ACH Federal, a new Chattanooga, Tenn.-based electronic payments solutions provider, has formally announced the launch of a suite of automated clearinghouse (ACH) processing and merchant services solutions, according to a press release.
The 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. In the merchant services space, ACH federal offers debit and credit card transaction processing for business customers.
ACH Federal was founded in 2007 and began working with banks in mid-2009. Since May, it has processed more than 1.8 million transactions. "Our secure, reliable electronic payment processing system helps to streamline the process, reduce costs and mitigate risk," ACH Federal vice president of operations Clint Blaylock said in the press release.