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Welcome to the Next Generation of Check Acceptance!
We Can Help You Put An End To Bad Check Problems!
(1) Electronic Check Conversion
Q – What is ECC?
Conversion of paper checks into an Electronic Transaction. This service (ECC) essentially turns a traditional paper check transaction into an electronic transaction just like a debit card.
Q - How does electronic check conversion work?
When your customers give you a check, the check is processed through an electronic system that captures their bank account information and the amount of the check. Once the check is processed, your customer signs a receipt and you each get a copy for your records. Then you present the processed check information to us electronically, and the funds are transferred into your checking account electronically.
Q – How popular is this kind of check acceptance?
NACHA — the Electronic Payments Association — estimates that more than 738 million paper checks were converted through in-store and mail-in transactions through the first nine months of 2004.
Q – How does this benefit me (the merchant)?
100 % Guarantee on all approved and processed checks. You are notified immediately of declines and will be able to secure another form of payment!
- No more runs to the Bank. All cards and checks are electronically deposited.
- No more Losses on checks or bank fees!
- Minimizes Reconciliation Efforts!
- Speed and convenience of faster checkout.
- Better records. Instead of just a check number and date, your store name and location appear on your customers’ bank statements.
- You and your accounting staff can track check payments with round-the-clock Internet-based reporting.
Q – How much does this service cost?
The rates for ECC with Guarantee are very similar to the cost associated with accepting credit and debit cards. Call today for a free quote! Equipment can be purchased, leased, or placed free to qualifying retail locations.
(2) Traditional “paper” check guarantee!
Q – How does this work and what’s the difference?
This service offers traditional check guarantee, whereby you run the check through the reader, receive an approval code, and then deposit the check like normal. If the check bounces you would submit to us for 100% face-value reimbursement. The reimbursement does not include the fees charged by the bank for the returned check. All cost are the same as ECC.
Why Do You Need Check Guarantee?
In 2000, consumers wrote nearly 19 billion checks at the point of sale. Checks represented approximately 51% of all transactions. What this means to merchants is that checks are a labor intensive and expensive proposition. In 2000, merchant check handling costs and losses totaled more than $23.2 billion dollars. And whether you are a high volume retailer or a small shop, your business shared in this expense. electronic
Hundreds of thousands of merchants are plagued each day by bounced checks, unrecoverable merchandise and bank NSF fees. Our products include basic Check Guarantee, Check Verification and Electronic Check Conversion which enables merchants to accept checks just like a credit card.
In addition to the check value itself being guaranteed against insufficient funds, the actual transaction itself is electronically processed and deposited into the merchants bank account of choice.
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