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| Paynet Systems offers an easy to use, Web based interface for entering checks, and as well comprehensive array of processing and reporting options to meet the needs of both small and large service based businesses. We allow Merchant's complete control of the timing and frequency of payment by the customer. |
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| The Process |
| Recurring Debit differs from POS based conversion because a paper check is not available at the point-of-sale for every debit the customer authorizes. The check information and authorization is obtained from the customer at the time of sale. The transaction is then entered using an advanced web interface. The transaction is transmitted via the Internet to a state-of-the-art verification database where it is evaluated against bank routing number, account, and negative information. Within seconds a response is sent back to the merchant accepting or declining the payment. The check information is then stored and the transaction deposits are routed to the merchant's account within 48 to 72 hours. When the next payment anniversary date arrives, the transaction is automatically processed again. |
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| Merchant Benefits |
| This check conversion process allows merchant to accept checks and process periodic debits without the check actually being present. The merchant simply records the check data, obtains the EFT authorization and enters the check data - the check conversion process does the rest! Merchant's can now accept & process periodic debits, without having to worry about who pays what and when. |
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| Additional Options |
This program offers the same electronic check conversion, 24x7 on-line transaction viewing and customized detailed reporting as our Electronic Check Conversion program. Additionally, merchant's have complete control over the frequency and timing of the payment, with includes the representment timing.
More sophisticated merchants will want to take advantage of the advanced reporting capabilities of this system, which allows custom reporting delivery methods to automate the entire data collection process. This program minimizes the labor involved in accepting checks and streamlines management of the recurring debit process for the merchant. |
| To Enroll Call 800-809-1989 |
| CHECK ACCEPTANCE AND RECOVERY SERVICES |
| Recurring Check Services |
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| DESCRIPTION |
Paynet Systems offers an easy to use, Web based interface for entering checks, and as well comprehensive array of processing and reporting options to meet the needs of both small and large service based businesses. We allow Merchant's complete control of the timing and frequency of payment by the customer.
$199.00 Set-Up & Training Fee. |
| CHARGE PER CHECK |
| $ .95 cents per check |
| STATEMENT FEE |
| $10.00 monthly statement fee |
| MONTHLY CHECK MINIMUM |
| $20.00 monthly minimum |
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Apply Online or Call 1-800-809-1989 |
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