In our long history of processing credit card transactions for e-commerce businesses worldwide, we feel the check processing solutions we offer are a little known gem. We’re working hard so that they become well known – we believe every business can benefit from check solutions.
In recent weeks, we’ve quietly, successfully tested a new check processing solution from a North American banking partner which enables merchants to accept virtual and e-checks by phone, online or even by facsimile. It’s receiving high marks from our network of high risk merchants. It is a user-friendly and cost-effective alternative for high risk merchants who wish offer payment solutions other than credit card processing.
How our new check processing solution works
We’ll never see e-check payments replace credit card payments in the current climate (despite all the credit card fraud and ID theft that seems to be rampant). Out new check solution, however, is about the most efficient form we’ve seen when it comes to check payments.
Here’s how it works:
- The customer enters check details into a secure, user-friendly platform.
- Our solution verifies those check details in real time.
- The customer is able to create and pay by e-check on the merchant website or via a mobile app.
- The customer’s banking information is verified in real time with two-layer verification technology.
- Checks are printable at home or office, then easily deposited by remote deposit scanner (on a desktop or mobile phone), or simply by visiting your bank.
Merchants who can benefit from our new check solution
We’ve long advocated check processing solutions for any business, particularly those categorized high risk. We’ve seen acquiring banks abruptly halt payment processing for certain industries. Having a sound check solution in place can bridge the gap from one banking solution to the next.
Our new check solution is also ideal for those high risk merchants who experience trouble in finding affordable, practical merchant account services. Our new check solution welcomes high risk industries such as loan services, forex, travel, subscriptions and recurring billing and more.
Benefits of our new e-check processing solution
Not only does our new solution allow merchants to collect payments online, by telephone and fax, there is also no commitment – it is a month-to-month subscription with packages based on number of checks cashed each month. Additionally, the application is easy, the approval process fast and there are no holds or reserves.
Other key benefits include:
- Faster process: avoids collecting paper checks in the mail
- Reduces overdue payment invoices
- Available for U.S. and Canadian businesses
Why every merchant should be utilizing check solutions
Remember the old days of check processing, when a consumer or business person would write a check, mail it (which took three days), and wait an additional three days when it was cleared by a bank?
Check solutions are a shadow of themselves nowadays. Over the last three years, NACHA, the governing body of the Automated Clearinghouse (ACH), instituted same-day ACH and check dispensation, so that checks submitted to a bank by noon, would be cleared by 5:00 p.m. the very same day.
Kudos to NACHA, because that kind of forward thinking has kept checks relevant in the immediacy of the payments ecosystem.
Talk one-on-one with us about our check processing solutions
Our merchant account managers want to find out more about your business, and prefer to do it live by telephone. Instabill payments pros will walk you through the boarding process from start to finish – and remain on hand as consultant for the life of your check processing relationship with us.
A payments specialist is on hand today at 1-800-530-2444.
