Boost Your Business By Accepting Online Payments via ECheck
Three ways of taking money from your account and giving to someone
There are three ways that checks do their job of taking money from your account and giving to someone(Online Payment via ECheck). The traditional way started with a piece of paper that you gave to a vendor.
- Who sent it to their bank
- Who sent it to your bank
- Your bank sent the money to their bank
It was slow and expensive for merchants to use.
Electronic Check Readers
Along came electronic check readers – scanners which read the code from your paper check and sent it to your bank, then your money was credited to the vendor immediately. This was faster, less expensive, and offered greater security, with a big improvement over cumbersome paper checks.
Time passed and technology evolved, and now verification processors offer software that takes the key information electronically to your bank, gets the money and puts it in the vendor’s bank. It was with this process that the true electronic check (called eCheck) was created. For credit card leery consumers, electronic checks offer a fast and safe method for online payments.
- No third-party integration needed
- Combined Reporting with all your other payments
- Eliminate the costs and inconvenience of paper checks
- Lower Fees – typically lower than credit cards and Paypal
- Reliable, Secure, PCI-compliant
- 24/7 Online Reporting