As the trend of online businesses boomed, so did the various payment methods. It was a demand to bring in better fintech to ensure that businesses and customers could safely conduct online transactions without worrying. The reliability of any online payment method depends on its speed, authentication protocol and security. Electronic check is one such digital payment solution.
Though eCheck is the modern digital version of centuries old conventional paper checks, it is undoubtedly an efficient payment method since it checks all the right boxes. eChecks are fast, secure, simple and user friendly. Their usefulness comes in when processing high risk transactions or larger amounts. They facilitate absolute mobility and provide users a way of paying anyone from anywhere without any hassle.
They are fairly easy to operate since the user only has to fill in minor details and that’s all. They can be authorized over email or even on a recorded phone call. eChecks are also the go to payment method for recurring payments. Most payment processing companies do not charge for an eCheck set-up and it is less costly too as it is easy on chargebacks and there is no need for any hardware equipment too.
Benefits of eChecks:
An eCheck payment system offers several benefits for merchants and customers alike. Relative ease, enhanced security, speed and reduced costs for customers make it a popular choice for small, medium and high risk businesses. They have become more popular in the last decade and improved upon security, efficiency and in several other departments. They qualify as a great payment option for the undermentioned reasons:
• Faster, cheaper and convenient method of payment
• Lower transaction costs and reduced chargebacks
• Same day, low cost or free set-up of eCheck services
• Extremely helpful for low risk transactions
• Several authorization levels, reduced discrepancies
• Easy processing, no hardware installation needed
• Flexible, mobile and reliable payment method
• User friendly and environment friendly
eCheck payment processors offer zero fee setups and considering the speed of setup, business owners can begin processing payment on the same day. Faster delivery and accuracy make eChecks a preferable method of payment processing. Does your business accept eChecks? If not, then get it today. Set-up is free and you can start using it the same day. Don’t miss out on a popular payment option, you might be losing a lot of potential customers.