Overview:
e-ValuCheck is an inexpensive online check payment system allowing your customers to pay for products & services via paper check. This system makes available to you a customer base of 80 million Americans that do not have a credit card, and the 40 million who have no available credit left on their cards. e-ValuCheck is the easiest payment system available today. The merchant never has to worry about handling the checks, making deposits, or additional bank fees and it is easier and less expensive than credit cards.

Merchant Benefits:

e-ValuCheck allows you to easily accept checks for payment of goods and services, including over 120 million Americans that do not have credit cards or credit cards with available credit.

    Enable your customers to pay with the most popular payment method used in the U.S. today, the check!
    Save hundreds or thousands of dollars in credit card processing fees!
    Increase sales significantly by accepting check payments online.
    Checks are automatically deposited directly into your existing checking account. Merchants will never have to see, touch or deposit a single check.
    Payers receive their cancelled paper checks with their monthly bank statement.
    Merchants can be processing checks online within 48 hours from registration!
    Open online sales market to the 15 to 21 year old target market group.
    Eliminate security concerns associated with storage of consumer financial data.

Credit Card Costs:
Every online merchant knows that the cost of processing credit card payments is expensive, cumbersome and painful.

Currently 98% of all online consumer e-commerce purchases are made via credit cards. The credit card was not created for this "cardholder not present" type of application. For this reason fraud is rampant for online purchases and all e-merchants experience a significant problem with charge-back issues. In 2001, VISA reported that less than 1% of their credit card transactions occurred over the internet, but that these online transactions accounted for over 50% of their disputed charges.

The interchange / discount rate on these payments is 2.5% or higher, depending upon SIC and experience, and the charge back / fraud rate is between 1% and 5% on average. The Wall Street Journal has reported e-merchants experiencing charge back loss rates as high as 15%. There are also the transaction fees for the processor and the bank, as well as the cost of charge back investigation reports. In total, most e-commerce merchants are experiencing payment settlement costs of 4% to 8% of total gross sales. This is a significant cost which is only going to escalate as credit card fraud escalates.

e-ValuCheck will reduce the cost of payment processing