USIO - As Online Payments Skyrocket This Company Reportedly Solidifies Its Speed And Certification
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An automated clearinghouse (ACH) is an electronic network capable of carrying out differenttypes of money transfers between banks. As the primary method ofelectronic payment available to both institutions and individuals, ACHpayments dominate, with over 7 billion transfers made in the first quarter of 2022 alone.
While consumer billpayment is still the largest percentage of ACH transfers, there are awhole host of ACH categories, including business-to-business (B2B),direct deposit, and person-to-person.
Companies working in the ACH payment industryinclude Block Inc. (NYSE: SQ), National Processing, andPaymentCloud.
ACHtransfers can either be made as credit or debit payments and since2016 there is the option for money to be fully transferred on the dayof payment. Security checks often mean the transfer can take severaldays, and while the majority of transfers remain multi-day, theNational Automated Clearing House Association (NACHA) reported thatsome of the greatest growth is in same-day payments, suggesting thatdelivery speed is an important consideration in the rapidly expandingdigital market.
One company lookingto take advantage of the spurt in same-day ACH payments is UsioInc. (NASDAQ: USIO). Usio describes itself as among the firstfintech companies able to achieve same-day delivery of funds at a rateconsiderably cheaper than credit card transfers. It also touts a NACHAThird-Party Sender certification, a voluntary certification thatserves as an indicator of the companies striving to providetop-quality payment solutions.
Safe, Certified, Same-Day?Usio’s ACH Service
Usio is a cloud-based, broad-industry fintech company thatoffers a variety of payment solutions to businesses, nonprofits, andgovernment agencies. Its services include payment facilitation(PayFac), prepaid card issuing, card processing, and ACHpayments.
Usioespecially looks to serve clients seeking B2B transactions,disbursements, and bill payments. Its website claims to employmultiple originating financial depository institutions (OFDIs) topainlessly transfer money, arguing that its ACH system makestransferring funds both simpler and cheaper, while its NACHAcertification guarantees the highest level of compliance.
Usio claims to have astrong profit margin on each transaction, with ACH payments now makingup 24.9% of Usio’s revenue. It also announced an increase, onaverage, of 23% across all categories of ACH payments from the firstquarter of 2021 to the same period in 2022.
Its growth in ACHtransactions is coming at a time when the company is expecting toreport record expansion in its electronic payment and financialprocessing, according to an April 26 press release. It has seen atotal increase of 18% in dollars processed from the first quarter of2021 to 2022, processing a record $2.4 billion for the second quarterof 2022.
To learnmore about Usio, visit its website https://usio.com/ .
Usio, Inc.is a tech-enabled payment solutions provider to merchants, billersand software companies . We provide an extensive set of tailoredproducts to deliver world-class payment acceptance, processing, andrisk/fraud management.
This post contains sponsoredadvertising content. This content is for informational purposes onlyand is not intended to be investing advice.
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