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Paylinked's Check 21 offering is a fast, safe, low-cost method of processing check payments. Check 21 helps merchants reduce their chargebacks if offered in addition to credit card, especially in situations with trial offers and negative billing/rebilling aspect to it.
Check 21 transactions are cleared using bank-to-bank image exchange rather than through the restrictive ACH network which is governed by NACHA. Check 21 is an attractive alternative for internet and MOTO merchants to process electronic checks and avoid restrictive ACH rules regarding chargebacks and returns.
All Check 21 transactions clear through the Federal Reserve Banking system.
Check 21 payment processing permits a wide variety of check types to be converted to electronic transactions. These include checks from institutions that do not participate in the ACH network such as credit unions, savings & loans, small banks, brokerages, and checks drawn on credit card accounts.
Benefits of Check 21 for Adult Websites
◦Faster access to money. Get your money faster. Quick settlement translates to increased cash flow access to working capital for your business. Next day settlement is available.
◦Extended file submission time. Check 21 files can be submitted for clearing as late as 8 pm EST compared to 4 pm for ACH files.
◦Decreased fraud risk. Shorter clearing times offer better protection against check fraud.
◦Full online reporting. A vast array of management reports can be compiled quickly.
◦Banking Independence. No new bank accounts are required. Use any financial institution as a depository account for the ultimate in flexibility.
Paylinked's Check 21 Modernizes Check Processing and allows Adult Websites to accept More Payments from the 50% of individuals who do not have a credit card, or have room on their credit card. The PayLinked Check 21 system brings modern technology to check systems, expanding adult and other high risk merchants processing options beyond the limited ACH network. Internet and MOTO merchants discover Check 21 processing is an excellent alternative to ACH and complementary service to Credit Card, for all rebill situations.
Check 21 transactions appear on the buyer’s bank statement in the same place as a paper check transactions. Merchants can display purchase details on the bank statement, making it easy for buyers to remember what was purchased. Compare this with ACH transactions which are displayed only as a line item on the buyer’s bank statement, leading to confusion about the purchase and resulting in higher chargebacks.
Limitations of ACH Check Systems Electronic checks account for up to 20% of internet payment transactions. Yet, merchants offering electronic checks payments for adult or phone orders may have a difficult time complying with the restrictive NACHA regulations regarding chargebacks and returns. If a merchant fails to comply with the repressive rules, an ACH payment processing account may be terminated.
Setting up your Check 21 account for Adult Websites with PayLinked guarantees proven reliable payment processing. Each client receives personalized attention from professionals who are committed to understanding your business and recommending the best solution for your needs. Superb customer service, superior payment processing, and competitive rates assure your complete satisfaction.
For More Information:
sales@paylinked.com
www.paylinked.com
www.check21foradult.com
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