Choice Partners with Wix for ACH Payments

Rhea-AI Summary

Wix.com Ltd. (NASDAQ: WIX) has partnered with Choice Inc. to enable U.S. merchants to accept ACH electronic funds transfer payments. This integration allows merchants to receive payments directly into their bank accounts, reducing processing times and fees while lowering fraud risks. The partnership enhances customer experience through various payment channels, including online checkout and invoicing. Merchants will benefit from real-time data for better transaction management and reporting, ultimately aiming to increase revenue and profitability.

Positive

• Partnership with Choice Inc. enhances payment processing options for U.S. merchants.
• Integration of ACH payments reduces processing times and fees.
• Real-time data access improves transaction oversight and business operations.

Negative

• None.

Wix U.S. Business Owners Can Integrate Choice’s ACH Payment Acceptance Option and Receive Payments Directly in their Bank Accounts

HARTFORD, Conn.--(BUSINESS WIRE)-- Choice Inc., a leading global payments platform, and Wix.com Ltd. (NASDAQ: WIX), a leading global SaaS platform to create, manage and grow an online presence, today announced a partnership enabling Wix merchants in the United States to accept Automated Clearing House (ACH) electronic funds transfer payments. This account-to-account payment option will give Wix’s U.S.-based merchants access to Choice’s ACH payments infrastructure, eliminating processing time and fees, and generally reducing the chances of fraud for both merchants and their customers.

Offering diverse payment options that are secure, convenient and easy to use is now fundamental to retail success. This partnership will give Wix’s U.S. merchants access to Choice’s omnichannel software solution, including adding ACH payments for e-commerce, and managing recurring payments like subscription services and invoices. Furthermore, merchants will have access to real-time data for simple reporting, reconciliation and customer management, offering actionable insights to help oversee transactions and keep track of business operations.

The frictionless payment process will ultimately help increase revenue and enhance the customer experience by adding additional ways to pay via different channels, including online checkout, payment by SMS texting, invoicing or hosted payment pages—all enabling customers to make quick and secure ACH payments.

“Offering ACH as a payment option enables Wix merchants to convert more shoppers into buyers and expand revenue,” said Choice CEO JohnPaul Golino. “We are eager to elevate the payment acceptance experience for Wix merchants and their customers with Choice’s cutting-edge technology,” added Golino.

"We are always working to offer Wix merchants a variety of convenient and innovative payment solutions specific to the locations they operate in," said Amit Sagiv and Volodymyr Tsukur, co-heads of Wix Payments. "With Choice, we are proud to further our mission of helping businesses grow by providing them with more payment options to streamline financial operations and the checkout experience, which ultimately helps them increase profitability."

About Choice

Choice is a fast-growing payments and technology fintech delivering a robust, omnichannel commerce experience. The company’s proprietary technology platform integrates seamlessly with independent software vendor technology stacks, enabling embedded payment monetization along with fraud management tools, analytics, and comprehensive reporting for ISVs and their merchants. For more information, please visit choice.xyz.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220831005112/en/

Peggy Bekavac Olson

Strategic Marketing for Choice

480.510.8120

choice@smktg.com

Source: Choice Inc.

FAQ

What is the new payment option for Wix merchants in the U.S. introduced by Choice?

Wix merchants can now accept Automated Clearing House (ACH) electronic funds transfer payments.

How does the ACH payment acceptance benefit Wix merchants?

It reduces processing times and fees, and lowers fraud risks.

What additional features does this partnership provide to Wix merchants?

Merchants gain access to real-time data for transaction management and reporting.

What channels can customers use to make ACH payments with Wix?

Customers can use various channels including online checkout, SMS texting, invoicing, and hosted payment pages.