What is an eCheck?
An eCheck is the electronic form of the paper check. With an eCheck, money is electronically withdrawn from the customer’s account, transferred over the ACH network, and deposited into the merchant’s account. eCheck Payment Processing is completed with the help of the ACH network.
Writing an eCheck is familiar and straightforward. You primarily need to have your bank account number and your routing number. Using an eCheck is not a challenging task for merchants and customers and is a valuable addition to the range of payment options.
When to use an eCheck
Nowadays, the customer looks for different ways to pay for goods and services. Paper checks remain among the most popular payment methods, even for businesses.
Payers should consider using eChecks in the following circumstances:
To pay a large amount
While transferring a large amount from one account to another, a check is usually the cheapest option. It is cost-effective than other payment methods that may charge a percentage of transferred amounts as a transaction fee.
When you usually pay using checks
eChecks are the best option for the merchants, prefer to pay using checks. They can easily reduce human error and the use of unnecessary human resources.
When you make regular payments
Making regular payment by check is agony. Remembering date is a hectic process for everyone. So rather than signing checks repeatedly, you should go for a reliable payment process with automated payment transfer, and you only need to fill an online form once.
When you don’t need to make an immediate delivery
eCheck is faster than physical checks. Cash transfer made using an online payment platform is, of course, immediate and lightning-fast. An eCheck might mean a delay for a day or two, which is fine for most online purchases.
When you are paying the transaction fee
eChecks are the cheapest and the most convenient option for both payee and payer in terms of the transaction fee.
When you want to make payment procedure as easy as possible for your customer
It might be possible that merchants will have some customers who don’t have credit cards or are hesitant to use them online. Accepting an eCheck and all your other payment options makes it easier for the customers to pay the bill or buy your services.
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Benefits of using eChecks
- Low cost – for both customers and merchants.
- High speed – eChecks Payment Processing is comparatively fast in comparison to physical checks. It cut the extra time required to deposit a physical check and processing time.
- Greater Accuracy – eCheck reduces the risks of mistakes during processing in comparison to traditional checks.
- Environment friendly – It saves natural resources.
- Greater convenience – eChecks are available to anyone and represent a familiar way to settle payments.
How e-check processing works
The processing of eCheck is quite similar to the paper checks but in a faster way. As the process is offered out online, paper and time are saved while transacting using eChecks.
Listed below are the steps included in the processing of an eCheck:
Authorization request: The merchants need to get authorization from the customer to make the transaction.
Setting up the payment: Payment information is filled into the online payment processing software.
Finalizing the payment: Once the all relevant information’s are entered, and the details are submitted. It starts the ACH transaction process.
Payment approval and fund transfer: The payment is debited from the customer’s account and credited into the merchant’s account. It occurs automatically, and a payment receipt is also sent to the customer.
A business that should use eCheck Payment Processing
The chances of payment failure are less with eChecks in comparison to credit card payments. eCheck payment allows a business to keep payments coming in as account number, do not change as often as credit card numbers.
Types of businesses who should use eCheck payments
- Subscription-based business: A business, who deals in subscription-based product or accept recurring payments. eCheck helps them to get paid automatically on a scheduled date.
- The business that deals with large payments: If you deal in large amount and looking for payment processing with low transaction fees. eCheck Payment Processing is the correct choice for you.
It is not like you cannot make small payments using eCheck Payment Processing. Those are also as convenient and risk-free as large payments.
Security used with eCheck payments
eCheck provides you with more safety in comparison to paper checks.
The primary component for eCheck Payment Processing is:
- Public key cryptography
- Digital signature
- Certificates authority
How can I get eCheck Payment Processing for my business?
This is one of the top leading payment gateway service providers in the global market. It offers eCheck Payment Processing service to all type of industries, whether it is low-risk or high-risk. Merchants can easily get eCheck solution for their online business.
Merchants get the option to collect the payment their payment conveniently with eCheck processing. Your customer can easily make payment through eCheck filling a form at your payment page.
We helps merchants in the integration of payment gateway with their website. Our 2D and the 3D secure payment gateway allows merchants in processing their payouts securely.
Benefits of using eCheck Payment Processing with High-Risk Gateways
- Lower rates
- Fast approval
- High volume eCheck processing
- ACH eCheck verification
- E-commerce merchant account
- eCheck Payment Processing for MOTO
- Bulk processing
- Recurring billing
- Robust cloud reporting
- PCI-DSS Level 1 compliance
- Chargeback management
- 24*7 customer support
Alternative Payment Methods
We allows you to accept your payout from your customers in several methods like ACH, E-check, credit card, debit card, mobile payment, and others.
Diverse currency payment option with high Risk Gateways
Allowing your customers to pay in their suitable currency makes your business trustworthy and reliable. We are offering multicurrency payment option with its Fantasy Sports Merchant Account and allows your customers to pay in their desired cash.
A secure payment processing service
With its Merchant Account, High Risk Gateways provides a highly secure payment gateway. It compliance PCI-DSS level I certified security standard with SSL encryption and API integration. These features allow you to give a smooth and safe payment experience to your customers. It saves your customers data from the theft.
To get more information or to opt for our eCheck Payment Processing, contact us right away. Visit High Risk Gateway Solutions for Credit Card Processing Merchant Account. Apply Now Today