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ACH payments with Stripe VS Instant Identification Verification/KYC

Compare ACH payments with Stripe VS Instant Identification Verification/KYC and see what are their differences

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ACH payments with Stripe logo ACH payments with Stripe

Accept bank payments with a few lines of code.

Instant Identification Verification/KYC logo Instant Identification Verification/KYC

WhatsApp: Instantly verify identity & criminal record w/ 1ID
  • ACH payments with Stripe Landing page
    Landing page //
    2023-06-28
  • Instant Identification Verification/KYC Landing page
    Landing page //
    2023-08-19

ACH payments with Stripe features and specs

  • Lower Transaction Fees
    ACH payments typically have lower transaction fees compared to credit card payments, making it a cost-effective solution for businesses with high transaction volumes.
  • Automated and Efficient
    ACH payments streamline the payment process by automating transactions, which can reduce manual processing time and improve efficiency for businesses.
  • Reduced Risk of Chargebacks
    ACH payments are less prone to chargebacks compared to credit card payments, lowering the financial risk for merchants.
  • Recurring Payments
    ACH is well-suited for setting up recurring payments, making it ideal for subscription-based services and billing cycles.
  • Large Transactions
    ACH payments allow for larger transaction limits than typical credit card transactions, benefiting businesses dealing with large invoices.

Possible disadvantages of ACH payments with Stripe

  • Longer Processing Times
    ACH payments can take several business days to process, leading to longer settlement times compared to instant credit card transactions.
  • Bank Account Verification
    ACH payments require bank account verification, which can add complexity and time to the onboarding process for customers.
  • Limited to U.S.
    ACH payments are primarily for U.S. bank accounts, limiting their use for international transactions and businesses.
  • Potential for Returns
    ACH payments, like checks, can be returned due to insufficient funds or invalid account details, requiring follow-up actions.
  • Security Concerns
    While secure, ACH transactions involve sharing sensitive bank account information, which may raise privacy concerns for some customers.

Instant Identification Verification/KYC features and specs

No features have been listed yet.

Category Popularity

0-100% (relative to ACH payments with Stripe and Instant Identification Verification/KYC)

ACH payments with Stripe

Instant Identification Verification/KYC

Online Payments
77 77%
Online Payments
23% 23
APIs
0 0%
APIs
100% 100
Recurring Billing
100 100%
Recurring Billing
0% 0
Identity Provider
0 0%
Identity Provider
100% 100

User comments

Share your experience with using ACH payments with Stripe and Instant Identification Verification/KYC. For example, how are they different and which one is better?
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Social recommendations and mentions

Based on our record, ACH payments with Stripe seems to be more popular. It has been mentiond 2 times since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

ACH payments with Stripe mentions (2)

  • payment system that has 1% fees
    ACH payments on Stripe cost 0.80%, capped at $5, with no monthly fees or verification fees. So, a $100 payment incurs a $0.80 fee; any payments above $625 cost $5. Https://stripe.com/blog/accept-ach-payments. Source: over 2 years ago
  • ACH instead of credit card - lower fees?
    I was curious if anyone has experimented or tried ACH bank transfers as payment for lower fees? I know Stripe https://stripe.com/blog/accept-ach-payments has ACH payments with lower fees, anyone tried it out yet? Source: over 3 years ago

Instant Identification Verification/KYC mentions (0)

We have not tracked any mentions of Instant Identification Verification/KYC yet. Tracking of Instant Identification Verification/KYC recommendations started around Aug 2023.

What are some alternatives?

When comparing ACH payments with Stripe and Instant Identification Verification/KYC, you can also consider the following products

Teller API - A single API to connect your app with any bank's account

Dwolla - Dwolla powers innovations with sophisticated account-to-account payment solutions.

Flutterwave - 1 API for ACH, card and mobile money payments across Africa

Stripe - Online payment processing for internet businesses. Stripe is a suite of payment APIs that powers commerce for online businesses of all sizes. Use Stripe’s payment platform to accept and process payments online for easy-to-use commerce solutions.

TrueLayer - Simple Bank APIs to access real-time financial data

Open Banking API Tracker - Tracking +130 open banking and PSD2 APIs

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