Business owners increasingly understand that the days of using physical paper checks are ending. In a time when businesses are going paperless, the financial impact has been extremely positive. Plus, the easy availability of high-risk eCheck processing services makes this an option for any business, including businesses that are unable to accept credit cards.
1. They’re secure
Because they are paperless, they can be encrypted, which makes them far more difficult to intercept or falsify, as compared with paper checks. And because they can be accepted instantly, there are no more “the check is in the mail” claims that may turn out not to be true.
2. Fewer chargebacks
eCheck processing services drastically reduce the likelihood of chargebacks or similar disputes. That’s because these eCheck services are very difficult to reverse once they are deposited, just like paper checks.
3. It is available to more customers
Some customers can’t pay with a credit card, for one reason or another. For example, they may already be at their limit for the month, or they may not have a credit card. And some customers simply prefer not to use credit cards. Giving more options to pay means there is a greater chance that a business will accept the method preferred by any given customer. If a customer wants to pay you, then for goodness sake, let them! And that means using the payment method that the customer wants, not the method that the business selects for them.