Merchants are always looking for ways to increase sales. Offering multiple payment options can help extend your product or service reach to millions of consumers. Most business owners consider accepting credit cards but they miss the opportunity to increase sales by accepting echecks. Millions of consumers don't have a credit card, do not have available credit or simply prefer to pay by check. In order to reach these consumers you must accept echecks (Electronic Checks) as a part of your payment processing strategy. Successful merchants always want their customers to be able to pay using the payment method of their choosing.
An echeck service is a payment solution that enables online and traditional merchants to accept and process electronic check payments directly from their Web site's storefront or through the Virtual Terminal. By accepting electronic checks, merchants are able to expand the payment options available to their customers and increase sales. Merchants that utilize an echeck service can take advantage of 24 hours per day, 7 days per week sales opportunities. With the innovation of electronic technology and the cooperation of ACH, an Internet vendor can accept a virtual check via the Internet at a fraction of the cost associated with a credit card, and also have funds available as quickly as a credit card transaction.
Required echeck Features :
- Low processing fees (approximately $ 0.30 cents per transaction)
- Recurring Billing included as a standard feature
- Ability to Add Payment URLs to Electronic Invoices
- Lower Rates than Credit Cards and PayPal
- Multi-Currency Support
- Virtual Terminal
- Impulse sales captures
- Funds deposited directly into business checking account
- Payment Gateway Integration
- CRM Integration (vtiger CRM, SugarCRM)
Your echeck service should include a fully managed eInvoice function. eInvoice is the on-demand invoice management software solution that automates the process of collecting, submitting, tracking and paying of supplier / consumer invoices. Customers can pay invoices by Credit Card or Electronic Check. Merchants should look for a Electronic Invoice and Electronic Invoice Presentment service complete with Payment URLs and integrated CRM payment modules. With eInvoice, you can automate key components of payment processing with other company sales processes.
A final thought … Billing and income collections can be one of the most complicated tasks for any business. Eliminate this complication by utilizing a billing system that is designed specifically for service providers in need of recurring billing support. Choosing the right echeck service will lower your processing costs, help you get paid faster and make your customers happy.