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Case Study Three: eChecks Equal Quick, Secure Payment Transactions

Marlin T. Roche, small business owner

The payment landscape is always changing. Though paying with mobile apps and credit cards have overtaken cash, some small businesses still want to provide customers with other payment solutions.

The Challenge

As most of the world goes cashless and paperless, Marlin T. Roche, a small business owner, found looking for a quality eCheck processor daunting and viewed it as a slow, outdated payment solution. The business wanted near instant transactions that did not require the hassle of dealing with paper checks. However, many of the business’ clients preferred the security of paper checks, so he knew the business need to strike a balance by figuring something out. The business could not afford to lose customers because it no longer wanted to accept checks. This is when the business turned to (EMB).

The Solution

To keep clients happy, the small business knew it needed to use a solution that its clients would feel secure using while not compromising its own convenience and efficiency. The business found electronic check processing, which is the process of converting a customer’s paper check into an electronic transfer, the best way to move forward.

Since the transfer is made using the Federal Reserve Bank’s ACH or Automated Clearing House System, the small business felt its customers would feel safe paying that way. eChecks allow funds to be deposited from a customer’s bank account into a business’ bank account within a few hours, and after the merchant’s account is credited, the payment gets documented on the customer’s bank statement with a check number, amount, and the billing company name. It can be a fast, last expensive, and more secure payment option to credit cards.

After careful consideration of its needs, the small business moved forward with EMB, which offered plenty of knowledgeable customer support and helped implement the electronic check processing solution within a day. As a payment solution provider that values check payments as an underused and underrated method of payment acceptance by online merchants, the business new EMB was the business to turn to.

By using EMB’s eCheck processing service, iCheck, the small business was able to see funds from check sales right away. In fact, all types of ACH payments, including credit and debit card transactions, are eligible for same-day ACH processing when working with EMB. EMB also informed the small business that it could easily process checks electronically with a software program or a web-based payment processing service, and it did not require the purchase or installation additional software or hardware.

Its use of the latest information about payments solutions and the most advanced technology, are other reasons why the business was attracted to EMB. The business realized as it and its clients grew and changed, EMB would be there to change with it, as well.

The Benefit

The small business has seen many advantage to using EMB’s iCheck services. In addition improved operational efficiency, the business experienced quantifiable benefits, including:

  • The business went from waiting a day or two for funds to be deposited into its bank account, to them showing up the same day as the transaction
  • Clients responded positively to the electronic check processing solution, resulting in a user increase of 15%
  • The increase in users also was significant because the business had been experiencing a higher-than-normal increase in credit card declines
  • Turning credit card declines into actual sales, boosted revenue by an estimated 20%

With all of these positives, the inclusion of EMB’s eCheck processing services was a major win for its business and its future earning potential.