ACHWorks

What ACHWorks does

ACHWorks, legally Applied Payment Systems, LLC, is a US ACH payments technology company founded in 1993 and headquartered (historically) in the greater Sacramento, California area. Since March 2020 the firm has operated fully remote. The core product is the ACHWorks Virtual Terminal, a web-based payment portal that creates, manages, and reports on ACH and credit-card transactions, with spreadsheet and NACHA file imports, automatic notifications, and exports to ASCII, CSV, and QuickBooks IIF. The platform is supported by three integration surfaces: a 5th-generation SOAP API for high-volume batch processing with built-in account tokenization, a REST API optimized for mobile and handheld devices with six methods, and an HTTPS POST Checkout product for direct website integration. Add-on modules include real-time bank account verification, a credit-card virtual terminal, and ACHFileChex for pre-submission ACH file validation. ACHWorks is sponsored and bank-owned through VeriCheck (VCI) and Commercial Bank of California, a $2B community bank.

Revenue is generated via per-transaction ACH fees (approximately $0.26-$1.50 per credit, higher for Same-Day ACH up to $1M per transaction), ISO/ISV residual share, and subscription/virtual terminal access. Pricing is not publicly disclosed; customers are routed to sales. Go-to-market combines direct sales into MCA and commercial funding merchants, a channel partner program paying residuals to ISOs and integrated ISVs, developer-led API adoption with sample code in PHP, Java, C#, VB.Net, Python, JavaScript, and event-led demand generation at conferences such as Funders Forum, deBanked Connect, LendIt, and BrokerFair. Customer segments skew toward small and mid-sized businesses underserved by larger ACH providers, plus a deliberate focus on the merchant cash advance and commercial funding verticals, with secondary exposure to consumer lending platforms (BNPL, rent-to-own) and a network of ISO/ISV resellers.

The business is a private, post-acquisition operating unit; ACHWorks was acquired by VeriCheck in Q1 2022 and operates under bank sponsorship. Ownership history includes a fully remote restructuring in March 2020 and a June 2023 strategic partnership with Onyx IQ and Simply Funding in the MCA vertical. Compliance posture has tracked NACHA rule changes, including Same-Day ACH limit increases to $1M, Micro-Entries rule adoption, and California Commercial Financing Disclosure readiness.

Name

ACHWorks

Legal name

ACHWorks / Applied Payment Systems, LLC

Website

https://ww3.achworks.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

ACHWorks, a VeriCheck (VCI) company sponsored by Commercial Bank of California, provides ACH and credit-card payment processing via a web Virtual Terminal, SOAP and REST APIs, and bank account verification for SMBs, MCA providers, and ISO/ISV resellers across the United States.

Ownership category

akta.pro rank

Product category

Payment Processing Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Services-Prepackaged Software (7372), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Direct Debit / ACH Collections & Recurring Billing (FSAMAGAE)

akta.pro secondary industries

ACH Disbursements & Bulk Payout Processing (FSAMAGAF), Third-Party Sender (TPS) & ACH Aggregation (FSAMAGAD), ACH File Format, Validation & Transformation (CCD/PPD/CTX/IAT) (FSAMAGAK), ACH Payments Security & Fraud Monitoring (FSAMAGAL)

Keywords

• ACH payment processing
• Payment processing APIs
• Virtual terminal software
• Bank account verification
• Merchant cash advance payments

Headquarters

HQ city

Gold River

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. ACH Transaction Processing Fees: ACHWorks charges transaction fees for processing ACH payments through their platform. ACH credits typically cost $0.26 to $1.50 per transaction, with additional fees for ACH debit transactions. Same-day ACH available at approximately $1-$1.50 per payment.
2. ISO/Reseller Residuals: ACHWorks pays residuals to Independent Sales Organizations (ISOs) and channel partners who resell their ACH services. Partners build residual income through revenue share on transactions processed by their referred merchants.
3. API Integration Services: Revenue generated from providing API integration options including SOAP, REST, and HTTPS POST APIs. Developer support and technical assistance for integration implementations.
4. Virtual Terminal Access: Web-based portal access for creating, tracking, and managing ACH and credit card transactions. Provides reporting, exports, and payment management capabilities.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

ACHWorks is a payment processing technology company providing businesses with secure access to the ACH Network since 1993. Its core offering is the ACHWorks Virtual Terminal — a web-based portal for creating and managing ACH payments, credit card transactions, and bank account verification — supported by proprietary SOAP and REST APIs, an embedded Checkout module, and the ACHFileChex file validation tool. The platform serves SMBs, commercial funding/MCA providers, and ISO/ISV resellers across the United States.

