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Check Processing Options for Merchants, Part 1

Since billions of personal and business checks are still written around the world

each year, it has been incumbent on the electronic payment processing industry to

develop more efficient and accurate methods for accepting and clearing paper

checks as quickly as possible.


Over the past decade, several electronic check-processing programs have filled the

gap in the industry, helping to simplify paper check processing.


Point of Sale Conversion – allows a retail product or service storefront merchant to accept and process checks electronically, just as they would a credit card, at the point of sale. Check readers and imaging devices attach to virtually any credit card terminal on the market.


Process

1. Paper check written by customer, handed to clerk at POS

2. Check scanned through check reader

3. Funds debited immediately from customer’s checking account

4. Funds deposited electronically into merchant account in two or three days


Merchant benefits

o No time-consuming trip to the bank

o Lowers banking and paper check handling fees

o Combine deposits from several locations into one

o Control bad check passing


Check21 Remote Deposit Capture – simplifies the electronic deposit of all paper checks with an easy-to-use web interface. This program is effective for mailed bill payments, mail orders, B2B checks, medical payments, utilities, education, insurance, rent checks, charitable donations, accepting government checks.


Process

1. Paper check arrive by mail, in a drop box or in person

2. Check scanned through check reader

3. Funds debited immediately from customer’s checking account

4. Funds deposited electronically into merchant account in two or three days


Merchant benefits

o No time-consuming trip to the bank

o Lowers banking and paper check handling fees

o Combine deposits from several locations into one

o Control bad check passing

o Automatic notification and redeposit of NSF checks

o Accepts all types of checks (includes personal, money orders, cashier’s

checks, corporate checks and more)


For more check processing information, please visit SalesSensePayments.com,

email Mike@SalesSensePayments.com or call Mike Krause at 585-704-6453.

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