Quite Simply Electronic Check Processing is a cost-effective way to collect from your customers. Credit Cards charge anywhere from 2%-4% for each transaction in addition to per transaction fees. Credit Card Companies also sometimes require equipment purchases or leases. Processing payments via electronic check is much more affordable with a one-time charge no matter the amount of the transaction. On larger item transactions the savings can be dramatic. Transactions are processed through our secured gateway and generated in real-time. Funds are made available on the fifth business day direct to your designated account.

Advantages:

• Stability, reliability, usability
• Safety and security: All transactions encrypted and processed through the Federal Reserves Automated Clearing House (ACH); ACH transactions are protected by Federal Regulations.
• Free customer and technical support
• 24/7/365 user access
• Fraud prevention tools
• Detailed, real-time reporting
• Reduced processing costs and accounts receivables efficiency
• Flexibility - batch processing, recurring payment and integration abilities

According to NACHA-The Electronic Payments Association, nearly 14 billion ACH payments were made in 2005, a 16.2 percent increase over 2004. The nation's financial institutions originated 17.4 percent more ACH payments in 2005 than in 2004. The number of these payments was 12.98 billion, a jump of more than 1.9 billion over 2004, and valued at $27.9 trillion. The remainder were originated by the federal government - 976 million ACH payments in 2005, up 2.6 percent, and valued at $3.2 trillion. Annual ACH payment volume has doubled in the last five years, spurred by growth across all transaction categories and newer applications. In 2005, an estimated four billion electronic check transactions were processed, an increase of about 50 percent.

WHO CAN BENEFIT FROM E-FAST-PAY

• Payrolls and pensions
• Employee expense reimbursements
• Customer-initiated transactions (e.g., telephone bill payments)
• Corporate-to-corporate payments
• Dividends and interest payments
• Social Security payments
• Tax payments
• Annuities
• Website Portals and Online Shopping Carts
• ACH Debit Payments May Include:
• Association/club dues
• Corporate-to-corporate payments
• Contributions to IRAs, SEPs, 401Ks, etc.
• Government savings bonds purchases
• Insurance payments
• Mortgage and installment loan payments
• Point-of-sale check conversion
• Tax payments
• Charitable donations
• Telephone or online purchases