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One of the biggest frustrations for any business is delays in getting paid. The process of getting money from your clients and into your bank account can be arduous and time-consuming. In some cases, the delay prevents business success. The good news is that there are options to make the payment process quicker. One way is the electronic check.
From Old To New
The speed with which you get paid often depends on the method of the transaction. Although we’re now becoming used to instant and secure online payments, there are still plenty of people who prefer the old ways. Although the humble paper check is predicted to become an endangered species in the years to come, there are still people out there who still like it. As with those who clung on to vinyl against the advanced CDs, these people refuse to abandon a method they feel comfortable with.
That’s all very well for them, but for you, it can take several days waiting for the check to arrive through the mail and involves a time-consuming trip to the bank. If you can find a way to speed the process up, you’ll improve your cash flow and ease the pressure on your funds. Hours spent shuttling to and from the bank can now be used to generate more business.
New Payment Processing Technology
The solution lies in new software to convert paper checks to electronic checks. Using the latest payment processing technologies, you can have customers enter the check details electronically, which can then be swiftly processed. It helps you collect payments in a more timely manner and reduce the amount of time you spend chasing bad debts.
Choosing the Right Provider
The trouble is, there are plenty of payment providers, but there is a huge variation in the quality of services on offer. Many providers fall on simple things such as good customer service, clear and concise information, and flexible systems that work with their clients’ requirements in mind. Worse still, many processors lack vital security features. This leaves your consumer’s precious financial data vulnerable to theft and fraud.
There will, therefore, be a premium on those companies that can guarantee a reliable and secure way to make payments. This means more than just being secure – it reassures the public and encourages them to buy with confidence.
Payment Savvy works hard to build our software with the latest technologies. Our specialty is providing custom and compliant payment solutions for high-risk businesses of all sizes. To find out more about the robust product offerings, including electronic check, reach out to our knowledgeable team. We look forward to providing you with the perfect payment!