eCheck Payment Processing Can Help Your Business Collect Payments On Time

Dec 28, 2018

eChecks are regarded as the “next generation” payment method in the US. They boast a widespread use by businesses making payments online. Are interested in collecting eCheck payments from your customers? What’s important to know about eCheck payment processing? This article is here to help you with this.

eCheck Payment Processing

It was the year 1930 when Albert Haddock received a bill from the British tax authorities for the sum of £57 and 10 shillings. Since that wasn’t a small amount of money for those times, Haddock felt unhappy about paying it. He decided to express his feelings through a written check.

Haddock wrote the following, “To the London and Literary Bank, Limited Pay the Collector of Taxes, who is no gentleman, or Order, the sum of fifty-seven pounds £57/0/0 (and may he rot!).” Albert Haddock

Those words were written in red stencil on the side of a cow, which Haddock took to the tax office, and without taking the horse with him, he required the office to give him a receipt. What does this mean? Well, no matter it’s written on a piece of paper or the side of a cow, it isn’t the case at all, unless you’re the person to process it. Today, the paper-based system is becoming less widespread.

In 1998, the Financial Services Technology Consortium began using the eCheck electronic payment system with America’s Department of the Treasury. So, the concept of eCheck is based on this very principle: instead of using paper, eChecks use a computer file to express the info available in the traditional checks.

Thus, an eCheck or electronic check can be described as a form of online payment where funds are electronically removed from the payer’s checking account, sent over the ACH (Automated Clearing House) network, and deposited into the payee’s checking account. So, you can think of an eCheck as an electronic version of a paper check.

eChecks offer payment processing efficiency and security of online transactions. Electronic checks are fast since there’s no need to manually fill out a paper check and send it. As a result, eCheck users save both time and paper.

With eChecks, you can “authorize” the check payment in real time, while your customer is in your store, and is like a credit card transaction in many ways. This way, you get to know if the customer has the necessary funds in his/her account or not so that an alternative payment method can be used before the customer leaves your store.

Does your business already accept credit cards? Would you like to incorporate ACH processing into your system? This is easily doable if you work with a reputable payment processor like EMB is considered an A+ company by the BBB and an A company by Card Payment Options. offers both cards and eCheck payment processing services to merchants running a business online.

EMB is committed to helping you enjoy quick and efficient processing with payments. Thanks to, you can start accepting payments immediately and deposit automatically for a streamlined payment process.

Why to Use eChecks for Payment Transactions

Credit card payments are probably the most common method of completing payments online. As for recurring transactions, eCheck payments are the most suitable.

To process an electronic check, you’ll need to request authorization, then set up your payment, finalize and submit, and, finally, confirm your payment, after which, the funds will get deposited.

The benefits using eCheck include:

  • Affordability
  • Speed
  • Delivery
  • Reliability
  • Lower support issues

And more.

By the way, if you’re interested in the similarities and differences between ACH, EFT (electronic funds transfer), and eCheck payments, remember the following. eChecks are a type of EFT that uses the ACH network to process the payment.

So, the funds get electronically removed from the payer’s account, transferred through the ACH network to the payee’s banking institution, and then electronically deposited into the payee’s account. In fact, businesses that charge fixed fees from their customers at fixed intervals should go for eChecks as their main payment method.

eChecks imply an electronic way of completing payment transactions. The more options you offer to your customers, the more chances you’ll have to get paid. So, turn to a trustworthy payment professional in the field to get the best for your business needs.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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