Setting up an ACH requires a savings or checking account, routing number, and bank account number. An ACH direct deposit can not happen until this data is shared with the payer. The account information of the payee is always required to set up a direct deposit. Otherwise, how will a business know where to pay you?
The digital payments process needs to be secured with technical safeguards as much as possible. For example, businesses that rely on digital payment processing should only use secure networks to send and receive funds. They should also track both incoming and outgoing transactions to verify all payments.
Get a better understanding of how all three payment solutions operate and you’ll be better equipped to make the right choice. Understand there are options beyond Stripe, PayPal, and Square but we reviewed these for a reason. They all serve very different functions but are top of the market. Selecting the right software will see you to success!