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| Business owners can now convert the paper checks they receive into electronic debits at the point-of-sale. This process can help a merchant eliminate chances of loss, reduce the banking fees paid by the business, streamline operations, and increase a merchant's useable cash flow. For one low fee, you have the most revolutionary and fully developed system for handling checks - verification, electronic deposit, and ACH recovery. Key Benefits - Speed. Funds deposited into your account in 48 hours
- Check Verification at no additional cost
- Electronic checks are paid before paper checks, giving you the advantage if there are limited funds
- Bad checks are detected more quickly reducing multiple losses and expediting the collection process
- Reduced processing fees at the bank, and little or no deposit preparation in the cash office
- NSF converted checks can be immediately electronically re-presented a total of 2 more times
Here's How It Works - The consumer presents a check for payment
- The merchant runs the check through a check imager/reader scanning the entire check
- The information on the bottom of the check (MICR) is read and used to initiate an electronic transaction
- Upon approval, a receipt is printed for the consumer to sign, authorizing the merchant to debit the account via the ACH. The merchant stamps void or processed electronically on the paper check and then gives it back to the consumer with their copy of the authorization receipt
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