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Company creates signature technology for mobile ACH payments

Jul 23, 2013 Sean Albert

Company creates signature technology for mobile ACH payments

Consumers and business vendors value cost-effective electronic payment solutions - such as ACH cards - that enable them to quickly complete transactions. Fortunately, a new service from payment company PDC4U has simplified the mobile payment process. The firm's recently developed Signature4U technology is a cloud service that enables wireless sharing of authorized consumer signatures.

The service can be used on a smartphone, tablet or other computing device. PDC4U stated that the process of obtaining the signature is started by the vendor company when it sends a text or email to a consumer. Then, the customer signs a form displayed on a touch screen and sends it back to the vendor so that it can be attached to a purchase document. It takes as little as one minute to complete the task.

One of the advantages of Signature4U is that it is compliant with Regulation E standards outlined in the Electronic Fund Transfers Act. This allows the service to be used in the pre-authorization of ACH card payments.

ACH over credit cards


ACH payments have been increasing in recent years as vendors start to recognize how cost-effective the payment platform can be. According to Bill & Pay, ACH is much cheaper to process than traditional credit card transactions. The source noted that there are a number of fees associated with accepting credit cards that can account for 2 percent to 3 percent of any invoice.

Businesses can encourage customers to use ACH cards to pay for products and services by offering savings if they choose to complete a transaction using the platform. Also, the source stated that companies can prevent future price increases by decreasing credit card transactions, as they won't be forced to consider fees when putting price tags on items.