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.