The more payment alternatives an online merchant offers buyers, the greater opportunity for increased sales. Credit cards still remain the most popular form of payments to eCommerce merchants for their speed and safety. But, electronic checks, both ACH and Check 21 or eChecks are the fastest growing additional payment option for internet merchants. Ecommerce merchants of all types, including high risk merchants, can establish a merchant account for electronic checks. A merchant must be located in the US or Canada for an electronic checks merchant account or eCheck merchant account to be approved.

The vast majority of electronic check merchant accounts include the ability to do multi-channel payment processing. Merchants can accept electronic checks on the web, by phone, fax, or mail. Adding electronic checks to a website is easy. Integration is accomplished using an application program interface (API) and takes only a few hours to implement and test.

Internet Retailers Electronic Checks

Electronic checks are first choice for the next payment option medium and large online sellers would be wise to add eChecks to their payment options if they have not already done so.

Online merchants accepting electronic checks as a payment option report that 4-9% of their sales come from electronic checks, with at least half of that representing sales that would have otherwise lost.

26% of households do not have a credit card and 49% of consumers with credit cards are within 6% of their credit limit. Check21 can make the difference between making that sale and losing the customer to a competitor that offers to accept electronic check payments.

Over 200 million consumers write checks while only 80 million carry credit cards. 84% use personal checks as their primary method of payment.

Electronic checks are the most popular alternative payment option.

Buyers are comfortable using electronic checks since many already pay bills online.

Electronic Checks are Safe & Secure

An electronic check is a debit payment instrument that is widely accepted and used by businesses, governments, and consumers as payment for virtually any form of commerce. Electronic checks are among the most secure payment methods and are designed to utilize state of the art security techniques. Electronic checks provide the best of both paper and electronic laws and regulations to merchants

Electronic checks are based on check law and have the same characteristics of paper checks but in all-electronic form. Electronic checks provide consumers the protections and rights from Regulation E, which limits liability and establishes dispute resolution timeframes. Coupling electronic checks security with a sound legal structure reduces the exposure and risk of loss to merchants. Uniform laws governing checks have been established in the United States for many years and include: Uniform Commercial Code (UCC); Regulation CC; Regulation J; Federal Reserve Bank Operating Circulars.