Product overview

ACHWorks is a payment processing technology company offering a unified platform for ACH and credit card transactions. The core product is the ACHWorks Virtual Terminal, a secure web portal for creating, managing, and reporting on payments. This is supported by two API products: the 5th generation SOAP API (batch-based, high-volume) and REST API (real-time, mobile-optimized), plus the ACHWorks Checkout module for website embedded payments. Additional products include Check/Bank Account Verification for reducing returns, Credit Card Virtual Terminal for card acceptance, and ACHFileChex for ACH file validation. The platform is powered by VeriCheck (VCI) and bank-sponsored by Commercial Bank of California, providing processing since 1993.

Differentiator

Problem solved

Functional benefit

Brands

• ACHWorks Virtual Terminal: Online payment portal for creating and managing ACH payments, credit cards, and check verification.
• ACHWorks Checkout
• ACHFileChex
• ACH REST API
• ACH SOAP API

Products and services

• ACHWorks Virtual Terminal

Quantifiable outcome

• Cost savings: ACH transactions at $0.26-$1.50 vs 1.3%-3.5% for credit cards. A business processing $10,000 monthly could save approximately $2,400 annually.
• +1 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature7 records

Partnerships

Seven partnerships are on record, tiered strategic, core and minor.

• Onyx IQstrategicTechnology or Integration · 12 June 2023ACHWorks collaborated with Onyx IQ, a funding management solution provider, to empower Simply Funding's MCA services operations. Onyx IQ integrated ACHWorks' secure payment processing into their platform, enabling faster funding operations for their clients.
• Simply FundingcoreChannel Partner/ Reseller/ Distributor · 12 June 2023Simply Funding uses the combined Onyx IQ and ACHWorks platform for their MCA operations. Simply Funding has provided fast working capital since 2015, offering MCA up to $500,000. Their partnership enables efficient payment collection and funding management.
• Third Party Payment Processors Association (TPPPA)minorOthersACHWorks President Ryan McCurry is a founding member of the Third Party Payment Processors Association, an industry organization supporting payment processors and third-party providers.
• MCASuiteminorChannel Partner/ Reseller/ DistributorMCASuite, a software provider for merchant cash advance industry, partners with ACHWorks for integrated payment processing solutions.
• FundingominorChannel Partner/ Reseller/ DistributorFundingo, a funding platform provider, partners with ACHWorks for integrated payment processing capabilities.
• IntroxlminorChannel Partner/ Reseller/ DistributorIntroxl partners with ACHWorks for payment processing integration, serving their customer base.
• Answers EtcminorChannel Partner/ Reseller/ DistributorAnswers Etc partners with ACHWorks, likely serving as a channel partner for payment processing services.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Dwolla: Dwolla provides an ACH payments API for platforms and fintechs, with similar batch processing, tokenization, and developer-focused integration. It is the closest direct competitor to ACHWorks in offering ACH-as-a-service to software platforms.
• Increase: Increase offers a modern REST-first ACH and wire API targeting fintechs and B2B platforms. It competes with ACHWorks for developer mindshare in the embedded ACH API category, particularly with newer technology stacks.
• Modern Treasury: Modern Treasury provides payment operations infrastructure including ACH initiation, reconciliation, and bank integrations. It targets platform businesses with similar developer-focused APIs and competes head-on for embedded ACH workloads.
• Orum: Orum offers an ACH API with intelligent routing and faster payment delivery, targeting fintechs and platforms. It competes with ACHWorks on speed-of-payment and developer experience in the embedded ACH category.
• Sila: Sila provides ACH payment processing APIs and banking-as-a-service for software platforms, including features like tokenization and account verification that overlap directly with ACHWorks' core capabilities.
• North (formerly NorthAB): North provides embedded ACH payment processing and bank account verification for vertical SaaS and SMB platforms, overlapping directly with ACHWorks' virtual terminal and API offerings for niche verticals.

Broad incumbents

• Plaid: Plaid provides account linking, bank account verification, and increasingly payment initiation via Auth and Transfer products. It is a much broader platform incumbent that overlaps with ACHWorks' verification and ACH origination use cases.
• Finix: Finix offers payment processing infrastructure for software platforms, including ACH and card acceptance with embedded onboarding. As a payments infrastructure incumbent, it competes with ACHWorks for platform-led payment volume.
• Stripe Treasury: Stripe's broader payments stack (including ACH, Treasury, and financial accounts) targets platforms and marketplaces. As a broad incumbent, Stripe is the strategic backdrop against which niche ACH providers like ACHWorks compete for embedded payment volume.
• MX Technologies: MX provides financial data aggregation, account verification, and increasingly payment connectivity for fintechs and banks. Its verification and connectivity capabilities are comparable to ACHWorks' account verification feature, with a broader data platform wrapper.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ACHUpdates
• Facebookfacebook.com/Achworks-163979090297450
• LinkedInlinkedin.com/company/6643517

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ACHWorks