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11-02-2021, 03:45 PM #1
- Join Date
- Dec 2017
- Posts
- 3
Are ACH split and how great it would be for the restaurant industry specifically
Are ACH split and how great it would be for the restaurant industry specifically. As you know most of the restaurant deals we see are looking for a credit card split or already have one, the ACH split gives them the same comfort of protecting their cash flow without changing processors or waiting on a lockbox to be set up.
ACH Split - Protects the merchants cash flow with fluctuating debits based on the merchant's deposits and performance. To do this, there will be routine reconciliations as frequently as daily, weekly, or monthly at the merchant's direction. For example, the holdback percentage in an offer is 14%, so we will be debiting 14% of the merchant's revenue during the specified reconciliation period chosen by the merchant.
Steve Kamhi
Director ISO Relations, FundKite
“The value of an idea lies in the using of it.” — Thomas Edison, co-founder of General Electric
Direct:929-999-6100 | | Email:steve.k@fundkite.com
Web: fundkite.com
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11-02-2021, 04:28 PM #2
- Join Date
- Apr 2019
- Posts
- 319
this is not new lol....many did this in 2014 maybe even earlier....good luck
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11-03-2021, 10:08 AM #3Egor Gagarin
ISO Relations Rep, FundKite
Direct: 929-443-3300 | Email: egor.g@fundkite.com
Web: fundkite.com
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