Electronic check processing software enables a business to quickly and easily accept check payments over the phone. Today, many companies take advantage of this check processing technology. The check over the phone is an inexpensive and secure method of payment that is not cash. Receiving checks online over the phone requires no signature, discounted fees, chargebacks, or leases. No need to worry about overdue or expired credit cards.

Now paying by check is as easy as paying by credit card, all you need to do is verify customer details. Many companies use check production software to speed up the payment process. All a business needs to get started is a computer, Internet access, a printer, and checks. You can generate a check 24 hours a day, 365 days a year. The information you need to generate these checks is similar to that required for the physical check. In this, the client gives the information related to the account, name, address, check number, etc. over the phone. This information is then entered into the system’s check processing software. The check is then generated with the help of an inkjet or laser printer using magnetic ink. This check is now ready to present at the bank.

Traditionally, one has to wait for the paper check to arrive, which was a risky and expensive process. But verification over the phone is a fast and secure process due to the following reasons:

1. The number of returned checks and the bank fee have been reduced.

2. There is a quick account verification. Companies learn in real time whether funds are available or not.

3. Reduce transaction costs and streamline your ordering process.

4. There are no more checks in the mail. Bill payments and past due payments are collected over the phone.

5. Accepting the check over the phone will immediately increase your sales and receipts by offering an additional payment option to your customer. Almost 75% of Americans do not have a credit card, so even those people can do business online.

6. There is an improvement in cash flow. Funds can be received within 48 hours.

7. There is a greater market opportunity due to faster order processing.

8. A convenient way is provided to the customer. All past due accounts can be updated.

The check received over the phone is considered safe because all converted checks are verified, usually at no additional charge. However, if you use a check guarantee program in conjunction with your electronic check service, you will be better off.