Posts tagged as:

ACH

Payments 101: What is Check Guarantee?

July 12, 2010

The Payments 101 series explores Check Guarantee Check Guarantee is exactly what you might expect based on the name. Simple, right? Acting as a type of insurance for the merchant, Check Guarantee ensures a merchant is paid for

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Payments 101: What is Check Verification?

July 6, 2010

The Payments 101 series discusses the basics of Check Verification Although the use of paper checks has seen a steady decline with the rise in popularity of electronic payments, the 2007 Federal Reserve Payments Study* reports that a staggering 33.1 billion checks were written in 2006. With so many checks still in circulation, today’s merchant [...]

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What is Remote Deposit Capture?

June 30, 2010

Payments 101 provides an overview of an additional service that turns paper checks to electronic checks- Remote Deposit Capture (RDC). Remote Deposit Capture allows a merchant to scan a paper check and remit the scanned image via a secure connection to their bank as a digital deposit. This differs from

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What is Check Conversion?

June 29, 2010

The Payments 101 series explores other services utilizing the ACH network. Check Conversion is the process of converting paper checks into electronic payments. In instances where a consumer presents a paper check to a merchant, the check is scanned or processed through

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Payments 101: What is ACH?

June 28, 2010

How a Paper Check Becomes an Electronic Check ACH (automated clearing house) transactions are electronic check transactions that leverage an existing, inter-bank, network between financial institutions to remit payment. Referencing the image below of a traditional ACH workflow,

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