Safe and simple for consumers and businesses, SecureNet Electronic Check Services moves payments
electronically from your customer’s checking account to your SecureNet Merchant Account.
This can be done by both Internet merchants (consumer
initiated) and MO/TO merchants (merchant initiated).
This differs from POS check conversion and check lockbox services.
SecureNet Electronic Check Services is a true Automated Clearing House (ACH) product that requires
no double entry or back-end check printing. It works like a paper check, without
the additional costs and time delays. SecureNet Electronic Check Services processes payments
and displays real-time reports from any Internet enabled PC – providing convenient
access away from the office.
Why Use SecureNet Electronic Check Services?
- Consumers without credit cards can use virtual checks to purchase goods
and services via the Internet or MO/TO.
- Checks are the most popular form of payment for both b2b and b2c.
- They are a secure payment alternative to credit cards.
- Virtual Check, in conjunction with the SecureNet Gateway, can be integrated
into your accounts receivable system to simplify your reconciliation process.
- The reject period is shorter for checks than credit cards.
- Recurring virtual check payments lower collection costs for businesses.
System Features and Benefits
- More methods to accept payments - phone, mail, Internet, fax or walk-in
- Process checks faster while lowering processing cost
- Reduce or eliminate invoicing costs
- Easy to set up and use - works with your existing bank account
- Real-time payment processing from any Internet enabled PC
- Funds available in as little as 72 hours and no more trips to the bank
- Reduces Internet fraud through real-time customer identification by Equifax
- Customers do not need to “register” to use this payment option
- Location independent - process payments and access reports anytime, anywhere
Consumer Initiated Method (used by Internet merchants)
- Consumer enters data via website
- Transaction confirmation emailed
- Federal Reserve directs the debit and credit process
- Money moves from consumer account to merchant account
