July 26, 2010
, the only patented provider of Check 21 payment processing is pleased to announce that as of July 2010 it has been approved by The New York State Racing and Wagering Board for our online check processing as a regulated provider. This means now we are the only company able to offer our service to any Off Track Betting Operations that provide wagering services to U.S. clients with U.S. checking accounts.
is an electronic transaction processor and provider of alternative payment solutions that will increase your capabilities to accept payments through the internet and phone by debiting accounts directly from their checking accounts.
requires no physical check from the payor or payee for processing. We generate electronic checks that adhere to the United States Check 21 Law specifications and transfer them for further processing to banks or directly to the check clearing system. iSmartCheck™
does not utilize the ACH network and thus, funds clear much faster.
Check 21 files are approved by the Federal Reserve and we pass the files directly to the Federal Reserve through “FedLine” for immediate Federal Reserve clearing. Our licensor, MyECheck™ also has its own ETI Routing Number and has a number of partner banks with whom they settle payments including Bank of America and JP Morgan Chase.
Fast Statistics on Processing in the USA
1 in 10 Americans have given up or lost credit cards in the last 8 months.
70% of all institutions are now receiving eCheck images. Making eChecks imaging more mainstream.
Revolving Credit (mostly used by credit cards) fell by nearly 20% in November, the largest drop on record. (Federal Reserve)
October 2009, the number of new credit card accounts was down 46%from the same period in 2008. (Equifax)
Merchants adding eChecks experience sales lifts of 8-20% and save money on payment processing.
Make the switch to online checking now. Contact our sales department at firstname.lastname@example.org or at 416.785.6020.