Check processing has always been a hassle for business
owners and customers alike for several important reasons.
Whether you are a traditional brick-and-mortar business
or an Internet start-up, it is unlikely that you are able
to do business without accepting credit and debit cards
from customers as a means of payment. Electronic check
processing virtually eliminates check handling by converting
paper checks into an electronic transaction, right at
the point of sale! A new form of accepting
checks through a process called check conversion method.
You simply enter your customers' checking information
into the gateway based on a check that has been faxed
or mailed to you.
Electronic Check Processing Increases Sales
Electronic check processing has been a boon to customers
who may not have credit cards, and therefore, it has
rewarded merchants with increased sales. Any brick-and-mortar
merchants can transform their customers' paper checks
into electronic transactions
that are processed through the Automated Clearing
House (ACH) network.
Benefits and Process of Electronic Check Conversion
Safety: Eliminates the threat of lost or stolen checks during deposit
preparation and minimize check losses with "repeat offender" check.
Speed: Check is converted into an electronic transaction in 8 to 10
seconds
Simple Process: Simply scan the check using a check reader connected
to your credit card terminal capturing the data from the MICR line at the
bottom of the check and the paper check is converted to an electronic item!
Ship Product Sooner: Improved up-front transaction validation that
returns the status of transactions faster.
Security: Uses the latest 128-bit Secure Socket Layer (SSL) technology
for secure Internet Protocol (IP) transactions.
The funds are automatically deducted from your customer’s checking account and
deposited into your business account. The benefits are lower costs, greater
efficiency, and eliminate the need for physical bank deposits of checks!
With billions of payments handled by the (ACH),
a Merchant should not overlook this check processing solution.
By accepting Credit Card Merchant Checks, you
expand the payment options available to new and existing
customers, enhancing customer loyalty and potentially
increasing sales.
