Electronic Check Service is a payment service
that allows online and traditional merchants to accept and process electronic check
payments -- either directly from their website storefront or through the
Virtual Terminal.
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Electronic Check Service makes it easy for online businesses to
add an electronic check payment option to their Website. Customers who wish to pay
for a purchase with an electronic check can simply select the electronic check option
and enter the requested bank account information. Electronic Check Service encrypts
the data using SSL 3.0 encryption technology and transmits it to the secure server
for posting. Transactions are automatically settled each day. Then the system debits
the consumer's account via the
Electronic Check Service
* and transfers the funds to the merchant's account.
If the account numbers are entered incorrectly or the account has insufficient funds,
the Electronic Check Service system notifies the merchant.
*The
Electronic Check Service is the electronic network which transfers and clears funds
between banking institutions on behalf of merchants and their customers. Each transaction
takes approximately 48 hours to clear, and we strongly suggest that merchants wait
five days from the initial transaction date before shipping any goods. This leaves
two days to debit the consumer's account, two days to deposit the funds into the
merchant's account, and one day for the bank to post the transaction. Because of
this unavoidable delay, Electronic Check Service should not be used by merchants
who sell soft or digital goods that are normally downloaded immediately upon completion
of the sale.
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Traditional merchants without commerce-enabled Web sites can also
use Electronic Check Service to handle periodic billings. Businesses such as health
clubs, tanning salons, subscription services, ISP's, membership companies, and health
care practitioners are typical examples of businesses that need the ability to periodically
deduct funds from their customer's checking accounts. Of course, customer approval
is always recommended, and merchants must sign a separate Electronic Check Service
agreement to perform these types of transactions.
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If you would like to learn more about our Electronic Check Service
please read our Support Guide.
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Apply Online Now!!!
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