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PCI Payment Solutions Virtual Check Services™
Safe and simple for consumers and businesses, PCI Payment Electronic Check Services moves payments electronically from your customer’s checking account to your PCI Payment Merchant Account. This can be done by both Internet merchants and MO/TO merchants. This differs from POS check conversion /guarantee and check lockbox services (check conversion info).

PCI Payment Electronic Check Services is a true Automated Clearing House (ACH) product that requires no double entry or back-end check printing. It works like a paper check, without the additional costs and time delays. PCI Payment Electronic Check Services processes payments and displays real-time reports from any Internet enabled PC – providing convenient access away from the office.
Why Use PCI Payment Solutions Electronic Check Services?
  • Consumers without credit cards can use virtual checks to purchase goods and services via the Internet or MO/TO.
  • Checks are the most popular form of payment for both b2b and b2c.
  • They are a secure payment alternative to credit cards.
  • Virtual Check, in conjunction with the PCI Payment Solutions Gateway, can be integrated into your accounts receivable system to simplify your reconciliation process.
  • The reject period is shorter for checks than credit cards.
  • Recurring virtual check payments lower collection costs for businesses.
System Features and Benefits
  • More methods to accept payments - phone, mail, Internet, fax or walk-in
  • Process checks faster while lowering processing cost
  • Reduce or eliminate invoicing costs
  • Easy to set up and use - works with your existing bank account
  • Real-time payment processing from any Internet enabled PC
  • Funds available in as little as 72 hours and no more trips to the bank
  • Reduces Internet fraud through real-time customer identification by Equifax
  • Customers do not need to “register” to use this payment option
  • Location independent - process payments and access reports anytime, anywhere
Consumer Initiated Method (used by Internet merchants)
  • Consumer enters data via website
  • Transaction confirmation emailed
  • Federal Reserve directs the debit and credit process
  • Money moves from consumer account to merchant account

Federal Reserve Rules Governing Consumer Initiated Transactions

  • Consumers can only initiate check payments from their own personal or business bank accounts – no third party initiators!
  • Consumer identity must be authenticated.
  • Since 2002, any Internet merchant not properly authenticating consumers for non-recurring Web transactions will be liable in class action lawsuits under Federal Regulation E. PCI Payment Electronic Check Services outperforms other virtual check products by authenticating consumers through unique information (such as a social security number, date of birth, or driver’s license number) and verifying the information provided against Equifax, the leading national information service and an authority on consumer credit issues.
Merchant Initiated Method (used by MO/TO merchants)
  • Merchant receives order
  • Merchant enters data
  • On-screen transaction confirmation
  • Federal Reserve directs the debit and credit process
  • Money moves from consumer account to merchant account

Federal Reserve Rules Governing Merchant Initiated Transactions

  • Merchants must have written authorization from the customer to debit the customer’s bank account, or
  • Customer has given the merchant oral authorization to debit his/her checking account and has either initiated the telephone call or has an existing relationship with the merchant.

Copyright 2010 PCI Payment Solutions. PCI Payment Solutions is a registered ISO of BMO Harris N.A.