Merchant Accounts

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Electronic Check Processing

Written by Patricia Tunstall
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Electronic Check Processing Means More Sales

Electronic check processing has been a boon to customers who may not have credit cards, and therefore, it has rewarded merchants with increased sales. Anytime a business limits payment options from patrons, it also limits the volume of purchases. Conversely, opening up payment to checks as well as credit cards enables any customer to make a purchase, whether planned or bought on impulse.

Acceptance of any form of conventional payment by consumers results in increased sales because the range of customers is increased. It stands to reason that if only credit card holders are welcome in a store, all those who choose to pay by check, or who must pay by check, are excluded--and so is their money. Fast electronic check processing brings security to payment by check for both merchant and customer.

Online Check Processing

Nowhere is the beneficial effect of check acceptance greater than in online businesses. The value of online checks is approaching $10 billion! The value has risen astronomically in the last four years, as businesses and consumers have discovered the total convenience of online shopping. Not only can customers remain at home and complete a purchase from order to payment, but they can use their existing checking or savings account to pay.

With billions of payments handled by the Automated Clearinghouse (ACH), a merchant should not overlook this check processing solution. Electronic check processing lets the merchant tap into the market opportunity that is represented by the sheer magnitude of these numbers. Statistics show that a business can double its sales by offering ACH services.

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