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eCheck.Net
(Click Here for CheckWriter)
eCheck.Net is a NETSolutions payment service
that allows online and traditional merchants to accept and process
electronic check payments -- either directly from their Web site's
storefront or through the Authorize.Net Virtual Terminal.
eCheck.Net makes it easy for online businesses to add an electronic
check payment option to their Web site. Customers who wish to pay
for a purchase with an electronic check can simply select the electronic
check option and enter the requested bank account information. eCheck.Net
encrypts the data using the same SSL 3.0 encryption technology as
Authorize.Net and transmits it to the secure server for posting. Transactions
are automatically settled each day. Then, the system debits the consumer's
account via the Automated Clearing House (ACH)* and transfers the
funds to the merchant's account. If the account numbers are entered
incorrectly or the account has insufficient funds, the eCheck.Net
system notifies the merchant.
Traditional merchants without commerce-enabled Web sites can also
use eCheck.Net to handle periodic billings. Businesses such as health
clubs, tanning salons, subscription services, ISPs, membership companies,
and health care practitioners are typical examples of businesses that
need the ability to periodically deduct funds from their customers'
checking accounts. Of course, customer approval is always recommended,
and merchants must sign a separate eCheck.Net ACH agreement to perform
these types of transactions.
*The Automated Clearing House is the electronic network which transfers
and clears funds between banking institutions on behalf of merchants
and their customers. Each transaction takes approximately 48 hours
to clear, and we strongly suggest that merchants wait five days from
the initial transaction date before shipping any goods. This leaves
two days to debit the consumer's account, two days to deposit the
funds into the merchant's account, and one day for the bank to post
the transaction. Because of this unavoidable delay, eCheck.Net should
not be used by merchants who sell soft or digital goods that are normally
downloaded immediately upon completion of the sale.
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