The Process
Electronic Check Conversion changes a paper-based check to an electronic
transaction at the point-of-sale. The check information is then
transmitted via electronic equipment to a national verification
database where it is evaluated against negative information. Within
seconds a response is sent back to the merchant. A receipt very
similar to a credit card transaction is generated and the customer
signs it, thereby authorizing the electronic collection of funds
to the merchant. The check information is then stored and the transaction
deposits are routed to the merchant’s account within 48 to
72 hours.
Merchant Benefits
Convenience is important to everyone, not to mention our merchants.
Electronic Check Conversion gives the merchant just that - only it’s
convenience with a guarantee. This check conversion process not only
processes the check electronically allowing the merchant to forego
trips to the bank, but it also guarantees the approved transactions.
With this program the merchant simply accepts the checks and the check
conversion program does the rest! The merchant can now accept and process
checks just like they accept and process credit cards.
Additional Options
This program includes on-line transaction viewing and customized detailed
reporting. With the reporting feature the merchant is able to track all of
their transactions through a secured on-line system that is available 24/7.
The reporting capabilities of this system also allow the merchant
customizable reporting features, thus enabling detailed information in the
format the merchant prefers. This program takes all of the guesswork out
of accepting checks and manages the process for the merchant.
|
