By sean

Tech Crunch yesterday wrote about a payments startup called Noca. Noca allows customers to pay for purchases using an electronic check.  After a text-message verification, Noca uses the ACH system to collect money from the customer’s checking account and deliver it to the merchant. Noca charges 0.25% for this service, or around 1/10 the amount for a credit card transaction.

There are a handful of other ACH-based payments startups and Amazon, Google and Paypal payments all offer ACH as an option.  This is a welcome addition to the payments arena, but not one that is without it’s problems.  Here are my initial thoughts.

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