Do you have rent that you collect monthly or weekly? Do you want to do auto draft or credit card recurring? Do you need an online portal for payments?
In each of these situations, BFC can provide a few options for you to collect your payments: 1. payACH for auto draft transactions that you can run locally and deliver to your bank, 2. Virtual Terminal with recurring payments that can collect both credit card and auto-draft payment methods, 3. BFC can add a portal for your invoices to be collected.
payACH is a yearly-subscription application you install on your computer and allows you to enter the renter’s bank details and generate a “batch” of transactions at once and deliver to your bank. The number of files generated is unlimited but depending on your license level (Direct Deposit version is sufficient for most), you can add up to 1,000 bank detail records without any additional cost. See our payACH product information page for more details and call to take advantage of our 60-day free license to try out the program (ie, be able to generate an ACH file to test).
Virtual Terminal for Recurring Payments
With the virtual terminal, you can now accept credit card or bank-draft recurring payments on various payment schedules – monthly, weekly, bi-monthly, quarterly or even yearly. With the virtual terminal, you can also plug in an Ingenico EMV Terminal to accept payments in-person and utilize Contactless Tap for payments. To use credit cards with virtual terminal, a merchant services account will be needed (we can help set that up if you don’t already have a provider). To accept bank draft transactions, the system will generate a daily ACH file that will need to be delivered to the bank or automatically sent to the bank.
BFC also has a simple checkout system that can integrate your site into a payment portal page where the renter can then provide the payment details and you get paid through a credit card transaction.
Have more questions or ready to get started, contact us today at 972-242-8090 x 2 or through our contact form.