Echeck Merchant Services

Echeck Merchant Services By Quadrapay

Echeck Merchant Services. Perfect For Low And High Risk Merchants.

We all know the importance of accepting checks in businesses. Let me explain the concept of echeck in businesses. Echecks are introduced because paper checks are difficult for record keeping and it helps in saving time. Nowadays every merchant accepts echecks for their business purpose. Basically, echecks are known as an electronic check that is used for online payments.

Before we start to know about echeck merchant services you should know about a merchant account, echeck processing, and services. Every merchant should have a merchant account for business transactions. Most younger people are using debit cards and e-wallets for transactions while businessmen and consumers are using checks and echecks. Getting approval for a merchant account is not so easy, and if your business is known under high risk merchant, then it is quite challenging to get approval. A merchant account is a financial institution which takes care of all your business transactions. Merchant accounts allow the merchant to accept debit and credit card processing. A merchant account is necessary to run an efficient business.

ACH and echeck are widely used for payment processing. It is also used for recurring payment. Echeck processing is used for a reliable and secure transaction. In this process, the recipient will carry the paper check with him and gets scanned the paper check to convert it into echeck. In echeck payment, a merchant should know the bank details for transaction authorisation.

Echeck merchant services are those services which are offered by the merchant. Echeck and ACH processing is one of those services provided by the merchants. To process echeck and ach payment, a payment gateway is needed for the succession of a transaction.

Working Of Echeck Merchant Services:

  1. Authorisation: The first step is to take authorisation from the payer. For purchase approval, a payee will collect the details from a payer. A payer can get the details over a mail or phone call. After authorisation, the details will be entered in the virtual terminal and forwarded to the payment processor for further validation.
  2. Payment finalisation: After the authorisation step, the payment processor will check the requested data such as account number, routing number, account holder name, and requested money. If the payer doesn’t have requested money in the bank account, then the transaction will be declined. If the requested money is present in the payer’s account, it will be debited from there and credited to the payee’s account.
  3. Fund deposition: When the entire transaction is successful, the funds will be credited to the payee’s bank account, and it will be reflected in 2-3 working days.

We are also providing echeck services with low processing fees. We accept debit and credit card processing. Visit our profile to fill the application form. Alternatively, you can drop a mail on [email protected]. We will be waiting to assist you with our services.