Enables technology into same-day and real-time ACH processing
NEW YORK, June 21, 2021 (Newswire.com) - E-Complish, a provider of custom payment processing solutions, has assumed managing control of Regal Technologies, a provider of ACH and other payment processing services, founded in 2002. The change follows the recent purchase of all outstanding interest in Regal Technologies, LLC (of Annapolis, MD), previously operated as a sister company of E-Complish. The acquisition paves the way for E-Complish to enhance its existing Nacha-compliant front- and back-end ACH processing, add 'Same-Day ACH' and be at the forefront of 'Real-Time ACH.'
"ACH processing is going to give credit card processing a run for its money in the future. With the full acquisition of Regal Technologies, E-Complish is poised to expand its existing ACH operations into 'Same-Day ACH' and, coming 2023, 'Real-Time ACH.' Not only can we offer 'Same-Day ACH' to our customers now but we will also be ready and able when 'Real-Time ACH' is available," said Stephen Price, CEO/CSO.
"The Federal Reserve announced Aug. 5, 2019, that FedNow, to be launched in 2023, will offer Real-Time ACH transactions. The FedNow service will be offered through 11,000 U.S.-based banks and financial institutions," Price said. "At E-Complish, it is our mission to serve our customers' payment processing needs in the most comprehensive manner possible. Being ready and adding 'Real-Time ACH' in the future processing is another initiative to fulfill that mission."
E-Complish's acquisition of Regal Technologies complements a partnership formed earlier this year with Plaid, a data network whose technology facilitates web-based ACH Verification. The technology enables E-Complish customers to verify that consumers' bank accounts are active and have an acceptable balance in real-time. It also allows E-Complish customers to access their account information in a seamless, secure fashion—entirely in compliance with Nacha guidelines.
"As has been the case through our partnership with Plaid, we are very excited to move forward with our current and future clients to bring Regal Technologies' capabilities to the table," Price noted. "We will continue to look for opportunities to ensure optimal payment processing flexibility and complete payment processing solutions for every market."
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