Point-of-Sale Conversion
Simplify
Check Acceptance
Point-of-Sale Conversion is designed
for Retail Owners to accept all types of checks at the point-of-sale
and easily convert them into electronic transactions.
Key Features
-
Submit checks
and transfer funds electronically
-
24/7 access to
retrieve check image and authorization via our secure website
-
Real-time verification
database reduces risk of accepting bad checks and collection
costs
-
Upload files
to update your in-house accounts receivable system
-
Checks received
through any remote or branch office/store locations can be deposited
through one banking institution/account, simplifying bank reconciliation
processes
How Does Point-of-Sale
Conversion Work?
- A Consumer presents a completed
check to the Merchant, who scans the check through a check scanner
to capture the check image and data.
- Check information is transmitted
through EFT Network’s database and verification system for
approval.
- A receipt is printed for the Consumer
to sign, authorizing the debit.
- Captured data and images are sent
to EFT Network for processing.
- Our system automatically distinguishes
and converts Consumer items processed as ACH items, with Non-consumer
items including corporate checks and payroll checks into Check
21 IRDs.
- The funds are processed through
the ACH, electronically debited from the customers account and
available in your bank account within 24 to 48 hours, alleviating
a trip to the bank.
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