On Thursday, December 4, 2014 10:25:06 AM UTC-5, Hassan Schroeder wrote: > > On Thu, Dec 4, 2014 at 6:46 AM, Jason Fleetwood-Boldt > <te...@datatravels.com <javascript:>> wrote: > > > here's some background information: > > > > http://www.gymassistant.com/products/gym_assistant/eft_explained.php > > > http://www.cybersource.com/products/payment_processing/direct_debit_bank_transfers/ > > > This seems totally oriented to *on-going* relationships: subscriptions, > utility payments, etc. The initial setup at least seems far too onerous > to use for one-time e-commerce transactions. > > Perhaps it works differently in other countries...
I'm not sure what would be different in other countries. I believe EFT is cheaper to process, so larger businesses prefer it. People that want to write checks instead of use a credit card may prefer it as well. >From having set up the capability through Authorize.net (using ActiveMerchant), I can tell you that at least through Authorize.net it is not a direct, immediate bank transfer. It is an electronic check. Just like with checks, the payment may be "approved", but the check may still not clear. Just like with checks, it takes a couple days for the checks to clear (or not), so you have to have business processes in place to reconcile against Authorize.net and not consider a payment actually paid until Authorize.net has cleared the check and put the money in your merchant account. Jim -- You received this message because you are subscribed to the Google Groups "Ruby on Rails: Talk" group. To unsubscribe from this group and stop receiving emails from it, send an email to rubyonrails-talk+unsubscr...@googlegroups.com. To post to this group, send email to rubyonrails-talk@googlegroups.com. To view this discussion on the web visit https://groups.google.com/d/msgid/rubyonrails-talk/2d7c2edc-520a-42e9-91fb-e78c760428d5%40googlegroups.com. For more options, visit https://groups.google.com/d/optout.