VerifyValid, the web-based payment enablement and fraud prevention company, have announced a new check payment platform. CheckItOut “Beta” costs organisations 50 cents per transaction.
The solution enables allows businesses – small or large – to accept check-based payments from their customers via a simple web interface, which takes only seconds to activate.
“Organisations are looking for a fast and secure way to accept payments that don’t require huge transaction fees, or take a percentage of the total transaction,” said Paul Doyle, president and co-founder of VerifyValid. “CheckItOut guarantees the majority of a payment, regardless of the size of that payment, go to the organisation, and not to confiscatory fees.”
By maintaining a check as digital element and requiring no additional equipment for processing checks, VerifyValid requires a .50 cent fee for the transaction ensuring the payments stay within the organisation, and not into the marketplace.
VerifyValid user can launch a instant web-based payment interface allowing their customers to pay them via the Internet without the cost and complexity of merchant accounts or credit card interchange fees. Organisations can digitally deposit checks directly into their bank accounts, or can download and print checks.
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