Recurring payments are a growing part of the economy. They allow periodic billing to occur that is easy for merchants to administer as well as convenient for their customers. Once you obtain an authorization from your customer and use our easy, on-line set-up tool, you are set to bill customers automatically.
Benefits of Recurring Payments for Merchants
• Save on invoice processing costs, postage, envelopes, etc.
• No waiting for "checks in the mail"
• More predictable cash flow
• Save on labor costs
• Sensitive payment data stored on secure system
• Reduced risk of human error
Benefits of Recurring Payments for Consumers
• No worrying about paying a bill on time
• Hassle free payment - no writing checks or licking stamps
• Decreased chance of late fees
Charge Card Systems offers an easy to use, web-based interface for entering recurring checks, and as well comprehensive array of processing and reporting options to meet the needs of both small and large service-based businesses. We allow you to have complete control of the timing and frequency of payment by your customer.
The Process For Recurring Checks:
Recurring Debit differs from POS based conversion because a paper check is not available at the point-of-sale for every debit the customer authorizes. The check information and authorization is obtained from the customer at the time of sale. The transaction is then entered using an advanced web interface.
The transaction is transmitted via the Internet to a state-of-the-art verification database where it is evaluated against bank routing number, account, and negative information.
Within seconds a response is sent back to the merchant accepting or declining the payment. The check information is then stored and the transaction deposits are routed to the merchant's account within 48 to 72 hours.
When the next payment anniversary date arrives, the transaction is automatically processed again.
Recurring Check Processing offers many Merchant Benefits
This check conversion process allows merchant's to accept checks and process periodic debits without the check actually being present. The merchant simply records the check data, obtains the EFT authorization and enters the check data - the check conversion process does the rest! Merchant's can now accept & process periodic debits, without having to worry about who pays what and when.
Additional Options For Recurring Checks
Charge Card Systems Recurring Checks Program offers the same electronic check conversion, 24x7 on-line transaction viewing and customized detailed reporting as our Electronic Check Conversion program. Additionally, merchants have complete control over the frequency and timing of the payment, which includes the re-presentment timing.
More sophisticated merchants will want to take advantage of the advanced reporting capabilities of this system, which allows custom reporting delivery methods to automate the entire data collection process. This program minimizes the labor involved in accepting recurring checks and streamlines management of the recurring debit process for the merchant.
To learn more about Charge Card Systems Recurring Checks Program, call us today at 800-878-4100.