PushPayments, also called consumer-permissioned payments, can completely eliminate payment chargebacks and reduce payment processing fees by 50% compared to credit card payments.
PushPayments work by connecting the person or business paying at checkout to their online banking platform. From there the paying party authorizes a push payment or credit from their bank account to the merchant they are paying.
The merchant is funded in seconds and the payment is final and can not be charged back.
If you have ever been asked to “connect” your bank account when making an ACH Payment or signing up for a recurring ACH payment, your experience is very similar to using PushPayments. There is a final step where you authorize the payment to the merchant. Instead of debiting your bank account like the vast majority of online payments you are pushing or crediting the payment to the merchant.
For more information on how PushPayments can help your business payment needs contact AgilePayments.com/PushPayments