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§Merchant gets approval on Eclipse, Linkpoint AIO or Hypercom 5700.
§Consumer signs receipt, and leaves store with voided check.
§Merchant batches out similar to credit cards.
§Merchant gets funded within 48 bus. hours.
§Merchant does not pay check fees, and never knows of returned checks.
§Merchant gets approval on all deployed terminals except wireless. Writes approval # and ID on check.
§Merchant makes sure that check has been bank imprinted and has address and phone #.
§Merchant deposits check in bank as normal.
§Any returned check has 30 days from the date of auth to forward to TeleCheck for payment….TeleCheck mails payment within 7 days back to merchant.
4 Roads to a TeleCheck Sale
§Increased Revenue/Profit
Many merchants use TeleCheck to take checks they wouldn’t normally take;
Out of state, high $ amount, low check #
Great question to ask;
“Mr. Merchant, do you refuse any checks at the point of sale? If so, how would you like to take these transactions and have them funded just like a credit card?”
§Speed/Ease at Point of Sale
TeleCheck makes it easier for cashiers and consumers at the point of sale
- often no additional ID
- Quicker than getting manager appro-
val or contacting bank
- ECA eliminates shift end accounting
- Much easier to train cashiers on
procedures
§Lower Bank Fee (for ECA only)
A merchant that that takes 100 checks a month and receives 1 bad check will spend about $45 monthly on bank fees.($.15 deposit fee and $15 return check fee – 100 x $.15 = $15 and $15 x 2 deposits = $30)
§Loss Prevention
Not only does this eliminate the financial loss on the check
TeleCheck eliminates return check fees with ECA.
Eliminates the hassles of doing collection work
Terminal Deals
•300 41st Street, Suite 201A
•Toll free 1-800-676-4030
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