NPS® can program Electronic Check Conversion/Guarantee -into your existing electronic credit card terminal(s).
This programming will not affect the credit card merchant account programming in the terminal and will provide you with an added payment option in dealing with your customers.(Some existing processing platforms may require you to obtain a new separate terminal due to internal memory limitations).
PC -batched, and/or leased-line merchants can use Check Conversion as well! Let us know your requirements. Electronic Check Readers are also available for rental, lease or purchase.
ClearedCheck™ Electronic Check Conversion
TURN YOUR CUSTOMER'S CHECK INTO A CASH DEBIT!
...WILL THAT BE CASH, CHARGE OR ELECTRONIC CHECK?
Increase Sales! Open your business to a new market: More than 70 million consumers do not own a major credit card. Accept their check!
Let NPS® Payment Processing provide your company with a unique Point of Sale system for the acceptance of an "electronic check" from your retail customers. This systems works especially well not only with retail businesses, but also restaurants, grocery and convenience stores, where it is desirable to speed up the check processing & settlement time.
Designed to mirror the process currently used for credit cards, our electronic check conversion service converts paper checks into electronic items at the point of sale and automatically deposits these funds into your account.
The net effect of electronic check conversion is to expedite the receipt of funds from check paying customers, while greatly reducing check processing related costs and associated risk.
HASSLE-FREE CHECK ACCEPTANCE WITH NPS® CLEAREDCHECK™
HOW CHECK CONVERSION WORKS...
Your customer provides your cashier with a blank or voided ,check, at the cash register or point of sale. This check is used to initiate an Electronic Funds Transfer or "EFT" through the Federal Reserve banking system's ACH or Automated Clearing House network.
After receiving the check from your customer, your clerk simply enters the check into an electronic check reader which captures the the bank routing number, account number and check serial number.
A electronic check authorization/receipt (similar to a credit card receipt) is then produced on the spot for your customer to sign, and the check is then stamped "converted to electronic debit"" and sent to our processing center for imaging.(The first time) Subsequent checks from that customer can be handed back to the customer after they are entered through the check reader!
The printed authorization/receipt is worded as to permit you to re-initiate a returned electronic check entry and to access a collection fee in the event the electronic check is returned unpaid for non-sufficient funds. In addition, Instead of having to pay a costly returned check fee to your bank, You incur only a fraction of this fee in the form of a nominal transaction charge!
Electronic Check Conversion verifies each check and converts it to an EFT transaction for fast payment to the merchant through the Federal Reserve's (ACH) Automated Clearing House System. This new electronic check system is currently being introduced to retailers across the country with much success.
The service can be programmed either with or without a complete guarantee for payment.
BENEFITS OF ELECTRONIC CHECK CONVERSION TO YOUR BUSINESS
ELIMINATES BAD CHECKS! (with the check guarantee option)
Eliminates check handling costs associated with manual data maintenance, storage of paper checks, etc.
The guarantee program totally eliminates any bad check returns.
Eliminates daily deposit slips and deposit fees.
Eliminates NSF checks and fees.
INCREASES CUSTOMER CHECKOUT SPEED!
Better efficiency. No need to slow up checkout lines or embarass your customer with requests for driver's license, or other forms of I.D as required now by most national check guarantee companies.
SPEEDS UP PAYMENT, SETTLEMENT AND RECEIPT OF FUNDS!
Risk is reduced by the expediting of return items:
Speeds up cash flow dramatically with 24 hour automatic deposit of the electronic check funds into your account!
Gives you Automatic check collection through the ACH. No need for embarrassing calls to
the customer to retrieve money.
MAXIMIZE YOUR SALES, MINIMIZE YOUR RISK
Electronic Check Conversion-A faster, much better and less costly system than the old, traditional check guarantee -with all the benefits of standard check guarantee!
The check guarantee feature totally eliminates the risk commonly associated with accepting checks under a liberal check acceptance policy. This is a system that will make it safer, faster and easier to accept checks and will make checks a more viable payment option for both you and your customers.
NPS® can program Electronic Check Conversion/Guarantee -into your existing electronic credit card terminal(s).
