ACH Federal Launches to Set New Standard in Payment Services for FI's

Jan 07, 2010 08:00 ET

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

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.



For media inquiries, please contact:

LaunchSquad for ACH Federal

Gavin Skillman or Brigid Zapp

ach@launchsquad.com

(212) 564-3665