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Copyright © 2009 Secure Payment Systems, Inc. All Rights Reserved.
Electronically Process and Deposit Physical Checks
Web-Based Accounts Receivable Conversion (ARC) / Check 21
Solution
Checks deposited faster
Drastically reduces transaction fees
Sales tool for reselling
Business Opportunities
According to the Federal Reserve, as of
September 11, 2006, approximately 17 percent
of the checks or slightly over 6 million checks a
day, were deposited via Check 21!
Industry Fact
Understanding Check 21
*Magnetic Ink Characters at the bottom of every check
Allows conversion of any type of paper check to Substitute Check or Image Replacement Document (IRD)
It is applicable to ANY type of Check or instrument with a MICR* line
It does not require permission or notification of any kind
expresscheck21SM
Our popular web-based check 21 solution
Designed for businesses who accept consumer and non-consumer checks at their business location
Checks are scanned and electronically deposited in the back-office eliminating time consuming bank visits, saving on multiple register scanners, and reduced NSF fees
Web-based, convenient, secure, and easy to set-up
24/7 online access to retrieve check images and payment status
Highly scalable to support any payment volume, from single users to large payment processing environments
Ability to accelerate check clearing by sending the check items directly to the Federal Reserve
Automatically captures the dollar amount on the check during scanning thereby reducing entry time and errors
Substantial savings on returned item fees
Key Features & Functionality
Secure and easy to set-up (web-based)
Enables acceptance of all types of checks at the point-of-sale
Requires no check scanning equipment at the register
Simplifies and speeds up check handling & processing
Lowers the cost of payment processing
24-48 hour funds availability
Improves response time and accuracy
No more waiting in line at the bank
Promotes better customer service
Faster notification of returned items (3-5 days vs 7-10 days)
Facilitates better access, storage, retrieval, & distribution of checks
Enables consolidation of banking relationships for business locations
Substantial savings on returned items fees
Benefits
Scanners Supported Currently
Digital Check TS - 350
Digital Check TS – 230/65
Magtek Imager
High Volume Digital Check TS – 350- Accepts 100 checks at a time; 60-80 checks per minute- Images both sides of checks in 1 pass; Endorsement
Mid Volume Digital-Check TS – 230/65- Accepts 25 checks at at time; 65 checks per minute- Images both sides in 1 pass; Endorsement
Low Volume Scanners1. Magtek MICRImage- Accepts 1 check at at time; 30 checks per day- Images each side per pass separately; No Endorsement
2. Digital Check CX-30 *NEW**NEW*- Accepts 1 check at at time; 500 checks/day- Images both sides in 1 pass; Endorsement
Digital Check CX-30
Consumer ItemsNon-consumer Items
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expresscheck21 Process
1. The merchant logs on to the expresscheck21 site using a secure login and password and scans the checks to be deposited.
2. The scanned images of the checks are saved on the expresscheck21 site. Once the merchant batches out, these electronic check images are sent for processing.
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Consumers Bank Merchants Bank
expresscheck21 Process Contd…
3. The check writer’s account is debited and the merchant’s bank account is credited. Merchant has funds within 48 business hours* - eliminating a trip to the bank.
4. Files can be saved and uploaded to the merchant’s accounts receivable system.
*24 hour funds availability at a minimal surcharge.
Open your web browser & log on to:
www.securepaymentsystems.com
Click on expresscheck21 Website under “Product Links”
Web Browser
Enter your customer information
in uppercase letters:
- File Code- User Name- Password
Hit ENTER
Customer Login
Welcome Page
You can view important announcements and transaction cut-off times on the welcome page
You can also access the IRD or ARC System on the left to get started
Select IRD System to process all types of U.S. checks (consumer and non-consumer) and ARC System for consumer Checks only
Main Menu
The Main Menu on the IRD / ARC System offers various options including the ability to scan checks, process scanned checks and batch out
Select Scan Checks to begin processing checks
Conclusion
We are Committed to Providing Superior & Affordable ACH and Check Processing Solutions
Easy-to-use solution utilizing a computer, check scanner, & internet access
Accepts all types of checks (consumer & non-consumer)
24-48 hour funds availability
24/7 access to retrieve check images & authorization via secure website
Concise, real time reporting available on-line
Faster notification of returned items (3-5 days vs. 7-10 days)
Substantial savings on returned items fees
Secure Payment Systems10650 Scripps Ranch Blvd. Suite 109
San Diego, CA 92131
Tel: 1.888.313.7842
Fax: 858.549.1323www.securepaymentsystems.com
Interested in a Web Demo? Call us or email: [email protected]
Getting Started