WAYS TO INCREASE YOUR PROFITS USING
HIGH RISK ECHECK PROCESSING
If you are the owner of a
business that accepts only credit cards
or cash payments then you are missing a
very significant business trend, which
is accepting check payments. According
to a latest survey, a large percentage
of adults in America don’t want to have
a credit card. They prefer to pay by
checks and therefore have checking
accounts. If your business can cater to
such groups then you will be way ahead
of your competitor. However, you may
think that payments by checks are slow
and poses more risk which is wrong. The
technology of today has advanced so much
that even check payments are made
conveniently and very quickly. The paper
checks that used to take about 4 days to
get cleared can now be converted in to
electronic checks and be cleared within
a day. This can be done by utilizing
some simple scanning and imaging
software. Once the electronic image is
obtained it can be transferred over the
net.
Today, e – check is
globally accepted. It works similar to
paper checks. To clear the cheques
quickly, merchants use echecks. This
will benefit the online businesses
greatly. For example, suppose an
international customer has made a
purchase on your website and he wants to
pay by cheque because he does not have a
credit card. All he has to do is fill a
form that is asking for the cheque
details. Upon getting the details, the
merchant transfers this eCheck to the
processing company and get his funds
within a day or two.
The benefits of accepting
echecks are:
1)
Your business will get additional
customers
Those consumers who do not possess
credit cards will also do business with
you if you accept echecks. Also, those
customers who have issues with their
credit can also make purchases from your
site. This results in an increase in
your customer base thereby increasing
your revenues and profits.
2)
Lower processing rates
Companies that process echecks, charge
about 50% lower than credit card
processing firms. This saves a lot of
money for you.
3)
Risk Free
If you have subscribed for the “ATM
Verify” technology then your eCheck
transactions will be 100% risk free.
4)
Account Flexibility
With e-Check processing, you can choose
a bank from a wider range because almost
all banks provide this facility.
5)
No more Chargeback’s
Echecks don’t have the risk of
chargeback’s. This is one of the reasons
why the charges for processing of
echecks are very less.
6)
Similar platform as that of Credit Card
Processing
If you have a merchant account to
process your credit cards, then you can
for eCheck processing with the same
company.
7)
Unparallel Security
The companies which process echecks use
the most advanced security systems which
are the 128 – SSL bit encryption.
8)
Statics when you need it
You can get the important information
that you need just by having a browser.
The information includes the status of
the echecks and so on.
Contact one of our helpful account
representatives to assist you in the
setup of a
high risk merchant account or
offshore merchant account for a
high risk merchant. |