Online Electronic Paperless Checks

The Automated Clearinghouse (ACH) is an electronic payment delivery system. First introduced in the early 1970s as a more efficient alternative to checks, ACH has evolved into a nationwide mechanism that processes electronically originated credit and debit transfers for institutions nationwide. ACH is a rapidly growing alternative to paper checks and handles billions of payments annually. In fact, online checks will rise in value from $300 million in 2000 to $5.2 billion this year.

When businesses overlook ACH Paperless Checks, they lose the opportunity to nearly double their Internet sales. By offering paperless check processing, businesses contribute to their bottom line by expanding their potential customer base. Many customers either do not have credit cards or they prefer to pay with checks. Now, businesses can easily accept checks online with Online Check. This service allows customers to securely purchase products and services using their existing checking or savings account while allowing businesses to expand their online payment options beyond credit cards.

Merchant Partners is a pioneer in the transaction processing arena, and we continue to consistently provide our customers with leading edge products, ensuring every competitive advantage. Merchant Partners was first-to-market with paperless checks and today is second to none in paperless check processing.

Why Accept Checks?  89% of U.S. adults have a checking account  86% of all business payments are by check  23% of households do not have a credit card  45% of all credit card holders are within 5% of their credit limit  83% of all consumer bills are paid by check  80% of all non-cash payments are by check  10 million households without credit cards are online  74.6 million Internet check transactions in 2001  233 million Internet check transactions in 2002 Over 450 million Internet check transactions in 2003 (The statistics quoted above were gathered from NACHA and the U.S. Federal Reserve) Check Processing Services via Merchant Partners ACH Check Transactions (click for benefits) Merchant Partners ACH Checks provides a payment solution that enables online and traditional merchants to accept and process electronic check payments directly from their Web site's storefront or through the Merchant Partners Virtual Terminal. By accepting electronic checks, merchants are able to expand the payment options available to their customers and potentially increase their sales. Check Guarantee (click for benefits) Check Guarantee is the most commonly used check service allowing the merchant to “insure” the face value of the check and protecting the merchant against checks written on non-sufficient funds (NSF). Merchants obtain electronic approval or voice authorization for the transaction and then deposit the checks. Checks that do not clear can be submitted for reimbursement. Electronic Check Conversion (click for benefits) Check Conversion you can convert your customer's paper check into an electronic ACH transaction and process it using the same gateway process you use for all of your other electronic payments. Just scan the paper check through a check reader at the retail Point of Sale. Once the check has been converted, it is electronically processed just has if you entered it in directly via the Virtual Terminal. The original check is voided and handed back to the customer --- no paper processing is required!

Online Check Features:

• Comprehensive online paperless check processing - saves businesses the expense and difficulty of implementing a turnkey payment processing solution. Merchant Partners provides all the service and functionality a business needs to start accepting checks online.
  
• Low cost, low implementation - paperless check processing does not require an Internet merchant account, therefore businesses enjoy lower processing and transaction fees.
  
• Online Merchant Center - provides enterprise back-office services featuring robust reporting and utility options. Merchant Partners provides businesses the tools they need to effectively manage their online business.
  
• Industrial-strength security screening - ensures customers 100% online purchasing security over secure socket layer (SSL).
  
• Fraud and Risk Management (FRISK) - customizable fraud and risk management system that allows businesses to employ an optimal level of protection for their business. The result is maximized sales and minimized risk.
  
• Dedicated support - provides advanced and reliable client support. Merchant Partners gives businesses the personal attention and responsiveness they need to succeed online.

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