Announcing New ACH Payments!
The Wait is Officially Over!
Greetings Jackpocket Community, the team is thrilled to announce that we are officially offering new ways to purchase lottery tickets in the app! After months of challenging work and late nights in the office, we’re pleased to introduce new in-app payment methods that will allow our users to resume playing their favorite lotto games, easier than ever! There are many benefits to the new payment systems we are now offering. Let’s take a look at the latest ways you can now make ticket purchases and play the lottery with Jackpocket:
Start buying tickets on your phone!
We’re excited to announce that Jackpocket is now offering ACH (Automatic Clearing House) payment services as a way to purchase tickets! ACH will enable our users to buy Jackpocket credits natively from their mobile devices using their checking or savings account.
There are many benefits to using ACH!
ACH processing services are responsible for 20% of all national electronic transactions annually, roughly $39 Trillion dollars a year! There are many reasons why we are excited to offer our users ACH:
- Security: One major benefit of accepting ACH payments is the security it provides our users. ACH is a federally regulated network, and, therefore, its security is enforced by the NACHA (National Automated Clearing House Association). In fact, ACH is so secure that its largest national operators are U.S. Federal Reserve Banks.
- Privacy: Unlike credit card networks, ACH transactions do not disclose your personal financial information to third party processors.
- Pricing: ACH processing is typically more cost-efficient than credit card networks because they batch their transactions to reduce cost. This is especially true if you are making recurring payments (see subscriptions feature) and/or funding in larger amounts.
- Convenience: Overall, this will expand the current network of banks we are accepting payments from. Buying lottery tickets are significantly more convenient through the many popular options we now offer, such as Chase, Citi Bank, and Wells Fargo. Check out the full list of banks now available for ACH on Jackpocket:
Connecting your bank account is easy!
To purchase tickets using ACH, we have provided a ‘Fund Account’ button on the left menu tab of the Jackpocket app homepage. From there, you will be able to fund your Jackpocket account directly from your mobile device, by selecting your preferred checkings/savings bank. These funds will then be transferred and appear in a matter of days in your Jackpocket account as playable credits. Here’s a glimpse of the funding page:
Funding your account is simple, to begin, click “Fund Account” in the left menu tab of your Jackpocket app. Next select the “Fund with Bank Account” button which will take you to a page where you can add the desired bank account you wish to link with your Jackpocket account. Here you must select the bank you wish to start funding your account from and upload an image of your photo ID and select “Submit ID”. Finally, once your ID has been uploaded, you will be asked to input your banking username and password. Congrats! Your bank account is now successfully linked to your Jackpocket account, and you’re all set to start buying tickets right from your phone!
You’re almost ready to start playing!
To complete linking your bank account for ACH, Jackpocket requires your account information and then connects your bank to your personal Jackpocket account! Select an amount you wish to transfer to your account and your funds automatically transfer in 2–3 business days as credits in your Jackpocket account.
How long will my funds take to transfer?
ACH transactions take 2–3 business days for funds to become available in your account, depending on the time you place your funding order.
Here’s a timeframe for when your funds will transfer via ACH on a weekday:
Depicted in the image above, ACH payments typically take 2–3 business days to process depending on the time you place your order. For example, if you wish to have credits to play Tuesday night's MegaMillions drawing, you would need to place your order before 3:00 pm on Monday and you will receive your credits on Tuesday around 4 pm! If you place your ticket order after 3:00 pm, processing won’t begin until the following day, and you will receive your funds as credits on Wednesday around 4pm.
*Note the time difference when processing cards over the weekend:
To fund your account over the weekend and have credits available by Monday, you need to place your payment order before 3:00 pm ET on Friday. Your credits will then become readily available around 4 pm on Monday! If you place a ticket order after 3:00 pm ET on Friday, they won’t become available until Tuesday at 4:00 pm ET. We recommend funding your account a couple days prior to the day you intend to purchase lottery tickets.
We’re very excited to introduce ACH payments, and believe that it will provide further convenience for our users in the app. By accepting a larger variety of banks, users will have further accommodation in the payment process, thus making in-app ticket purchases more efficient.
Download the latest 1.4.3. update!
All these new payment methods are now available in the most recent Jackpocket app update: 1.4.3. If you are on an old version, you can download the update from the iTunes store HERE and/or at https://jackpocket.com.
Shoutout to all our fans and users!
The team couldn’t be happier to offer this new payment option to our users, opening a new company chapter to experience further growth in 2016. We’d like to take this opportunity to thank all of our loyal users for their support over the past year, we appreciate everything you’ve done for us and we wouldn’t be here without you! Big things coming this year!
