PROCESS CHECKS JUST LIKE A CREDIT CARD!
Changing Paper Checks to an Electronic Item Benefits You and Your Customers.
Now you can take advantage of electronic commerce to increase employee productivity and to improve customer service. Electronic Check Conversion (ECC) converts a traditional paper check into an electronic item at point-of-sale and processes it through the Federal Reserve's Automated Clearing House (ACH).
Electronic Check Conversion saves time and money while reducing the risks of NSF checks. A check is now as hassle-free as a credit card transaction. It's more efficient and secure. And it lets you focus more on your business and taking care of your customers.
Ending the Paper Trail with ECC...
During the 1980s, technology revolutionized the payments world. No one uses a manual imprinter to accept credit cards any longer. Instead, merchants handle credit card transactions through EFT (Electronic Funds Transfers) using VeriFone or similar terminals. Paper checks have remained non-automated...until now!
Here's how ECC works: The VeriFone Omni 3200 and the RDM Check Imaging Scanner is the equipment used for Electronic Check Conversion (ECC). First, it dials out to the negative database to verify if the check writer has a bad check writing history, and then converts the check to an ACH transaction. The OMNI 3200 has an integrated thermal printer that prints a receipt containing the ECC authorization language that authorizes the transaction amount plus any return fees to be electronically debited from the customers account if the transaction comes back as non-sufficient funds. The OMNI 3200 can also be used for credit cards and debit cards.
1) The consumer's source document which the Merchant has voided;
2) A copy of the consumer's authorization, and
3) A receipt containing specific information relating to the purchase.
The transaction is electronically transferred through the ACH system where funds are debited directly from the customer's account and deposited automatically into the merchant's account usually within two banking days.
Electronic Check Conversion Works Harder!
Electronic Check Conversion with AutoCollect
When your customer pays by check, which is converted to an electronic item at the point-of-sale, occasionally those items may be returned for various reasons. With Electronic Check Conversion, you have an added advantage: our automated electronic recovery system, AutoCollect.