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PayFabric Debuts ACH Processing Via EVO Payments

PayFabric Debuts ACH Processing Via EVO Payments

June 24, 2021 at 01:07AM
by PYMNTS

EVO Payments, a global provider of payment technology integrations, is debuting a new ACH system to let merchants send and receive debit payments directly to and from customers, according to a press release.

EVO ACH is integrated with EVO’s payment gateway PayFabric, the release stated. It will let the company’s merchants offer customers an additional payment method.

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

The service can be integrated into a merchant’s website or third-party application, according to the release. There is transaction support for mail orders, telephone orders, eCommerce sites and subscriptions.

PayFabric is a secure solution for accepting and managing payments, the release stated. The service allows for greater speed and security when putting payments through.

In separate news, Nacha expanded its Phixius ACH payment data platform in May, adding three new participants, PYMNTS reported. Those users have put the platform in place, resulting in a collective $400 million processed.

The platform comes with the exchange of vendor information and pre-payment information along with post-payment data, with two parties linked through distributed ledger technology (DLT), ISO 20022 messaging standards and application programming interface (API) integration.

Also in May, EVO Payments General Manager and Senior Vice President Greg Castro told PYMNTS that many companies are using SAP in order to get around large B2B payments digitization revamps.

He said EVO’s collaboration with SAP would help companies looking at strategic ways to digitize. One challenge under SAP has been companies trying to adapt to increasing amounts of payment types, but EVO’s integration should help with the addition of credit card processing.