Echeck Merchant Account

What Is An Echeck Merchant Account?

Echeck is also known as Electronic check. It is a prevalent mode of payment processing in the United States of America. After Credit Card processing, echeck is one of the most popular modes for payment transactions. Many industries are entirely dependent on echeck as most of the Credit Card processing companies usually say no to these businesses. Some of the industries that use echeck merchant accounts are

In this detailed article, you will come to know about multiple factors of echeck merchant account. You will also get to know about the advantages of using electronic check. This article will also give detailed information about how to get an echeck merchant account in the United States. We will also let you know about the basics required for the integration of echeck account. To improve the chances of approval, you will get some basic guidelines about web compliance related to electronic check merchant accounts. Let’s get started.

Advantages Of Using An Echeck Merchant Account.

There are multiple advantages of echeck. The most critical factor is cost-effectiveness. Compared to Credit Card processing electronic checks can be extremely inexpensive. Most of the times these accounts are available at zero setup cost or no upfront cost. The merchant pays a fraction of amount for each transaction. (High Risk Echeck Merchant Accounts may cost higher.)

Details Validation.

Unlike substitute check modern features of echeck merchant accounts offer various validation features. These include validating the account number, checking the routing number and also validating the availability of funds in the account. All these three features help businesses in reducing the NSF ratio (Insufficient Fund).

Virtual terminal with each Merchant account.

In today’s world getting a virtual terminal for Credit Card processing is tough for most of the business type. Having said that please note that electronic check offers a virtual terminal facility to almost all business types. No matter if you are a low risk or a high risk merchant you make qualify for a virtual terminal with the electronic check merchant account.

How To Get An Echeck Merchant Account?

The process of getting the solution for your business is simple and straightforward. All you have to do approach a processing company the offers this facility. Quadrapay works as an independent sales contractor for various electronic cheque processing companies. If you want we can get you connected to a reliable echeck processing company in the United States of America. You will have to submit a detailed echeck processing account application to the processing company. The processing company will also require KYC documents(know your customer documents). The processing company will further analyze your risk profile. If the underwriting team at the processing company is comfortable working with your company as well as your industry type then there is a possibility that they will send you the echeck account agreement. You should closely read the contract and based on your understanding you may sign it. After signing up, the echeck company will send you the username, password on API information for the gateway.

Integration Of Echeck Merchant Account.

Integration of echeck merchant account is usually very straightforward. Most of the processing companies offer readymade plugins for various content management system. If your website is built on custom codes, then you can easily integrate your site with the Gateway by implementing few PHP files on the web server. Our team will be happy to assist you with the integration process once your account is approved through our processing partners.

Web Compliance For Echeck Merchant Account

To improve the chances of approval, we strongly recommend you to follow a couple of basic web compliance guidelines. Detailed information about all the products and services that you sell should appear on your website. Small historical background about your company and the leadership team will also help the processing company to generate a positive image about you. Your site must have the required pages that are terms, policy, refund policy, and shipping policy. Proper pricing should be mentioned on all the product page. Your website should be secured by using an SSL certificate. Many echeck merchant account providers require a toll-free number on the site of the merchant to be approved. This helps the processing company in reducing the return ratio.

To get more detailed information about how you can get echeck merchant account, please fill the form on our website. Our team members will be happy to assist you.