Accept Check Payment Online Can Help Your Business Grow!
A small business merchant can accept check payment online to take several advantages associated with it. Echeck helps a business to save time in terms of processing speed while compared to the traditional paper checks. Online check payment also does not require any physical movement to the banks to get them to deposit and settle in the acquiring bank account. This also helps in business overall business revenue because processing charges involved in online check payments are very low compared to other payment methods like a debit card or credit card payment processing. Quadrapay is one of the best online check payment processing service providers so that you can get the solution for what you are looking for. Get in touch with our expert today!
What Are The Major Advantage To Accept Check Payment Online?
An online check payment uses the network of ACH (Automated Clearing House) to retrieve funds from the customer’s bank account and get them settled in the merchant’s acquiring bank account.
There are several benefits that a merchant can take advantage of to accept check payment online.
- Low Processing Charges: There are several payment processing methods available in the industry. Credit card is one of the most used payment methods. But the major problem is that a business merchant needs to pay higher processing charges. In the case of a high-risk merchant account, these processing charges may go further higher. That’s why it is advised for a business to accept check payment online. Echeck processing helps Business to save a lot in processing fees.
- Ease Of B2B Payment: There are still a lot of businesses that use paper checks to pay between the Business to business payments. But in this digital era, it’s unnecessary to physically go to the bank to deposit a check and then wait for it to get reflected in the bank account. With the help of electronic check payments, a business merchant can quickly transfer the funds at just some few clicks of a button.
- Subscription Based Payments: The main feature that attracts a lot of people to use echeck is that it allows recurring billing facility. This feature helps your customer to pay for products and services in multiple small transactions for a specific period of tenure. It provides both options as a lump-sum payment or recurring billing payment.
- Help Business Grow: By implementing the echeck payment option, you can advance your diversified payment system to customers. This will provide ease of payment to those customers who don’t use a credit card or might have an issue using the credit card for payment. Funds will be debited directly from the customer’s bank account and transferred to your account. More customers mean more profit with the business sales.
How To Get Started With To Accept Check Payment Online?
We at Quadrapay knows the struggle of a business merchant. That’s why we have made things simpler for you. To get started to accept check payment online, you need to have a merchant account. A merchant needs to fill the account application form and submit it. Along with the form, it is vital to submit some required documents to complete the verification procedure.
- A Government identity; like a passport
- Bank Records up to the last six months
- Processing Records up to the previous six months (if applicable)
- Void Check
- Business registration details
This might take up to 48 to 72 hours for merchant account activation. Meanwhile, you can reach us at [email protected].