About The E.Comm Group, Inc.
The E.Comm Group, Inc. provides electronic payment services to companies in niche markets where cash flow can be increased and stabilized using the Federal Reserve's Automated Clearinghouse (ACH) network. Companies previously had access to ACH services only through large banks or other financial institutions using cumbersome and proprietary modem software.
The E.Comm Group, Inc. now provides unique electronic payment solutions that integrates ACH functionality with existing account management and billing software, point of sale systems or public web sites. This technology allows electronic payments to be securely processed using the public Internet infrastructure.
The Automated Clearing House (ACH) Network is a highly reliable and efficient nationwide batch-oriented electronic funds transfer system governed by the National ACH Association (NACHA) operating rules, which provide for the interbank clearing of electronic payments for participating depository financial institutions. Electronic payments using the ACH Network have been widely accepted for years by government institutions and payroll and benefits administration companies.
From 1990 to 2000 ACH transaction volume had an average annual growth rate of 16.4%. And in 2000 there were 6.9 billion ACH payment transactions completed worth over 20.3 trillion dollars.
"Based on 2nd quarter (2004) figures, ARC (Accounts Receivable Conversion) is now used to convert approximately 10 percent of all consumer bill payments made by checks into electronic payments. NACHA projects that the number of ARC e-check payments is likely to reach or exceed one billion in 2004, making it the fastest ACH payment application to reach one billion payments annually in the history of the ACH Network."
source:Payment Resource One
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