Paying bills through debit, credit and other electronic means is an increasingly popular method of payment for many consumers. In fact, the number of Automated Clearing House (ACH) payments continues to rise dramatically in the United States. In 2010, more than 15.6 billion transactions were conducted via the ACH Network—a 3.5 percent increase from the previous year.
Although a convenient method of payment for many consumers of communication services, providers must manage the growing increase of ACH returns due to fraud and other reasons, such as invalid account numbers and non-sufficient funds.
On average, Communication Service Providers experience ACH return rates anywhere from 3-10% of their total revenues collected via ACH. With the average ACH return around $195, the process of collecting on ACH returns can be a time-consuming and expensive part of doing business.
Uncover how a North American Communications Service Provider reduced ACH returns by 64 percent with CSG's Check Verification solution.