eChecks and TeleChecks are a great service for consumers. They allow consumers to pay their bills online using their checking account. This can greatly benefit universities, government agencies, even the electric company giving them yet another possibility for online transactions making it easier for the customer to pay their bills. You too can manage electronic check processing for your business using Genesis Merchant Service software.
Genesis Electronic Check and TeleCheck Merchant Processing will bring your business a larger online clientele by offering the eCheck service and because this service is automated, it will help you lower cost. Genesis Merchant Services offers this complete service tool.
TeleCheck Payer enters ABA routing number and checking account information in a TeleCheck-hosted (hosted-capture) window or fields embedded in your payment page (merchant-captured). TeleCheck supports either merchant-capture or hosted-capture methods.
Paymentech Payer's account and banking information are entered into fields embedded in your payment page. Merchant captures and handles account information required for processing.
Key Benefits of E-Checks
1. Reduce processing costs. The cost to process a check electronically is generally lower than to process a credit card.
2. Reduce billing costs. Less need for invoicing therefore a lower cost of accounts receivable administration.
3. Receive deposits sooner. Deposit funds nearly twice as fast as paper-based check processing.
4. Increase sales. Convert sales that would otherwise be lost (even in todays electronic world some customers prefer not to use credit cards).
(PPT is a registered Independent Sales Organization/Merchant Service Provider for HSBC Bank USA, National Association, Buffalo, NY and Wells Fargo Bank, N.A.,Walnut Creek, CA)