ACH Payments(NACHA/NACH/Direct debit System)
What you'll learn
- Complete knowledge of ACH payments and life cycle of ACH transactions
- Mandate/eMandate needs
- Why corporate prefers ACH payments over card payment and other mode of payments
- How to pay monthly bills automatically
- Clearing system and settlements
- Accounting entries
- Difference between ODFI and RDFI
- Difference between ACH credit and ACH debit
- ACH participants
- Use cases of ACH payments
- Mandate management system
- ACH file processing
- File presentment and settlement
- Batch file processing
- How pension and salary processing is done
- Absolutely no experience is required. We will start with the basics and gradually build up your knowledge. Everything is covered in the course.
This course covers Mandate management system and ACH payments.
This will also help you in understanding the payments processed by Paypal.
The ACH (Automated Clearing House) Payment Service enables you to electronically collect payments from your customers for either single-entry or recurring payments by directly debiting your customer's checking or saving accounts.
The most common uses of ACH are online bill payment, mortgage and loan repayment, and direct deposit of payroll. ACH payments are an efficient and cost-reducing alternative to paper checks and credit cards.
On the Internet, ACH is primarily used for person-to-person (P2P), business-to-customer (B2C), and business-to-business (B2B) payments.
Benefits of ACH Payments
Following are the benefits of ACH Payments
Provide your customers with an alternative to credit cards and checks.
Offer lower-cost payment than either checks or credit cards.
Faster payments than using checks.
Who this course is for:
- Software tester,Developer,TL,Pre-sales consultant,PM,Business analyst who are working in banking domain/Payments or wants to work in banking domain/Payments.
- Anyone who wants to learn about ACH payments
Experience in Data Science,Data Analytics, Statistics, testing, client delivery, plan creation and quality assurance, I have been leading teams in developing critical partnerships between banking companies and financial businesses. I work with business leaders in understanding their strategy and implemented cutting edge solutions for their organization.
My core competencies include Data Science, Machine Learning, Deep learning, NLP,Computer Vision, Data Engineering ,Oracle Database, DevOps, Automated Software Testing, UAT and System Integration Testing. I have served as a key member of the payment solutions delivery team as a Quality assurance professional to ensure comprehensive compliance across standards, regulations and specifications. With concerted experience in client delivery, I have also interfaced with corporate, government and other industry clients to ensure full proof implementations as per requirements.
I am a hands-on technology professional accustomed to working in competitive project based environments. My competencies are backed by strong credentials including a btech degree, block chain and testing certification and advanced command of testing suites, agile methodologies, monitoring tools and cross-platform skills.