If you have been running a business for a while, the chances are high that a customer has requested to make payment using an eCheck. However confusing merchants find this method, they often choose to let their payment processors handle the technicalities. And when disputes later arise, the trader is left with little to do,
The modern business must provide a variety of payment processing options for their clients. One new and popular payment processing option is electronic check payment processing. e-Checks are a hassle free option that simplify check cashing and speed up the payment process, ensuring that your business gets paid quicker. Before signing with a payment processor,
Electronic check processing allows your business to convert paper checks received from customers into an electronic transfer (e-check). The funds are then taken from that customer’s account and moved into your business’ account. This transfer, which takes place via the Federal Reserve Bank’s Automated Clearing House (ACH) system, offers merchants a faster, hassle-free and less-expensive
Modern technology enables people to enjoy fast and easy payment transactions all around the globe. Huge advances in the world of payment technology have turned paper checks into electronic transfers (debit), which are also known as electronic checks or eChecks. Electronic check processing is an essential part of any modern business. Modern eCheck Payment Processing.
Credit card fraud may be a thing of the past thanks to Photo Safe Check Deposit. The Photo Safe Check technology incorporates security features that can only be read with mobile deposit software from Mitek Systems Inc. Mitek, a San Diego based company, holds a variety of patents for mobile imaging technologies. Mitek’s mobile imaging
If you are starting a new business, having diverse payment processing options is crucial to recruiting and maintaining clients. One vital payment processing option that you must provide is electronic check payment processing. This new technology is hassle free, simplifies check cashing and ensures that your business gets paid quicker. Before signing with a payment
While the majority of us use debit or credit cards for purchases, some still use paper checks. The percentage of use rises in terms of bill payments. While there is nothing wrong with accepting a paper check as payment, the processing is a lengthy process, and at times a costly one. Electronic check processing is
There are many ways to process payments. From mobile apps to traditional merchant account terminals, there are multiple ways for your customers to pay. However, while many think of the physical terminals or scanner when thinking of “payment processing”, there are two terms that you must know for your business: e-check and ACH processing. They
Don’t believe the hype. Millennials still prefer to use cash and checks over online or mobile payment methods. Despite the buzz about Millennials abandoning traditional forms of payment, a new report by Aite Group shows 58% of Millennials (ages 26 to 34) and 53% of Millennials (18-25) wrote checks last year to pay another person.
September 11, 2001 was the beginning of the slow death of the paper check. Before that day, money was moved across the U.S. very differently than it is now. Banks moved paper checks by truck to central processing centers. They were then sorted and bundled onto airplanes for further transportation. On any given day, there