PayFabric launches ACH processing via EVO payments


EVO payments, a global provider of payment technology integrations, is launching a new ACH system to enable merchants to send and receive debit payments directly to and from customers, according to a Press release.

EVO ACH is integrated with the EVO payment gateway PayFabric, indicates the press release. It will allow the company’s merchants to offer customers an additional means of payment.

“Our merchants will benefit from our enhanced digital payments offering, which will reduce friction with their customers, increase payment speed and significantly reduce administrative costs,” said EVO Payments President for the Americas. Brendan Tansill in the output.

The service can be integrated with a merchant’s website or a third-party app, the statement said. There is transaction support for mail order orders, phone orders, e-commerce sites, and subscriptions.

PayFabric is a secure solution for accepting and managing payments, the statement said. The service allows greater speed and security when making payments.

In separate news, Nacha widened his Phixius The ACH payment data platform in May, adding three new participants, PYMNTS reported. These users got the platform up and running, resulting in a collective payout of $ 400 million.

The platform comes with the exchange of supplier information and pre-payment information as well as post-payment data, with two parties linked through Distributed Ledger Technology (DLT), standards of ISO 20022 messaging and application programming interface (API) integration.

Also in May, the Managing Director and Senior Vice President of EVO Payments Greg Castro told PYMNTS that many companies are using SAP to get around the big redesigns of B2B payments digitization.

He said that EVO’s collaboration with SAP will help companies research strategic ways to digitize. One of the challenges for SAP has been that companies have tried to adapt to increasing amounts of payment types, but the integration of EVO should help add credit card processing.

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NEW PYMNTS DATA: FOCUS ON AI: THE BANK’S TECHNOLOGICAL ROADMAP

About the study: The AI ​​In Focus: The Bank Technology Roadmap is a research and interview report examining how banks are using artificial intelligence and other advanced IT systems to improve credit risk management and other aspects of their operations. The Playbook is based on a survey of 100 banking executives and is part of a larger series assessing the potential of AI in finance, healthcare and others.



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