MyECheck Removes the Risk of Using Electronic Checks to Purchase Merchandise Online
With all the fraud that has taken place with checking accounts, it is common knowledge that receiving checks in exchange for merchandise is not the most secure way to do business. This is unfortunate since 50% of adults either have no credit card or no available credit, leaving them with little option when it comes to buying merchandise online.
However, through MyECheck’s Check 21 solution, ecommerce sites are able to quickly, safely, and cost effectively process electronic checks. When combined with MyECheck’s SPS solution, online merchants can ship the purchased merchandise the same day with confidence that they will be paid, even if their customer’s check bounces.
In less than one second, SPS authorizes checks from its database of millions of records, accessing both local and national negative files of unpaid checks, along with other proprietary verification services. This extensive verification gives MyECheck the assurance needed to offer this competitive service.
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