Written by Andy Morrise
Updated on May 24th, 2023
Table of Contents
Integration
LMS and Secure Payments are integrated with ACHQ (formerly known as SpeedChex). They handle ACH transactions, including both payments and funding. To set up an ACHQ processor in LMS, navigate to Settings > Company > Merchant > Secure Payments.
- Select the Bank Account/ACH Processors tab and click ‘Add Processor.’
- Select SpeedChex from the ‘Processor Type’ drop-down. Enter a name for the processor in the 'Processor Name' field.
- You should see the fields available for SpeedChex. To complete the integration, enter your SpeedChex Gateway ID, Merchant ID, SpeedChex Gateway Key, and Merchant Account Email (this will be an email address where messages from SpeedChex should be sent). If you don’t have this information, contact SpeedChex and they will provide it to you.
- Choose ‘Yes’ or ‘No’ from the ‘Email Customer’ drop-down. This specifies whether you want ACHQ to send emails about returned payments to the Merchant Account Email. Choose ‘Yes’ or ‘No’ from the ‘Express Verify’ drop-down to determine if payments should be pre-scrubbed and rejected if they don't meet Express Verify criteria.
- Select your settings, described below.
- Click 'Save' to complete the process. You can now process eCheck Payments through LoanPro.
Settings
There are also several settings options to help you get the most from your ACHQ account. Here are some examples:
| Setting | Description |
| Demo Mode | This lets you toggle your ACHQ account between demo mode and live mode. In demo mode, LoanPro will send data to ACHQ and receive responses, but it will not send actual payment data to the borrowers' banks and no payments will be processed. This lets you test that data is being sent to ACHQ without moving money. |
| Bypass Processing | This setting will have LoanPro bypass communicating with Secure Payments and any associated processors and deem each transaction as if the processor provided a response of 'success'. Any transactions processed with this setting will not be presented in Secure Payments or the Processor. |
| Auto Reversal | Selecting this option will automatically reverse payments in the LoanPro system if they are returned by ACHQ, since it usually takes approximately 3 days for an eCheck payment to go through. If there aren’t sufficient funds to cover the payment or the payment is returned, this setting will let you avoid looking up and manually reversing returned payments in your system. |
| Default | This option will let you set this processor as your default. |
Once you've set up your ACHQ processor, you are ready to begin processing payments.
LoanPro passes the Loan ID and Secure Payments transaction ID to ACHQ. They will be available in the admin side of ACHQ when you search for the transactions.
If you're interested in signing up with ACHQ, you can apply on their website.