eCheck Processing
eCheck Processing Basics
Electronic checks are one of the fastest growing payment solutions for the eCommerce industry. Most small businesses and nearly half of online consumers prefer check-based payments. It lowers the cost of payment acceptance while improving retention and attracting new customers. UniBul Merchant Services’ eCheck services are fully integrated with our payment processing solutions and reporting systems. Our real-time approval and payment solution can improve operational efficiencies and may increase revenue by offering stronger fraud protection, quick funding and low-cost integration.
How it Works
Customers enter their checking account information in your payment acceptance form. UniBul Merchant Services then directly debits the funds electronically and transfers them to your checking account. There’s no paperwork, no hassles and reduced risk of fraud and chargebacks. The check is processed as an electronic transaction through the Automated Clearing House (ACH) network and funds are in your bank account generally within two business days.
Benefits
Electronic Check Processing enables you to accept payments online and over the phone, at a lower cost than both paper checks and credit cards. It is also well suited to recurring payments, such as monthly fees and memberships, in which the customer’s bank account is debited monthly. And, with check conversion, you can convert paper checks you receive in the mail into electronic checks, streamlining operations and accelerating funding time frames.
Features
UniBul Merchant Services’ electronic check processing service supports:
- Acceptance of electronic checks in US and Canadian currencies
- Single file submission of both electronic checks and credit card orders
- One-time and recurring payments
- Comprehensive reporting and online transaction history search tools
- Account validation and verification ensures accurate bank information and identifies negative check writing history
- Non-sufficient funds (NSF) and uncollected balance automatic redeposit, with definable redeposit parameters
- Deposit matching (UniBul Merchant Services stores account change information for merchants)
- Consumer authentication (verifies consumer identity to minimize fraud losses)
- Account receivable check conversion (ARC)
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