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Take Payment Processing to the Next Level with EZPaymentSM
Every month consumers mail payments for utility bills, rent, insurance premiums, and home services that amount to nearly 20 billion personal checks annually. If your company is on the receiving end of all of these payments, you know the importance of getting them posted and into your bank as soon as possible. Now, with EZCheck's accounts receivable conversion service, EZPaymentSM, you can do just that. By taking advantage of this electronic check technology you will not only improve efficiency but increase your bottom line as well.
EZPayment streamlines operations by capturing and then converting personal check payments into cash that is directly deposited into your business account. Whether you receive payments at your business or at lockbox locations, you can take advantage of this valuable service that will improve the availability of funds, lower deposit and return check fees, and increase collection rates. This combination of benefits will lead to significant cost savings for your business.
The Advantages Are Clear
Because payments are processed using electronic funds transfer technology through the ACH network, your business will realize substantial benefits with EZPayment.
- Improves the availability of funds on check deposits by as much as three business days
- Decreases or eliminates check deposit and return check fees
- Enhances collection of non-sufficient funds checks
- Reduces risk by providing return information more quickly
- Reduces or eliminates the need for multiple deposit and sweep accounts
- Lowers administrative costs associated with preparing deposit slips, encoding and transporting checks and reconciling deposit transactions
How It Works
EZPayment allows you to digitally capture check payments and remittance coupons using proprietary software and a MICR imager linked to your PC. Once captured, payment transaction data and images can be reviewed, corrected and balanced before being securely transmitted to EZCheck for payment processing. Upon receipt, EZCheck manages the process through the ACH Network and settles the funds directly into your businesses account within forty-eight hours.
The process is simple and comes equipped with online reporting tools that enable you to effectively manage your business. Online reporting allows you to view transactions and funding reports, research archived images for reconciliation or retrieve vital information to augment customer service or collection efforts.
System Requirements
Implementation is made easy through a Windows-based application that can be loaded right on to your existing PC. PC requirements: Pentium II or compatible, 500 MHz or higher; 5 Gb of free hard drive; Windows 98 or higher and Microsoft Internet Explorer 5.0 or higher. The addition of a check imager (EZCheck recommends the EC6000 Check Imager from RDM Corporation) linked to your PC completes the necessary system requirements to start enjoying the benefits of EZCheck's EZPayment.
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