e-ValuCheck will reduce the cost of payment processing
e-ValuCheck allows e-merchants to accept paper check payments from online consumers over the Internet. The authorization process for these checks is an online real-time process similar to credit card payment processing. However, e-ValuCheck offers significant operational benefits over credit card payments and is a cheaper payment option as well. e-ValuCheck can eliminate all fraud and charge-backs for online merchants with our optional 3rd party check guarantee programs.
How e-ValuCheck Works
e-ValuCheck Process
The on-line customer makes a purchase from an on-line e-merchant via the Internet. After completing the required billing/shipping data input in the e-merchant's shopping cart, the customer selects the method of payment, credit card or check. In our system she selects the "Pay by Check for Immediate Shipment" option. The customer selects this option by clicking on our check logo within the e-merchant's shopping cart.
The hyper-link from this logo provides a seamless transfer to the e-ValuCheck web server. With this link the e-merchant passes the billing information it has collected from the on-line customer, to include name, address, phone number, e-mail address, etc. e-ValuCheck will then ask for the customer's driver's license number, check number and checking account number from the bottom of their check. e-ValuCheck will then communicate with a third party check guarantee service who will approve / disapprove the check transaction. When the transaction is approved, the customer provides a final authorization for this transaction.
The merchant will immediately ship the product to the on-line customer as the check transaction is 100% guaranteed by the third party service provider.
e-ValuCheck will transmit the check print information to the e-merchant's bank for the printing and deposit of the check within the operations center of the bank. This step will eliminate all handling/processing by the e-merchant for the front end of the check payment processing and deposit procedure.
The e-merchant's bank will provide deposit information to the e-merchant via the bank's online balance reporting product.
Any return items to the e-merchant will be processed/charged against the account of the check guarantee provider. This step will eliminate all handling/processing by the e-merchant for the back end of the check payment procedure.
See demonstration of "e-ValuCheck for e-Commerce"