Inc. All rights reserved. The guarantee covers fraudulent, dishonored, and NSF transactions, meaning that if a check is returned, it is warranted and funds will be deposited into the merchant s account. In this scenario, the merchant accesses Equifax database services, and is provided information that quantifies the risk associated with the customer. If the check is returned NSF, however, an automated collections program is provided within eCheck Secure.
Checks offer more protection to the merchant than credit cards.
In a guarantee environment, chargebacks for fraud are completely eliminated. With the funds in the bank, the merchant also has more control over returns. If you are not accepting checks now, you broaden your potential online shopping market by 80 million people those who have checking accounts but not credit cards. You also provide a convenience to those individuals who simply prefer to pay by check. If you do offer checks via mail, eCheck Secure will help you minimize open orders waiting for mailed-in payments that may never arrive.