Electronic check processing offers your company a fast, efficient and secure method for receiving funds. Unlike the conventional method of waiting for a customer to mail a check, our phone check services allow you to verify and collect money electronically while your have the customer on the line.

Today, only one out of four checking account holders has a credit card with an available balance.   In a recent study done by Mastercard, over 25 million Americans cannot get credit because of troubled or nonexistent credit histories.  Consumers are both maxed out and can't use their cards or are rethinking that old familiar "charge it!" and are moving towards check based transactions. In fact, in addition to the 25 million Americans who can't buy with credit anymore, nearly one third of all consumers online today, prefer to use a check for payment.

Offering e-checks has shown revenue increases of 3% to upwards of 15%.  Companies offering multiple payment types increase completed sales by 14%.  In addition, the cost is significantly lower than taking a credit card payment. 

• Greater market opportunity
• Closes the sale at point of contact
• Faster order processing
• Eliminate CODs
• Electronic checks are less expensive than credit cards
• Enhanced cash flow
• Electronic items clear faster than paper items
• Potential for lower bank fees
• Simplified "back office" processing (import electronic files to update your A/R and cash)
• Convenient and faster processing of checks
• Automated re–submission for NSFs
• Lower NSF´s rate and higher collection of those that do return
• Quicker collection opportunities (48 hours vs. 14 days)
• Overall cost savings (lower administrative costs)
• Customized Software solutions that are easily integrated
• Simple ASP Model Available

Every time your company converts a credit card payment to a e-check payment there is a significant savings. Our customers have reported savings up to $40.00 per item in credit cards fees. Statistics show that handling a paper check costs your company $1.75 as opposed to taking a phone check that will cost your significantly less and increase cash flow. When you accept checks by phone, it also reduces your exposure time for returned checks from 3 to 10 days to 72 hours.

This product for over–the–phone sales and collections electronically accepts payments using a web hosted product that processes the check and deposits the money directly into your bank account. The set up for phone checks is simple using our ASP model with the only system requirement being access at your customer service desks to the Internet. CheckVantage also provides software technology that integrates with your database for a completely customized solution.

CheckVantage has spent many years working with customers that take payments by phone. Simply put with the software and technology in place today electronic check payments are available for any business that needs to take a payment at time of contact while the customer is on the phone and ready to pay.

• Greater market opportunity
• Faster order processing
• Eliminate CODs
• Electronic checks are less expensive than credit cards
• Enhanced cash flow
• Electronic items clear faster than paper items
• Potential for lower bank fees
• Simplified "back office" processing (import electronic files to update your A/R and cash)
• Convenient and faster processing of checks
• Automated re–submission for NSFs
• Lower NSF´s rate and higher collection of those that do return
• Quicker collection opportunities (48 hours vs. 14 days)
• Overall cost savings (lower administrative costs)
• Customized Software solutions that are easily integrated
• Verification+ looks at the account to verify that it is open and in good standing at the bank (currently covers 50% of the DDA´s nationally)