QuickBooks POS version 9

Converting your customers’ paper checks into electronic checks helps save time and reduces hassle for your staff because you can submit payments electronically instead of making trips to the bank. However, time saving and hassle reduction are not the only benefits. Read on for more:

1. Reduce processing costs by up to 60%. eChecks require less manpower to process and don’t come with any deposit or transaction fees. As a result, processing an eCheck is generally much cheaper than processing a paper check or credit card transaction.

2. Receive funds sooner. Businesses that use electronic check conversion have their funds deposited almost twice as fast as those using traditional check processing. Billing companies often receive payments within one day.

3. Increase sales. If your business doesn’t accept paper checks, offering eChecks expands your customers’ options and can increase sales. If you’re converting from paper checks to eChecks, you can start accepting international and out-of-state checks while using account validation and customer authentication processes to protect your business from fraud.

4. Work smarter and greener. Electronic check conversion is easy to set up. It relies on the trusted ACH Network. And eChecks help reduce the more than 67.4 million gallons of fuel used and 3.6 million tons of greenhouse gas emissions created by transporting paper checks.

5. Decrease errors and fraud. eChecks reduce the potential for errors and fraud because fewer people handle them. Merchant service providers also maintain, monitor, and check files against negative account databases that store information about individuals or companies that have records of fraud.

Protecting your business—and your customers

Electronic check conversion is one of the most secure payment methods in the electronic payment processing industry because it uses the latest information protection features:

1. Authentication. Merchants must verify that the person providing the checking account information has the authority to use that account. Authentication services and products available to merchants include digital signatures and public key cryptography.