What is it?When customers are paying for merchandise and/or services by check, whether at your location or received by mail, the check is accepted in your usual manner and then later scanned with an imager and electronically deposited via Remote Deposit. You may also receive checks by phone or via the internet which are electronically deposited/batched similar to a credit card process via Direct Payment. There is no need for an additional signature or additional equipment at the point of sale. This will also enable you to consolidate deposits from multiple locations.
You may also want to debit your customers electronically either for a one-time payment or for recurring payments via Direct Payment. With our process you simply enter the payer information once including the amount and frequency of the payment. The rest happens automatically saving time and money. No more “the check is in the mail.”
These back office functions save time and money while accelerating your cash flow.
Read more from the following if you would like to know how your business can benefit from our BOB program:
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