Now, on the Enterprise Plan, you can accept eCheck payments with the Authorize.Net Connector!
An eCheck payment is a direct bank transfer through an Automated Clearing House (ACH) transaction. With Authorize.Net, you’ll be able to accept eChecks for U.S. banks.
If you’re a merchant, you’ll find that eChecks carry a substantially lower fee than credit cards. For example, eCheck fees are 0.5% to 1.75%, whereas credit card fees are around 3% to 4% (check the User Guide for more details about the rates). On the other hand, you’ll also find the approval process more thorough.
Keep in mind, however, that consumers and customers may prefer to pay with a credit card for various reasons (e.g., the ability to pay in installments, rewards, consumer protection).
We’ve also cleaned up the UI a bit, so it’s better organized and easier to use. For example, you can collapse lists for field options (e.g., the list of options for a “Country” field).
You can now also verify credit card payments with the CVV code, and see subscription IDs reported separately from transaction IDs. In addition, FormAssembly will automatically authorize a subscription transaction before creating the subscription.