NPS® can program Electronic Check Verification services into your existing electronic credit card terminal(s) or electronic cash registers to provide you a quick verification in as little as 8 to 10 seconds.
The programming will not affect your credit card merchant account programming and will provide you with the information you need at the point of sale to help you reduce returned check losses.
Because even the best check verification system cannot catch every bad check writer, we offer no-cost collection options for our customers, including sophisticated electronic re-presentment that returns 100% of the face amount of the check when checks are successfully re-presented.
All check verification transactions start at the point of sale. Various software and/or equipment options exist for obtaining the necessary check writer information, communicating with the verification system, and displaying the response.
NPS® Check Verification at the point of sale substantially reduces fraud and NSF returns. Just pennies per transaction can greatly reduce your risk of accepting checks.
With check fraud at an all-time high, NPS® Check Verification Services provides you with accurate, current data to help you make informed check-acceptance decisions.
HOW NPS® CHECK VERIFICATION WORKS
NPS® Check Verification provides maximum information at the point of sale by accessing a national database showing items such as:
Checking Accounts in good standing.
Checking Accounts that have been closed by a bank.
Checking Accounts that have outstanding unpaid checks with other merchants.
Velocity tracking that monitors checking account activity and alerts you of any excessive or abnormal patterns This entire process takes only a few seconds and afterwards, an Accept or Decline message is quickly transmitted back to your sales associate via your credit card terminal or electronic cash register.
CLEAREDCHECK-WORLD-CLASS RISK MANAGEMENT
NPS® Payment Processing is an authorized national reseller for ClearedCheck™ Verification services. ClearedCheck™ was developed in to help retailers combat the problem of bad check writers by sharing information.
ClearedCheck™ accesses one of the most advanced, up-to-date databases of bad check writers in the nation. ClearedCheck™ accesses information about checks returned by banks and other financial institutions and enables you to decide whether or not to accept a customer's check at point-of-sale.
Retailers also use this information to reduce their returned check losses and improve customer service.
*Some statistics on checks:
33 billion checks written in the USA in 2006.
$41 trillion of payments were made by check.
Largest market share of all non-cash transactions.
When you use ClearedCheck™, you have access to one of the largest database of known bad check writers in the country.- So you can cut your bad check losses by up to 80%.
How To Get Started
Sign your business up for ClearedCheck™ Check Verification services today! For just pennies per check, you will benefit from:
Accessing a national database of shared positive and negative data to cross-reference checks at the point of sale
Fast, point-of-sale reporting features with automatic referrals on declines
Programs designed to monitor customer check-writing habits
Detailed monthly management summaries
Free Professional NSF collection services to recover returned checks
Equipment purchase, rental and lease options for optional check readers, terminals and printers
Complete training on how to use the equipment and service.
NPS® can program Electronic Check Verification services into your existing electronic credit card terminal(s) or electronic cash registers to provide you a quick verification in as little as 8 to 10 seconds.
