|
Processing Options Options
- Point of Purchase Conversion (POP) - In a check present/
consumer present transaction the check is passed through the POS system, settlement occurs electronically.
- Accounts Receivable Conversion (ARC) - In a check present/
consumer absent transaction, customers are provided a notice explaining that checks will be processed electronically.
- Multi-Lane Retail - In a check present/consumer present transaction the checks are accepted at the point-of-sale and converted to electronic transactions in the back office.
Significantly reduce check fraud and collection hassles with one of these service options:
- Conversion with Guarantee - The paper check is converted into an
electronic transaction and the check amount is guaranteed. The guarantor assumes the risk for all qualified transactions processed.
- Conversion with Verification - The paper check is converted into an
electronic transaction and Electronic Check Service (ECS) verifies that the check is “good”. The merchant retains the risk of returned items for all transactions that are processed.
- Conversion with Verification and Collections - This offers all the
advantages of conversion and verification, while eliminating the need for merchants to perform collections. The merchant retains the risk on returned items but ECS automatically handles all monetary returned items.
Benefits
- Faster Access to Funds - Funds are settled with the same speed
and ease as credit card deposits.
- Improved Reporting - Consolidated online access to all electronic
payment activity.
- Minimized Risk - Reduce the risk of returned checks with
authorization and guarantee services.
- Reduced Costs - Eliminate the time, labor and paperwork associated
with paper checks and returned items.
To learn more, contact an Account Executive or call
800-432-9413.
|
