Echeck And Merchant Services Providers

Fervent growth of financial technology has greatly improved the payment processing methods. Process of financial transaction i.e. transfer of funds from one account to another can be facilitated in several ways. Before discussing about the payment processing industry, the software and the associated technology, it is imperative to understand the fundamental concept of payment processing. What is Payment Processing? Any financial transaction involves a total of three parties or players. 1. Customer, the one who pays 2. Payment processor that provides the technology 3. Merchant,  the one who receives the payment Payment processing is the management of fund transfer between two players. Companies that provide this facility or the technology are called as payment processors. An important function of these companies is making the transactions secure to curb frauds. Now-a-days there are multiple ways of completing a payment, via credit/debit card, eCheck payment over an ACH network,...

Payment processing systems are an integral part of websites and applications. Any website that provides a product/service ex: an e-commerce website and business, has to provide a process to send/receive payments. There are different methods to achieve this and eCheck is one of these methods. E-checks have recently become popular as they are a novel payment processing concept gaining immense popularity and merchant recognition. E-checks are the digital counterparts of conventional checks and are safe, fast and secure; they perfectly fit the profile for online payment processing services. What is an eCheck Payment? An eCheck payment system facilitates financial transactions between two parties. As compared to conventional methods like credit/debit card payment and other modes of digital payments, eChecks come with a guarantee of high safety, low risk factor, free & instant set-up. They are convenient for both, the customer and the merchant, since fund transfer takes place d...

Growing eCommerce has greatly increased the number of digital transactions. It is projected that by 2021, a total of $5 Trillion worth transactions will be made on e-commerce websites worldwide. This industry is growing at a rate of 21% currently and continues to grow rapidly. Since, more and more of these e-commerce platforms are enabled to carry out financial transactions, a secure payment system for websites becomes a necessity. With a secure payment solution , reputation and credibility of a company grows resulting in an increased ROI (return on investment). Ensuring a robust and secure payment processing solution instills confidence in a customer. A sense of security and the feeling that ‘my money is secure’ builds confidence and brand value of your company in the marketplace. Without these security measures, merchants and customers both are vulnerable to cyber-attacks, data-theft and fraudulent activities. In the last 6 years almost $112 billion have been siphoned off by cy...

New Year is the time for resolutions. It’s the time to learn from the past mistakes and take steps to overcome them. Agree? If you run a business and are unhappy with the way you process payments, 2020 is the time to make some rewarding change. Like what? Like staring with best merchant services ! Reason? To accept online payments and attract more customers since customers these days are more into making the purchase from websites and making the payments instantly using their credit and debit card. This way, they are not limited to physical money and can shop as much as they want without going anywhere. Make 2020 Your Year To Grab More Customers Forget the past and make blast now. Being limited to accepting physical cash harms more than it benefits. How? Because you only appease to the customers who pay through cash. On that note, customers who prefer online payment choose other businesses over you. Also, once they know you only accept physical money, they don’t bother coming t...

In today’s digital world, businesses that accept eCheck payments are more preferred by customers. This happens because they feel more comfortable & secure when they pay their bills via electronic checks. Electronic checks let customers enjoy online shopping anytime and from any place. eChecks can be done online or via phone in a very easy and hassle-free manner. Electronic check payment processing procedure The processing of eChecks is executed almost similar to paper checks. The processing procedure involves use of an electronic checkbook that contains encryption tools, check processing software and other required tools. Whenever transaction is to be initiated, a blank eCheck appears on the customer’s screen. The fields like date, account number, memo, etc. are already filled. A customer has to insert the e-book into the check processing machine. The customer then needs to unlock the checkbook by filling the required details. The serial number of the eCheck is filled automa...

In today’s highly competitive business era, business owners always look for innovative ideas and technologies to grow their businesses. They always try to maintain a steady stream of happy customers by providing them quality products and exceptional services at the lowest possible prices. But customers satisfaction is much more than just providing quality products and services at affordable prices. Keeping customers happy is all about facilities, convenience and reliability. Today most of the customers prefer eChecks or cards to make payments. That’s the main reason why a merchant account is a must have for all businesses.  What is a merchant account? A merchant account is an account that lets business accept online payments via payment cards. The account is just like an agreement between the bank, the merchant and payment processor for the resolution of online transactions.   Key benefit of having a merchant account A business cannot process credit or debit ca...

There is no need to mention that credit card processing is crucial for every business. Credit cards, being the latest payment trend have created a whole new tradition in the business world. Today, both business owners and customers are making sure that they use credit card processing. Not only for big organizations & multinational businesses, but limited size business can too benefit from this advanced system via credit card processing for small business . With this facility, they can increase their sales and improve their reputation. In simple words, credit card processing is a process of electronic money transaction from one account to another account. This whole process executes in a very standard and reliable way and this is why it is gaining high popularity among businesses of all size and types. Some small business owners may still ask, why they have to offer card processing? Reason being, they have to pay a processing fee every time a buyer presents card for paying...