While collecting funding information, an agent obtains authorization to communicate electronically with a consumer.
The agent then sends a request using the system dashboard. A text message or email is sent to the consumer to initiate payment.
Verifies the payment information, and then signs the check digitally on their mobile device with their finger or stylus.
Print the consumers' signed check and deposit at your financial institution as a legally negotiable instrument. (ie; Not a draft item.)
TxtaCheck provides several measures of consumer authentication and verification prior to allowing them to complete a payment.
The information is sent and generated on our SSL encrypted connection so you can rest assured that your consumer's info is safe.
It doesn't matter how your customer signs, but they can sign the digital check request from their phone. This no longer makes it a "draft".
If you want to use your own printer, we can send you the special MICR toner. If you need to purchase a printer from us, we have them ready for you.
Print a check in your office minutes after you receive confirmation that the consumer has signed. EFT can also deliver an Image Replacement Rocument (IRD) to your bank.
What does this mean to you and what can this service do for your business?
We do not require underwriting of any kind when processing through your financial institution. There are no dollar limits or additional processing necessary. Once you print the item, it's a legally negotiable paper check.
Acquiring a digital signature allows you to clear / process the payment as a check instead of through the ACH network. This helps manage your return limits and provide piece of mind.
Our dashboard provides an easy access view for all your printed checks and payments from consumers that gave authorization to debit their account. See everything including: GPS Location, IP address and more
In our recent survey, 100% of our customers who have tried TxtaCheck said they would keep using the service for the forseeable future. There is nothing like this system in the industry and customers love it!
NACHA announced cracking down on old rules and establishing new rules, reducing the acceptable amount of ACH return items a business can have in a month.
Companies near or over the threshold will face an inquiry and possible termination by processing ODFI banks.
Use TxtaCheck to accept check payments from risky consumers, without jeopardizing your NACHA regulated return rate.
The Telemarketers Sales Rule was recently amended by the FTC, banning the use of Remotely Created Checks and other easily fraudulent payment methods.
Banks have followed suit by barring clients deemed high risk, from accepting Remotely Created Check payments.
The FTC in 2016 will be banning Remotely Created Checks, Remotely Created Payment Orders and Cash-to-Cash Money Transfers.
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