MERCHANT STRONGHOLD
Accept Payment , Anytime , Anywhere With Merchant Stronghold’s Merchant Account Services.
INTRODUCTION ABOUT ECHECK PAYMENT PROCESSING If you have been executing a business for some time, the chances are high that a client has asked for 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 (who starts a business alone), it is compulsory to have at least little grasp of 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 e-check Processing?
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 echeck processing, through which payments made by echecks can be pulled back straightforwardly from the customer’s bank account.
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 Approved
Payment is Completed
Deposited Funds into the merchant’s bank account
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.
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.
It takes a few days in the wake of starting the transaction for the check to clear and the money to be deposited into the merchant’s record.
RECURRING PAYMENTS WITH ECHECKS Credit Cards and Debit cards may be the most widely recognized approach to make an online payment, yet with regards to recurring transactions, echecks make the sense. Thus, ACH billing is progressively picking up footing among property managers as a reliable approach to gather month to month rent. Businesses that charge clients settled expenses at each finish of a specified term should, therefore, embrace echecks as an essential payment technique.
Contact Information: Address: 10300 49th Street N Suite 427 Clearwater, FL 33762 Contact No: +1 (888) 622-6875 Fax Number: +1 (844) 465-4723 Email: info@merchantstronghold.com Website: https://www.merchantstronghold.com