Collect Your Business Payments On Time With Electronic Check Payment Facility!
An echeck that is known as electronic check payment is an automated method of transferring the funds with the help of an ach network to the checking account of the stores that accept electronic checks online. A business merchant can easily retrieve the authorized payments from the customer for the products and services that are sold online with the help of an echeck merchant account.
What Is The Procedure Of The Electronic Check Payment Processing Who Accepts Electronic Checks?
The electronic check payment gets processed faster in compared to with a traditional paper check. The electronic check echeck doesn’t require manually filling the details and then posting it to the business merchant, thus too much wastage of time and charges for posting.
Electronic check processing for small business is divided into four steps:
- Requesting For Approval: To initiate a payment process, the business merchant needs approval from the customer regarding the transaction. A request for support of electronic check payment can be initiated by a call conversation or an online payment form which needs to be filled by the customer.
- Setting Up The Payment Process: When the customer approves for the electronic check payment, the customer has to fill the required information in the form provided by the business merchant for the online payment.
- Finalize The Transaction: After successfully filling all the detail necessary for electronic check processing, submit the form so that it can be processed to the ach network.
- Completing The Transaction: After submitting the online payment form with the electronic check processing machine, the funds get debited from the customer’s bank account. It usually takes expecting around three to five working days for the funds to be reflected in the business merchant’s bank account.
What’s The Cost For Processing The Electronic Check Payment?
Quadrapay provides the electronic check processing services solution which charges very low electronic check processing fees for electronic check solutions compared to the others in the industry of merchant services so that you can save more in processing and make more revenue from your online business trade.
Recurring Payments Can Be Accepted With The Help Of Electronic Check Payments!
Yes! The most popular method to accept recurring payments is actually the echeck payments method by the most electronic check processing companies. Especially in the case of mortgage payments, the bank officials ask customers to fill the form for recurring echeck payment solution, so that funds can be transferred automatically from the customer’s bank account to the payee’s bank account on the certain fixed tenure of every month.
How To Obtain An Echeck Merchant Services Account From Quadrapay?
Getting a merchant account to process the electronic check payments is the same as other similar merchant accounts like credit card merchant accounts provided by Quadrapay. You have to just provide the details that include:
- A Government approved Identity, like a passport.
- Business Experience in years.
- Processing Volumes from your business trades.