Electracash enables businesses to accepting payments from Canadian consumers who want to pay using their checking accounts. By accepting checks from Canadian consumers, access is provided to 33 million potential new customers.
When processing a Canadian EFT (debit) request, the transaction is placed on hold for three (3) business days, pending the faxed receipt from the customer of a signed authorization form (provided by Electracash) approving the debit to their account. When processing a Canadian Direct Deposit, no additional signature is required.
Following are brief illustrations of the process used for accepting Canadian EFT transactions, depending on the connection/gateway option used by the merchant. If you have questions regarding this process, please contact an Electracash Sales Representative.
Managed ACH Merchants
Merchants using Electracash’s hosted payment page will receive an authorization receipt after successfully completing the transaction. An authorization form is present on the receipt page which the customer can download and fax to Electracash. Electracash must receive the completed authorization form within three days of the transaction.
Virtual Terminal Merchants
Virtual Terminal Merchants submit transaction requests via (for example) a Call Center to the Electracash Virtual Terminal Interface. Merchants must provide their customers the authorization form to complete and fax to Electracash within three days of the transaction.
ACH Gateway Merchants
ACH Gateway Merchants submit batch transaction requests to the Electracash ACH Gateway. Upon receipt of the transaction requests, the ACH Gateway will return to the merchant an approved response pending receipt of the Canadian Authorization Form. The merchant must provide the customer an authorization form that must be completed and faxed to Electracash within three days of the transaction. The transaction will be placed on hold status until the completed authorization form is received.
