Conventional electronic check conversion begins with the same process offered with check verification to provide an authorization or decline to the merchant during the sale. With check conversion the information collected while verifying the transaction is then used to electronically debit the consumer and electronically deposit funds to the business account, much like the credit card or debit card environment. We also capture and store a digital image of each check authorized and provide Internet retrieval of checks for our resellers and their customers.

Our conventional electronic check conversion routes all consumer checks and the business deposit through the ACH network. If your bank or your customers opt for the Visa POS services the check information is routed directly to the consumer’s bank (if his or her bank is a participant) where account status and balance are verified before the authorization or decline is routed back to the business. If the consumer’s bank does not participate then the check information is compared to the national negative database for authorization or decline. Any of these services result in the business stamping the authorized check void and hand it back to the consumer.

This reduces the deposit activities for the business such as listing checks, preparing deposit tickets and visiting the local branch or night drop; it also expedites cash flow resulting in higher collected balances. Our settlement systems allow us to facilitate all settlement, which provides the business with one consolidated deposit irrelevant of the routing of the check. We also handle all due to / from settlements with the various third parties through our company thus eliminating reconcilement or settlement by any of our reselling partner banks.