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Online
Electronic Checks
Making
The Future Available Today.
As online
retailing continues its meteoric rise, merchants are searching for more and
better ways to handle their customers' online transactions. Many online businesses
already offer credit card payment options, but are finding that their inability
to accept checks prevents them from maximizing sales.
Online Electronic Checks... The Fast, Secure and User-Friendly Payment
Option.
Millions
of Americans prefer to write checks rather than use a credit card. The
Online Electronic Check allows online merchants to easily accept
and process electronic check payments directly from their website. Customers
who wish to pay by check simply select the online electronic check option and
enter the requested bank account information. The interface is designed to look
like a regular check, so customers will like the easy-to-understand familiarity
of this payment option.
Once the
information has been input by the customer, the data is encrypted and transmitted
to Online Electronic Checks' secure server for posting. Transactions
are automatically settled within 48 hours if processed before 12:00 midnight
PST.
The system
then debits the customer's account electronically and transfers the funds into
the merchant's account. Bank RTN numbers are verified immediately to insure
the financial institution exists. A receipt is generated and a copy is e-mailed
to the check writer.
If the account
number is incorrect or the amount has insufficient funds, the system notifies
you AND collects any NSF items... without any fees!
The majority
of Internet check options merely provide a paper check for your deposit. This
type of system is slow, costly and difficult to manage when compared to a purely
electronic solution.
Expand
Your Online Payment Options Today.
The benefits
to the online merchant are enormous. In addition to expanding your market by
having another payment option, your company can benefit in the following ways:
Save up
to 50% in processing fees compared to credit cards.
Merchants pay a premium for real-time online credit card processing. By promoting
electronic online checks as the first payment option, merchants will experience
reductions in processing fees, which will significantly improve their bottom
line.
Eliminate
fees for returned Internet checks.
The Online Electronic Check is a cost-effective,
fully automated payment solution that eliminates traditional returned item fees
for the merchant. Using a traditional paper check system, the merchant deposits
the paper item into their bank account. Any returned item is sent back to the
merchant's bank, and fees are assessed. With an electronic system, the merchant's
bank is bypassed as the original point of deposit; therefore handles
the returned items on behalf of the merchant, eliminating associated fees.
| Online
shopping is poised to explode... |
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With over 125 million
subscribers on the Internet today, and growing at a rate of seven new
people every second (more than 18 million every month), you cannot afford
to ignore this exploding market. In addition, every fourth person on the
Internet is buying something right now!
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Access online
"real time" reporting on account activity.
Merchants can access reports via the Internet 24 hours a day, 7 days a week. These
reports will facilitate the merchant's bank statement reconciliation.
Improve
Cash Flow.
Funds are settled within 48 hours, compared to the delays due to mail
delivery times and the longer clearing times associated with paper checks.
Eliminates
"the check is in the mail" dilemma.
Online Electronic Checks capture "impulse"
purchases. Consumers can make a check payment immediately, rather than writing
a check and mailing it.
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