Sexier cam pay by echeck
There are fundamental characteristics and differences between paper check, the e Check and other Electronic Funds Transfer (EFT) transactions.e Checks, in 2015, are an important instrument in transitioning businesses and consumers into the world of electronic commerce.
Simply put, an e Check is the electronic version or representation of a paper check.e Checks have the following features: Fancy terminology aside, e Checks are simply a type of online payment where money is electronically withdrawn from the payer’s bank account (usually a checking account), transfered over the ACH network, then deposited into the seller’s (or receiver of) own bank account.
Since merchants pay a smaller fee to process e Check payments than they do to process credit card payments, it’s popular to accept e Check payments for high-cost items such as rent, mortgage or car payments, and high-cost monthly fees such as legal retainers and fitness memberships.e Check, an established payment instrument combining the security, speed and processing efficiency of all-electronic transactions with the familiar and well-developed legal infrastructure and business processes associated with paper checks, is the first and only electronic payment mechanism chosen by the United States Treasury to make high-value payments over the public Internet.As of 2017, e Check is an established and highly utilized payment method online.Removing this workflow saves a lot of time for both payee and processor of the payment. Payee must specifically authorize the transaction either per transaction of for a reoccurring set of transactions.
This is usually done via an Online payment form, via phone, a signed order form, or some other method.
As technology continues to evolve, the FSTC will capitalize on new developments by integrating significant break-through technologies into the echeck’s open architecture.