Electronic Checks Boost Sales

Merchants boost sales by 8-20% by offering electronic checks as a payment option. Combining electronic checks with credit card processing gives merchants the ability to accept both credit card and echeck transactions through a single gateway connection.

Electronic check processing increases revenues and enhances profit margins. Electronic checks are an effective method to receive payments from customers that do not have credit cards or simply prefer to pay by direct debit from a bank account.

Merchants benefit from integrated reporting and a combined view of all electronic check and credit card payment transactions. Recurring billing functionality is included at no extra charge. All echeck and credit card transaction data is easily downloaded to accounting software such as Quickbooks so account reconciliation is simple and fast.

Benefits of Electronic Checks / Direct Debit

• Increase Sales: Electronic checks are the fastest growing alternative payment option for internet merchants. Electronic checks now comprise 9% of internet sales.
• Decrease Shopping Cart Abandonment: If a credit card is rejected, an electronic check payment option can be presented. Merchants have an opportunity to capture a sale that otherwise would have been lost.
• Reduce Payment Processing Expense: Merchants save money when customers pay by electronic checks rather than credit cards. Electronic check transaction fees are 50% less than credit card transaction fees.
• Increase Cash Flow: Electronic check processing helps ensure that payments are fulfilled. Automatic debits to the customer's account take away payment-delaying tactics and eliminate the wait for a check to arrive by mail.
• Boost Revenues: Electronic check acceptance broadens merchants' customer bases. By increasing customer payment options with electronic checks, merchants generate more sales, increase revenues, and realize higher profits.
• Satisfy Consumer Demand: Consumers expect to have multiple forms of payments offered at check out. If a consumer wants to pay by electronic check, smart merchants will accommodate the buyer and close the sale.
• Lower Administrative Costs: Electronic check ACH processing virtually eliminates preparing and mailing customer invoices. ACH payment processing reduces accounts receivable follow up; bank fees; bad debt; collection; and administrative expenses.