E-Check Payment Processing for Your High-Risk Businesses

Posted by Daniel Brain on June 19th, 2018

Have you ever been asked by the client to make payment utilizing an Echeck? Merchants frequently let their payment processors handle the details. Also, when disputes emanate later, the merchant is left with little to do, other than accept the processor’s requests.

As an entrepreneur, you must know what goes on when a customer pays through an echeck. Be that as it may, to start with, let’s answer the obvious question: what is an echeck Processing?

An electronic check is a type of payment process where a client’s assets are deposited into a merchant’s account over the ACH (Automated Clearing House) network. To process such payments, a merchant requires an check processing, through which payments made by e-checks can be pulled back straightforwardly from the customer’s bank account.

If your business already accepts credit and debit cards, your present Merchant account Provider might be willing to incorporate ACH preparing to your effectively existing system. Organizations, for example, Merchant Stronghold offers both cards and Echeck Payment Services to online businesses.

Once you’ve recognized a processing account that concurs with your requirements, the time has come to fill out the application. The data required will incorporate your evaluated processing volumes, and in addition the years your business has been in operation. The application process is normally quick and simple, and approval typically takes a couple of days.

How Echeck Processing Works?

In some ways, Echeck processing is like paper check handling, although it is faster and more efficient

Echeck Payment Processing generally takes place in the following steps.

The purchase is Approval
To approve the purchase, a client can either round out an online form or converse with the merchant specifically through a recorded telephone call. Simply, after the approval, the merchant can pass the check data to the payment processor.

Payment is Completion
The payment processor supervises the immediate withdraw of the funds indicated by the check from the client’s bank account and prints out a receipt.