Authorize.Net is a solution from Visa, a payment processing solution that simplifies online payments and provides the complex infrastructure and security necessary to ensure fast, reliable and secure transmission of transaction data.
Authorize.Net supports borth ACH Payments and Credit cards.
Authorize.Net Prerequisites
To be able to accept ACH payments using Omnibasis,
You must be a US based merchant selling to customers in the US;
You must have an Authorize.Net account configured in Omnibasis;
Your account must be enabled for eCheck.Net processing by Authorize.Net
Note: To use eCheck.Net you must submit the eCheck.Net application and undergo an underwriting process.
Configuring ACH payments in Omnibasis
- Configure your Authorize.Net account with Omnibasis.
- Enabled Authorize.Net account for eCheck.Net processing.
- Enable ACH Payments as an option for E-Commerce:
- Navigate to 'omniCommerce \ Settings'.
- Select 'Enable bank account as a payment method'.
Customer Bank Account Information
When customers choose to pay via ACH, they will have to provide their bank account information.
The following information is captured as part of an ACH transaction:
- Customer's Name as per Account
- Name of the Bank
- Type of Account
- Bank Account Number
- The Bank's nine digit Routing Number
After customers accept the authorization agreement a bank account is added.
The ACH workflow with Omnibasis
After customers confirm their payment with a Bank Card, the order information is sent to Authorize.Net.
When the transaction is accepted, the payment is marked as pending.
After the funds are transferred from the customer's bank account and the payment is received, the transaction is marked as Completed.
If the payment fails, due to some errors such as insufficient funds, the transaction is marked as Declined and payment must be retried or collected using an alternate method.
Credit Card Payments vs ACH payments
With credit card payments the authorization and transfer of funds happens immediately.
With ACH payments, the authorization and transfer process has a waiting period up to 5 business days.