What is ACH Debit?

by Cheqly team | | ACH Debit

Developed in the 1970s to replace paper checks for transactions involving U.S. bank accounts, the ACH (Automated Clearing House) network is an interbank messaging system. The primary method financial institutions use to arrange the transfer of funds into and out of accounts is ACH. It’s usually an ACH debit transaction at work when money is … Continued

What Does ACH Credit Mean? How does it work?

by Cheqly team | | ACH Credit

Do you pay your staff members by direct deposit? Have you used online bill payment? If so, an ACH credit has been sent to you. Millions of transactions like this are handled daily by the Automated Clearing House (ACH), a vital network in the US financial sector. When your company employs ACH payment solutions, you … Continued

Digital Wallets: A Comprehensive Guide for Beginners on How They Work

by Cheqly team | | Digital Wallets

Digital wallets are the product of the latest technology, and they are rapidly growing because of their versatility and ease of payment options. A report by FIS Global shows that by 2024, digital wallets will control 33.4% of point of sale (POS) spending, while cash will only make up 12.7%. What is a Digital Wallet … Continued

What Is a Contactless Payment? How Does It Work?

by Cheqly team | | Contactless Payments

Contactless payment is one of the buzzwords that’s important to understand. Contactless payment technology has the potential to significantly speed up and simplify transactions since it operates through your mobile device. Unlike EMV payments, contactless payments offer higher security than card payments. Magstripe cards are quite outdated, as they store static information linked to your … Continued

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