Exchange & Settlement of Electronic Payments Between Financial Institutions
Enables merchants to accept consumer initiated debit payments for Bill Pay or E-Commerce through an online website.
POS Conversion
Learn moreProcess checks
just like a credit card at the point of sale. Protection from bad checks with Guaranteed Funding. Check funds are electronically wired into the merchants bank account.
Paper Guarantee
Learn moreCheck Guarantee
A check protection service by which a merchant guarantees he or she will receive payment for a check, even in the event of insufficient funds. Check guarantee requires a check reader peripheral.
Check 21
21st Century RegulationAutomated and Easy Monthly Billing
The Check Truncation Act of the 21st Century, a Federal Reserve Bank law that allows merchants to submit customers’ check, or bank account, information for payment electronically instead of processing paper checks.
ACH Debit
Learn moreAllows merchants
to key enter customers checking info through a virtual terminal and process ACH Debit.
Tele-debit
Learn moreCheck by Phone
Debits by Phone allows merchants to debit consumers checking account, any time, from anywhere, just using any touch-touch phone. This is great for mobile merchants and after-hours banking.
Checks by Web
Learn moreELECTRONIC CHECK SETTLEMENT
Checks by WEB allows the exchange and settlement of electronic payments between financial institutions. It easily enables merchants to accept consumer initiated debit payments for Bill Pay or E-Commerce through a website.
Check Processing: How Does it all Work?
- The consumer or business provides written authorization through mail order, fax, or face-to-face for an electronic ACH debit to their checking account
- Transaction information is uploaded to the processor through a variety of options including virtual terminal, payment getway, or batch file transmission
- The funds are electronically debiting from the client’s checking account
- Once the transaction is cleared, the funds are electronically deposited in the merchant’s account in 7 business days (contact us for expedited funding)
POS Conversions Explained
- Paper checks are accepted during face-to-face transactions at the point-of-sale
- Checks are run through a check imager or reader connected to a credit card terminal
- The funds are electronically debited from the consumer’s checking account
- Funds are then electronically deposited into the merchant’s bank account in 3 business days
What is a Paper Check Guarantee?
- Paper checks are accepted in person at the point of sale
- Check information is entered into terminal to obtain approval
- Terminal runs verification and authorization process
- Authorization code is written on check and manually deposited at bank
If authorized check is returned unpaid, funding is guaranteed through processor
*Note: Types of checks eligible for Check Guarantee include personal, business or corporate, and doing business as (DBA)
What is Check 21+?
- Paper checks are received in the mail, drop box or in person (any type of check may be accepted at both point of sale and consumer-not-present environments*)
- Checks are run through a check imager connected to a PC (check imager will have capability of scanning both sides of the check)
- Funds are electronically debited from consumer’s checking account
- Funds are then electronically deposited into the merchant’s account in 3 days (8 business days for payroll checks). Merchants can use existing account – no need for a separate account
Single-step check reading and image compression
