With Prism Pay Check Conversion you can convert your customer’s paper check into an electronic ACH transaction and process it using the same gateway process you use for all of your other electronic payments. Just scan the paper check through a check reader at the retail Point of Sale. Once the check has been converted, it is electronically processed just has if you entered it in directly via the Virtual Terminal. The original check is voided and handed back to the customer — no paper processing is required!
Check Conversion Advantages:
Reduced check processing costs – Check conversion eliminates the costly and time-consuming tasks required to process paper checks. You can also reduce or eliminate check deposits and fees at your local bank.
Quicker processing times – Check conversion shortens the time it takes to get funds moving — transactions are processed at the time of sale rather than having to wait for the paper check to be delivered to the bank.
One step NSF processing – Checks processed electronically can be easily re-initiated (re-submitted) using the Online Merchant Center if they are returned because of insufficient funds. Daily reports are available to help you monitor NSF returns and resubmit up to two additional times.
Reduced fraud – All of your checks will be filtered through the Prism Pay ACH FRISK™ system. We maintain and are constantly updating an extensive negative account database to help mitigate fraudulent checks.
Consolidated Reporting – All of your transactions (credit card, paper check, retail, mail-order, telephone-order, eCommerce, batch, etc.) are available for viewing online 24×7 using the Online Merchant Center system.