Accept Payments

Many merchants that have been concerned about taking checks in the past have now seen the light. eCheck or ACH transactions compared to credit cards can save you big money. Check acceptance is less risky and easier than it used to be thanks to electronic check conversion. ACH transactions are now a cost-effective method of payment and a fast way for your customers to pay safe and securely. eCheck Conversion A check conversion application turns a paper check into an electronic one. The resulting check is sometimes called and echeck or e-check. This is also known as an ACH transaction. The merchant will use a check reader to scan the check at the point of sale. The scanner is can be hooked into a software program that sends the check to the payment processor or the payment gateway. The gateway will return a response that is echoed back to the user via the application. The eCheck will clear depending on the type of agreement with the processor debits are usually faster than a credit

This should have been our first post, but better late than never. Every once in a while we get the question "What is ACH ?". Automated Clearing House ACH stands for the Automated Clearing House Network. The ACH network is a nationwide electronic funds transfer system. The network is overseen by the NACHA operational rules. They provide the interbank clearing for electronic payments for participants. The electronic payments network and the Federal Reserve are in the position of ACH Operators or the central clearing houses which financial institutions to receive or transmit Automated Clearing House transactions. ACH Volumes According to Nacha the number of ACH payments originated by financial institutions increased to 8.05 billion in 2002, up 13.6 percent from 2001. These payments were valued at $21.7 trillion. Including payments originated by the Federal government, there were a total of 8.94 billion ACH payments in 2002 worth more than $24.4 trillion. ACH Types of Pa

If you accept ACH, echecks or just plain old paper checks you probably use either a check verification service or a check guarantee service. These services are designed to reduce your company's exposure to bad checks. Check Guarantee If one of the checks you accept results in an NSF (Non Sufficient Funds) the check guarantee company will reimburse you depending on if the check was accepting according to the guidelines they provide. These guidelines cover whether the writers drivers license is on the back of the check etc. By not following these guidelines the check guarantee company may refuse to pay. Even if they do pay they have the option to debit your account later if they cannot collect from the bad check writer. The fees check guarantee companies charge are pretty steep for the average merchant. Check Verification This method of check protection gives you the option to decline or accept a check during the payment process depending on the information and data provided. Verific