advice and customized
services to uniquely address their electronic payment needs," said Clint
Blaylock, VP of Operations at ACH Federal. "Our secure, reliable electronic
payment processing system helps to streamline the process, reduce costs and
mitigate risk."
About ACH Federal
ACH Federal provides a simple and secure Web-based solution for banks and
businesses to reduce the risk associated with electronic payments, while
decreasing costs and increasing efficiency.
ACH Federal was founded in 2007 by three accredited ACH professionals with
vision for providing better ACH solutions and customized services to banks
and small businesses. Today, the company's expert management team has more
than 70 years of combined ACH industry experience including six Accredited
ACH professionals (AAPs). ACH Federal began working with banks and small
businesses in mid-2009 and has already processed more than 1.8 million
transactions. For more information, visit www.ACHFederal.com.