iCheck, the Future of Check Processing for Debt Collection Agencies

Researching federal and state laws, setting up a tax structure and building a customer base are all part of setting up a successful debt collection agency. Setting up a debt collection merchant account that allows you to accept electronic payments as well as preparing collection methods are also a huge part of operating a successful agency. Without the ability to accept electronic payment, the number of ways debtors can pay you is extremely limited.

Thousands of collection agencies, large and small, have turned to merchant accounts for the payment processing solutions they need to be able to grow their business. This alternative solution has filled a big gap left by traditional banking institutions that are unwilling to offer their services to this high risk industry. Debt collection agencies have been placed in this categorization due to the unstable nature of this industry.

eMerchantBroker is the #1 provider of merchant accounts to collection agencies. Recently, their services have expanded beyond just offering this industry a merchant account. Through a new service called iCheck, merchants now have a means of electronic check processing that facilitates faster funding on a wider variety of checks with few restrictions. This wider variety of checks includes: personal, business, government, money orders, travelers and cashier’s certified.

In addition, iCheck makes it possible to accept checks at the Point of Sale or when the consumer is not present. Merchants can also enjoy less trips to the bank since iCheck makes fast electronic deposit of funds possible in as little as 24 hours. No check writer authorization is required, and funding is guaranteed for transactions.

EMB also offers other check processing solutions for merchants that can prove beneficial to debt collection agencies. Check-by-phone is particularly useful for debt collection agencies. This service allows merchants to accept and process checks over the phone; thus, making check processing that much simpler. If being able to still accept paper checks is a concern, EMB has your agency covered. Paper guarantee means you can still accept and process checks as a payment method, without the risks.

EMB’s check services will work for the majority of businesses. iCheck’s features, with the fast payments, ease of use and quick application process, has made it EMB’s premiere check solution and the future of check processing. Don’t let your business fall behind as more and more people are using their smartphones for mobile payments. Taking advantage of services like iCheck and paper guarantee will ensure that your business continues to experiences success.

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