Features of Electracash\'s eCheck processing were developed to provide efficiencies to our merchant base. These include:

Payments Management

Electracash can service virtually any type of merchant with flexible payment options, including:

  • One-time, per-purchase payments
  • Installment payments with highly flexible terms (number of payments,weekly/bi-weekly/monthly/quarterly/semi-annually/annually)
  • Recurring payments management: automatic collection of payments
  • Daily settlement to the merchant (five business day lag time before funding the merchant\'s account with Electracash)

Returns Management

Managing returned items is made easier with processes Electracash has implemented, including:

  • Automatic notification of NSFs (usually within 3 or 4 days of transaction submission to the ACH)
  • Automatic redeposit of NSFs (optional)
  • Same day notification of returned checks for Electracash Gateway Services implementation
  • Automatic dishonoring of untimely returns
  • Automatic addition of administrative returns to negative database

Notification of Change Reporting

Notification of Change (“NOC”) is essentially a bank that has received an ACH payment advising the processor that an account number or other information pertinent to that consumer’s payment has changed. Electracash also notifies the merchant of such change, helping to reduce time and costs associated with having inaccurate records on file (e.g., address information and checking account number changes).

Automatic Fraud Controls

Electracash works diligently to identify and stop fraudulent merchants and consumers very early on, and to ensure transaction integrity. Accordingly, Electracash institutes comprehensive risk management procedures on every front. A brief summary of Electracash\'s various risk management practices is provided below:

  • Transaction Risk Management – to verify that transactions are viable in structure before submitted through the banking networks. Find out more.
  • Merchant Risk Management – to eliminate fraudulent merchant sites from processing payments. Find out more.
  • Data Security – to protect information provided by merchants and their customers. Find out more.

Each of the above categories of risk management is addressed in greater detail using the click-through links. However, should you have additional questions, please contact us.

Reporting and Support

Electracash offers comprehensive reporting of transactions and associated funds, as well as excellent merchant and customer support.

  • Online Statistical Reporting available in Electracash’s secure Merchant Administration Interface, accessible with assigned User ID and password. Detailed descriptions of the reports are included in the Electracash Merchant Administration Manual.
  • Dedicated Merchant Technical Support – 24/7 merchant technical support, available via phone, e-mail, and LivePerson chat.
  • Merchant Administrative Support, available via phone, e-mail, and chat.
  • Dedicated Customer Help Desk (optional) – via LivePerson chat, telephone, and e-mail, for merchants choosing this service option.