Reduce trips to the bank
Maxx Merchants Electronic Check Processing is a solution that processes and deposits all types of paper items into electronic transactions or substitute checks, better known as IRD (Image Replacement Document) , all through a single point of entry system. Our system is designed for retailers and businesses to accept both consumer and non-consumer checks so they can be processed in the back-office.
With Maxx Merchants Electronic Check Processing you can continue to accept your customer's paper check payments, either at your business location or via the U.S. mail. You can then electronically process and deposit checks without having to go to your bank. Scan, process and deposit all types of paper items at your business location using a check scanner. Captured images and data are then transmitted for clearing and electronically deposited into your bank account.
It's Simple. Everything is done in your business environment, no bank visits or deposit slips. All you need is internet access, one of our desktop scanners, and a personal computer. Run the checks through the scanner and watch each paper check convert into an electronic image, and automatically into an electronic deposit. Our technology seamlessly captures and populates accurate check images and MICR data information into the data fields, alleviating manual data entry work for you.
The Process:
- Merchant receives checks from customers
- In the merchant's back office, utilizing a scanner and web-based Maxx Merchants Electronic Check Processing technology, the checks are scanned and sent electronically to Secure Payment Systems for processing
- Maxx Merchants Electronic Check Processing distinguishes between non-consumer checks (corporate, payroll checks, etc. which are processed using image exchange through the Federal Reserve) and consumer checks (processed via the ACH network)
- Merchant receives funds from Secure Payment Systems
Features:
- Check Images and Data 24/7 access to retrieve your check images and payment status
- Flexibility and Scalability Highly scalable to support any payment volume, from small single users to large payment processing environments
- Data Security All data transmission is performed via a secure web-based system
- Direct2FED Line Ability to accelerate check clearing. Secure Payment Systems sends your transit check items directly to the Federal Reserve
- CAR / LAR Technology Automated method to capture the dollar amount on the check and reduce entry time and errors
Benefits:
- Secure and easy to set-up (web-based)
- Enables acceptance of all types of checks at the point-of-sale
- Requires no check scanning equipment at the register
- Simplifies and speeds up check handling & processing
- Lowers the cost of payment processing
- 24-48 hour funds availability*
- Improves response time and accuracy
- No more waiting in line at the bank
- Promotes better customer service
- Faster notification of returned items (3-5 days vs 7-10 days in paper form)
- Facilitates better access, storage, retrieval, & distribution of checks
- Enables consolidation of banking relationships for business locations
- Substantial savings on returned items fees
- Banks can accept images from us and settle directly with their merchants**
* 24 hour funds availability at a minimal surcharge
** A small transaction fee reduction may apply