early 17th century (as a verb in the sense 'press closely, fix firmly'): from Latin impact- 'driven in', from the verb impingere (see impinge)
The phrasal verb impact on, as in when produce is lost, it always impacts on the bottom line, has been in the language since the 1960s. Many people disapprove of it, saying that make an impact on or other equivalent wordings should be used instead. This may be partly because, in general, new formations of verbs from nouns (as in the case of impact, action, and task) are regarded as somehow inferior; in addition, since the verbal use of impact is associated with business and commercial writing, it has the unenviable status of ‘jargon’, which makes it doubly disliked. Compare with enthuse (usage).