Midax Automated Clearing House
Midax automated clearing house (ACH) provides an alternative payment methodology for Merchants and Consumers that bypasses the high transaction fees associated with credit and debit card transactions. ACH has recently come in to the mainstream as a viable method of payment as a result of consumer adoption of electronic bill pay.
Midax is a pioneer in EFT processing with activity that dates back more than a decade. Several years ago, Midax became an ACH processor and acquirer. We have since built into the Midax closed loop payment solution, Safetrak, multiple uses for ACH to minimize retailer admin, encourage the use of this much cheaper payment solution and bring a better value proposition to the consumer at the point of sale. The primary benefit of achieving certified status is that there is no middle man, allowing Midax to offer the lowest ACH transaction fees available anywhere.
Highlights of Midax ACH include:
- Reduced transaction fees for purchases
- Multiple ACH programs offered
- ACH auto recharge for pre-paid (gift) cards. When the card drops to a certain dollar value, it is recharged that night by its top-up value. VIP customers can also have their card balance go negative as their account will be replenished on the next ACH run
- ACH auto-debit for in house charge card. At the end of a period, a statement is generated automatically by email giving a period of time for dispute resolution. Item level purchase history is available for retailers also using Midax’s Shopping Buddy loyalty system. ACH debit to the customer’s account completes the transaction without further intervention.
- ACH auto-debit for in-house fleet card. At the end of a period, a statement and a deck of fleet reports is generated automatically by email giving a period of time for dispute resolution. ACH debit to the customer’s account completes the transaction without further intervention.
- Available as a method of payment at POS
Midax ACH specifications and protocols are available to qualified technology vendors or multi-unit retail and restaurant operators upon request,