Minimize Risk With
Faster Access To Your Funds
Reduce costs, minimize risk and gain faster access to your money by converting paper checks into electronic transactions.
For many businesses, check acceptance is a necessary but expensive and cumbersome part of conducting business. With Electronic Check Service (ECS) from Iroquois Merchant Services, your business can continue to offer your customers the option of paying by check, while reducing the risk and costs associated with accepting those checks. eChecks also allow for faster processing.
The Processing Flow of Our Electronic Check Service
ECS from Iroquois Merchant Services supports real-time processing of paper checks for point-of-purchase, back office conversion and accounts receivable.
- Point-of-purchase: When the payer presents the check to the business, it is processed through the reader/imager. Once it is approved, the payer will sign the receipt and get the check back. The check is marked as “electronically processed” on the back.
- Accounts receivable: Once the business receives the check via mail or other delivery method, the check is processed through the reader/imager. It will be validated and authorized according to the way the business has been set up. Once processed, the business destroys the check.
- Back-office conversion: The check is presented to the business and then processed through the reader/imager. No signature is required from the payer. The payer receives a receipt or notice that the check will be processed electronically, and the check will not be returned.
All eCheck payments will be processed in accordance with applicable regulations and business requirements. Approved transactions and images are reconciled and financially credited to the business’s bank account.