International and US payment processors understand that additional payment options at checkout result in more orders for merchants using the processing platform. The more ways customers have to pay, the more sales are made.
The US ecommerce market will hit $434 billion in sales within the next 2 years
. Merchants throughout the world want access to US buyers. And depend upon their payment processors to help acquire more orders from US customers.
How can processors drive more transaction volume while helping their merchants get more sales? By providing the payment options preferred by US buyers.
Echecks are second only to cards as the preferred method of payment by US consumers. Over 30% of internet purchases
are made with alternative payments such as echecks. In addition, echecks have substantially lower risk of fraud than cards
Benefits of ECheck Payments
- Obtain orders from buyers that don't have cards or are maxed out on cards.
- Get sales from buyers that prefer to pay with an electronic check rather than a card
- Alternative to card declines. If a card transaction declines, offering an echeck payment option can rescue the sale
- E checks have far fewer chargebacks and returns than cards.
Integrating eChecks with Processing Platforms
Integration to your payment processing platform is easily accomplished with an API. All reporting and management functions are available to your merchants when logging on to your system.
Merchants can accept checks online. And accept check by phone, mail, and fax (MOTO) orders by entering transactions in a virtual terminal. Batch uploads to a secure FTP site are also available.
Electronic check processing is available for businesses in all industries, including high risk merchants.
eChecks on the Checkout Page
Electronic checks are a familiar method of payment for US consumers. At checkout, buyers select the “pay with echeck” option. The customer enters payment data information, including name, address, and account information, and submits the transaction for payment.
Electronic check verification is available, which gives you the ability to confirm account information prior to sending transactions for processing. Check verification keeps returns low, saving you money on processing, while protecting the electronic check processor accounts.
For additional security, identity verification can be provided verify the identity of customers. Digital signatures can be used one to verify the identity of customers. These options are often used by high risk merchants or high ticket merchants.
Electronic checks are one of the best ways for international merchants to get more orders from US buyers. Helping your merchants boost sales while increasing profits.
Are you a payment processor interested in adding echecks to your platform?
Contact firstname.lastname@example.org today