Security and Benifits
Security Issues
You, your staff and your customers should be concerned about the safety of the data and money moving through an electronic process. We are and we are dedicated to providing the highest level of security available.
Our Processing connection is direct to the Federal Reserve.
Few processors are held to such a level of security requirements and stringent audit policy. Most third-party check processors (companies processing checks which are not registered as a Financial Institution) are required to process through an ODFI (Originating Depository Financial Institution) bank. We submit payments directly.
All check information is encrypted and our servers are secured at 128-Bit. You can be assured we are aware of the risks and are actively protecting all information on our system.
Removing Eyes and Hands from the checks
According to the Federal Reserve, Electronic Check Processing is a safer method of moving money , than a paper check. Several studies initiated by the Fed, estimate that paper checks processed through the normal, existing system are handled, on average, 6 times . This is six sets of hands and eyes on every check - and six opportunities for errors or fraud. With an electronic process, the number of times the check is handled is cut to one (at the most) and the information and the money is moved electronically and automatically.
"But I don't give my checking account information out."
Many consumers are hesitant to give their checking account information over the telephone or the internet. What they fail to realize, is that they do send that information EVERY TIME THEY MAIL A CHECK . We only need the information on the check to initiate a transaction. By using an electronic process, their information is actually safer and seen by fewer people. (See above) If a particular customer is still reluctant, there is no reason not to have them continue to mail in a paper check. The system we offer does not exclude the traditional method of paper checks or force a merchant to change the banking relationships currently in place. We simply offer an alternative which is cheaper and faster and cuts down on paperwork.
If you have concerns or comments, please contact us directly. email Question
