Automated Clearing House (ACH) is a federally regulated electronic network used by banks to send and receive bill payments, e-checks, direct deposit statements and other types of transfers. This interbank network is similar to what financial institutions use for wire transfers, but ACH usually works best for batched, automated or recurring payments.
Credit card fraud is on the rise as thieves develop even more inventive ways of stealing financial data for unauthorized purchases. The introduction of EMV credit cards is helping to prevent fraudulent activity within brick-and-mortar retail environments. However, in the online world, the security features that come with these chip-enabled cards offer limited protection.
As a result, experts predict that Web-based credit card fraud could reach $6.4 billion by 2018.
The Automated Clearing House (ACH) network is a federally regulated interbank system for sending and receiving electronic payments. Companies use the ACH network for everything from bill payments to direct deposits to eChecks.
Though if you already accept credit card payments in your business, you can already "electronically" receive money from customers.
The growth of EMV chip-enabled credit cards has helped make brick-and-mortar retail shopping more secure. In order to complete a transaction, the card (and chip) must be physically present, and in countries that have adopted EMVs as their official standard, retail credit card fraud has gone down.
Invented in 2009 by an anonymous creator using the alias Satoshi Nakamoto, Bitcoins are one of the earliest known examples of “cryptocurrency.” In layman’s terms, this is a type of digital currency that is generated and managed electronically — without any form of centralized control.