Echeck Payment Processing

Echeck Payment Processing Services For High Risk Merchant Account

Any business in today's digital era is made aware of the ability to process electronic payments. Credit cards are not the preferred method of payment for many companies and customers between security concerns and higher processing fees.

What is echeck Payment Processing service?

Echeck is also referred to as substitute check.  Echeck software converts regular checks into an electronic check form. The same value as the original control exists for this electronic type of paper check. Before the echeck is processed, the merchant must have written or documented approval by the payer. The ACH network must be used to clear the electronic check.


How to buy using echeck payment processing?

Customers submit information about their account on the merchant's website to purchase with the echeck. Many companies prefer to accept telephone checks. The merchant must be able to take orders via the phone for this purpose. This requires a virtual echeck terminal for the merchant. In addition, customers can order using the payment link provided by the merchant. Through the link on the payment page of an email, merchants can send the payment. Few industries that require repetitive transactions. Many processors of credit cards do not permit subscription sales.

Most echeck processors enable clients to make subscription purchases and recurrent services. In certain industries, such as online dating, pharmaceuticals, PC repair, dispensaries and videos, customers can buy eChecks again and again.


Processing fees for echeck

The echeck payment processing fees vary according to different factors. For high-risk industries, the rates are generally as low as 4%-5%.

The echeck processing fees may range to up to 10 percent for merchants from high-risk industries. 

Additionally, the trader's location also plays a critical role in setting the rate. Local low-risk businesses may have rates below 3%. The price structure is influenced by several factors;

  • Credit Risk: Stable companies are getting higher rates.
  • Type of industry: High fees are paid to traders of high-return industries.
  • Ticket size: Low ticket traders pay low fees for services offered.
  • Commercial location: US-based traders pay low fees. On each check transaction, international merchants pay higher fees.

Payment option for echeck

Four payment options are available. Each one has its own unique benefits. Let's talk about all four.

Payments in front of you: This option allows the trader to accept payments in-store. The client may provide the retailer with the required details. A Virtual Terminal can then be used to initiate the transaction.

Web check: This is the way people make online payments for credit cards. You can visit the website of merchants. Choose the services and products. Into the shopping cart add all selected items and begin checkout. The client fills in the account details on the checkout page.

E-mail payment: The dealer may send the customer a payment link. To make payments online, the customer can click on the link. This is very useful if the client wishes to receive a documented order proof.

Pay by telephone: customers can call and share details with the trader's support number. You can submit the transaction information to the virtual terminal. Many orders can be accepted by the merchant and submitted to the MOTO board.


Companies for e check multiple processing

EskayPay  offers Offshore high-risk merchant accounts and works with multiple processing companies. Our agreements are non exclusive to the processing companies. It offers our customers huge advantages. We select the best processor that can provide your company with the most reliable services.

EskayPay will be glad to receive your application and the KYC documents for further proceedings of echeck payments.

Please send us your six-month history, if you already accept ACH or echeck payments. The history of processing can help us to get better rates. Multiple echeck processing companies have different advantages. Traders can accept higher monthly sales volumes. Businesses can reduce their return ratio by using numerous solutions. If one processing option has a high rate of return, the trader can switch to another.


Advantages of echeck payment processing

Easy to instal. Easy to set up. The checking gateway to payment processing is very easy to set up. Mostly in two business days, traders get a cheque-gateway. It may take many times for credit card processing companies to approve the account.

Save the merchant and the purchaser time. Customers and sellers save a great deal of time with electronic controls. You do not go to the banks to deposit checks on the physical paper. The digital copy of the check is available to the network processing.

Online checking reduces bad check percentage. If the check involves a paper check, it cannot be confirmed that the fund is available. Merchants can check availability of funds with modern electronic check payment gates. Before depositing the transaction, you can check availability of funds. It helps companies to reduce the NSF percentage and poor controls.


Echeck payment processing services for high risk merchant account

Our team assists companies in obtaining reliable check services in different high-risk industries. It is easy to apply for checking services. You must submit a detailed request for a merchant account. This application helps to verify that the service provider is exposed to risk. You can receive echeck services after a detailed analysis of the application and KYC. Low and high-risk dealers are eligible for virtual terminals. The merchants can accept check transactions via the phone with Echeck virtual terminals. Different high risk industries use echeck services already

High risk Commercials are subject to an echeck processing high transaction fee. International merchants account may have to agree to a week's delay. International retailers receive settlements with a delay of 1 week in their account. 

The merchants need to have a ready website to improve the chances of getting approval. The rejection of the merchant's account request may result in an incomplete site. High-risk merchants should examine the services on the website in detail. Failure to provide information about the product and services could lead to refusal. The processor requirements must be followed in order to obtain authorisation for the echeck services site.



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