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Instabill Offers New ACH Solution for Payday Lenders
Instabill has long served payday lenders in the US and overseas with quality merchant account solutions. Through a new banking partnership, however, Instabill can now accommodate not only state licensed payday lenders, but those who hold a tribal agreement for sovereign Native American nations. “The big difference here is having a solution for tribal payday lenders,” said Sales Manager Wendy Jacques. “We have other ACH options for payday lenders, but we’ve never been able to get tribal loans done until now.”
The One Reason the Tribal Solution So ImportantPayday lenders operating in sovereign nations within the US do not recognize US federal regulations, such as FDIC, since they consider themselves a separate nation. Alas, payday lenders in sovereign nations are virtually immune from reforms such as Operation Choke Point and the watchful eye of the Consumer Finance Protection Bureau.
The Benefits of ACH ProcessingRecently, the National Automated Clearing House Association (NACHA) approved same-day ACH transactions, which will result in ACH users moving money much faster. For e-commerce businesses, ACH processing is a cost-effective solution with many other advantages for payday lenders. ACH processing is a secure, optimal solution for recurring billing and continues to grow in popularity. Nearly every financial institution in the US is connected to ACH network.
Instabill Has Solutions for Payday LendersInstabill offers several solutions for payday lenders, both domestically and overseas. Because it continues to establish partnerships with diverse banks worldwide, Instabill can offer payday lenders a number of banking options to help their businesses grow. Chat with a live merchant account manager by clicking the option below to find out more about merchant accounts from Instabill.
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