Merchant Check Processing Services
Checks are a viable form of payment, and can be presented and accepted in many ways. PowerPay offers a suite of electronic merchant check processing solutions giving merchants the ability to accept payment by check in any environment.
POS Check Conversion with Guarantee
PowerPay offers electronic check conversion with verification, utilizing the latest in check acceptance equipment. Merchants can accept payment by check, worry-free. The check will be fully funded at the point-of-sale, taking the burden and expense of returned checks off of the merchant.
Remote Deposit Capture (RDC)
With PowerPay's Remote Deposit Capture solution, a merchant may scan the checks they receive into image files and upload them for deposit; removing the need for manually depositing the checks at their financial institution. Whether a merchant accepts 10, 100, or 1,000 checks per month, PowerPay offers an RDC program specifically designed to meet each merchant's needs.
Automated Clearing House (ACH)
ACH check processing is a method for accepting payments directly from a customer's checking account when the check is not present. For merchants billing customers on a regular basis or if a customer is making a one-time purchase online, ACH is a low-cost solution for receiving payment by check.
Image Cash Letter (ICL)
PowerPay provides a unique check processing solution, Image Cash Letter processing (ICL), designed for merchants who typically have a higher rate of check returns and therefore would not be allowed to submit ACH transactions. Under the Check 21 Act, the ICL service allows a merchant to convert basic check information and customer data into a digital representation of a check, which is then submitted for payment with ACH.
Check Collection is a free-to-the-merchant electronic check recovery solution that is offered by PowerPay. The merchant's financial institution notifies PowerPay of any returned checks, who will then act as the recovery agent in an attempt to collect the face value of the check and the associated Non-Sufficient Funds (NSF). Once recovered, 100% of the face value is paid to the merchant.
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