PAYMENT CHEK

Check Acceptance Companies • Payment Processors

The PAYMENT CHEK service is an unparalleled check acceptance solution that provides online, real-time access to positive and negative account information as well as check-level status. Identifying items at the point-of-sale with a high likelihood of returning unpaid, this service helps answer the following questions:

• Does the check writer’s account exist?
• Is the account in a closed, NSF or other high-risk status?
• Has a stop-payment been placed on an item?

For MICR line inquiries on physical and virtual items, users are notified of:

The Competitive Difference

Information contributed to and shared by Early Warning Services is governed by a well-defined set of Operating Rules. These Rules are approved by financial institutions and help ensure the highest data integrity. The end result is a risk management service that offers the most current and accurate data to help combat fraud, increase sales, and close the gap in risk exposure.

Benefits

• Leverages existing POS devices to read MICR
• Accesses the most current status information on accounts
• Verifies account status in real-time
• Aids decisions to accept or decline with timely responses
• Enables preventative action before a loss is incurred
• Decreases back office collection costs
• Enhances existing risk management processes

For more information on the PAYMENT CHEK service, please Contact Us.