Direct Payment is a new payment option offered to Trucking Online carriers. The Direct Payment feature gives carriers another payment alternative to transacting business with a credit card, or charging transactions to a MCTD account.
You may already be familiar with the Direct Payment process under a different name, such as, ACH, ECheck, EPay, iCheck, EDraft, etc. All of these names describe the same process. Businesses and Individuals alike are using electronic Direct Payment services as an alternative to hand writing checks for payments.
Direct Payment is a secure electronic payment delivery system for Business and Individual bank accounts. Once your bank account information is set up, authorized and verified with your bank, the Direct Payment option will appear in your shopping cart. You will be able to debit your approved business or individual bank account for transactions made in the Trucking Online System.
The Direct Payment feature gives you the ability to electronically debit the approved business or personal bank account for the exact amount of the transaction in the Oregon Trucking Online system. The transaction is processed through your bank account just like a paper check, only without the paper. A record for each transaction is provided through a printable confirmation page; you may also view a history of your Direct Payments from the history log accessible through the ACH menu.
The benefits to you:
The Direct Payment network, commonly known as the ACH network, is a highly reliable, efficient and secure nationwide electronic funds transfer and clearing system.
The abbreviation ACH stands for Automated Clearing House and is most commonly used by financial institutions. You will see reference to this abbreviation in our agreement and legal documentation. ACH is synonymous with Direct Payment.
The ACH system has been in place since the 1970's. In the early 60's bankers recognized the need for an alternative to paper checks. In 1974 NACHA (National Automated Clearinghouse Association) formed as the regulatory body for the ACH network. Since 1974, the ACH network has grown to a system processing over 6 billion payments annually. Today, the ACH Network serves 20,000 financial institutions, 3.5 million businesses, and 115 million individuals. Electronic payments of all kinds are used frequently by companies, institutions, government agencies and non-profit organizations as a safe, reliable and convenient way to conduct business.