TeleCheck® Electronic
Check Acceptance

The TeleCheck® Electronic Check Acceptance® (ECA®) Verification service gives merchants an efficient option for accepting checks at the point-of-sale. This service is ideal for merchants who want to implemen an electronic check service to avoid traditional bank fees and manage their own collection efforts.

The Challenge

Customers want payment options, so merchants need to accept and process checks. Paper checks create a number of extra steps for the merchant and can be a cost burden. They represent higher risk for fraud. They need to be verified, reconciled, physically taken to a bank for deposit and processed. In addition to waiting several days for funds, merchants have to pay various fees to their banks for processing.

The Solution

The TeleCheck® ECA® Verification service is one of the industry's most sophisticated check verification systems. It gives you the confidence to accept more checks while reducing bank fees and processing costs. You will see an improvement in cash flow with faster funding utilizing the TeleCheck ECA Verification service. And with electronic check processing, you return the check to the consumer helping to protect your customer's personal information. The TeleCheck ECA Verification service screens checks against information from hundreds of thousands of businesses and financial institutions, minimizing the risks associated with check acceptance. The TeleCheck ECA Verification solution helps you improve operational efficiencies and reduce losses from returned checks. Merchants also experience expedited closing, balancing and settlement after implementing this service.

Here’s How It Works

After a customer gives you a paper check, TeleCheck uses leading risk assessment technology and extensive check-writer negative and activity databases to evaluate the risk of accepting a check. If the check meets the verification requirements, the TeleCheck ECA Verification service converts the paper check into an electronic transaction at the point-of-sale. The Automated Clearing House (ACH) network is used to process the transaction and funds are deposited directly into your bank account generally in two business days.

Features

• Point-of-sale check conversion
• Faster funding and simpler reconciliation
• Access to extensive negative and activity databases for current check-writer information

A Global Leader in Electronic Commerce

FDIS Empire State uses First Data's processing engine. First Data powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services using virtually any form of payment. For over 40 years TeleCheck, a First Data Company, has been a leading provider of paper and electronic check services helping more than 375,000 businesses and financial institutions increase profitability, reduce risk and streamline operations. Find out how our expertise and insight can accelerate your business.

• NO application fee!
• NO reprogramming fee!
• FREE merchant account setup!