Improve your customer service while saving time and money with electronic check conversion. You can make the labor intensive processing of paper checks a thing of the past with our check service solution, accepting check can be as easy as accepting credit cards.
This innovative check functionality comes as an additional service to our industry leading credit card program.
This application operates on our check imager that we supply with our Hypercom T4100 terminal and all free upon starting our services. Now you can convert paper checks to electronic ACH transactions quickly and easily at the point of sale.

The electronic check conversion software application builds on our standard check guarantee service to include the added benefits of remarkable reductions in merchant funding (two business days), bank processing fees, and check fraud.

 

How does it work?

At the point of sale the check imager converts the paper check to electronic format.
The rest of the process- the authorization and settlement is similar to a credit card process.
Stages of process:

 

1. The check reader reads the check’s MICR line and converts it into an electronic image. The image is then stored in the imager for deposit at time of settlement.

 

2. The check is electronically submitted through the Automated Clearing House (ACH) after the paper check is voided, returned to the customer who signs a receipt permitting the merchant to perform the transaction.

 

3. Via ACH, the imager/reader submits the MICR data to the bank upon authorization.

 

4. The terminal transmits a summary report for the merchant.

 

5. Within two business days the merchant account is credited electronically.

 

 

Benefits

● Increases cash flow with two-day merchant funding as opposed to five-to-seven days for paper-based check processing.
● Saves money by eliminating returned items and associated NSF fees.
● Ensures daily funding for retail merchants with auto-settle feature.

 

 

The Echeck advantage

• For maximum protection, our system utilizes multiple national check information data-base updated daily.

• Provides auto-settlement option for retail merchants and ensures daily funding in that program.
• No more danger of returned checks and back fees associated.

• Check acceptance time reduced to your customer’s satisfaction.

• Merchant account funded within two business days, which help increasing your immediate cash flow.

• Authorize checks in less than 10 seconds.

• Minimizes financial loss due to check fraud.