Convert paper checks into electronic transactions at the poiint of sale with Electronic Check Conversion Services from Merchant Data Solutions. With this new service, you can continue offering your customers the option of paying by check while you dramatically reduce the risk and costs associated with this payment type.
Electronic Check Conversion converts paper checks into safe, efficient electronic checks. By submitting checks through the same system that you use to authorize credit card transactions, you can significantly lower processing costs and improve cash flow.
Fast Access to Funds:Checks are automatically converted to electronic transactions - which are settled with the same speed and ease of credit card transactions.
Reduced Cost:Eliminates the time, labor and paperwork associated with paper checks. There's no need to fill out a daily deposit slip or drive to the bank for daily deposits.
Minimized Risk: Authorization and guarantee services will reduce the risk of returned checks.
Detailed Reporting: All electronic payments are consolidated on monthly reports and statements as well as included in our online reporting.