Payment Transaction Systems/MyEcheck provides a full suite of comprehensive Check 21 imaging, processing and related solutions for online merchants, call centers, billers, retail POS and RDC/back office applications.

Our merchants benefit from increased sales, lower costs and faster clearing.

 For Retail POS and Back Office Imaging

Payment Transaction Systems/MyEcheck provides complete turn-key Check 21 solutions that enable merchants, corporations and banks to remit Check 21 items. Check image processing will eliminate your paper check transportation, reduce your handling and administrative costs, speed clearing by an average of 2+ days and improve your cash float.

For Internet Phone, Recurring and Batch payments.

MyECheck's RCC image service is the worlds first Check 21 solution for remote transactions.

Internet- Your customers enter their check data on your website and pass it to us electronically.

Phone- You collect customer data over the phone and enter it into a virtual terminal for processing.

Recurring- Send us single transaction data or CSV files on dates you want payments processed and we will clear the funds to your account that day.

Batch- Send batch CSV files over SFTP. As we receive your customer's data, we create RCC images of the items and insert them into X9.37 files (the current standard Check 21 file format).

MyECheck created items, electronic RCCs are governed by Check 21 law and Uniform Commercial Code (UCC state law). These laws are much more favorable to the recipient, you, than are the laws governing ACH transactions – particularly with respect to charge-backs.

MyECheck has Broader Reach

MyECheck can debit every US checking account, even accounts that ACH cannot debit. Such accounts include accounts at many Credit Unions, S&Ls, small banks, brokerage accounts, business accounts and credit card check accounts.

In fact, MyECheck provides you with access to more customers than any other single payment method.

MyECheck Provides Faster Clearing and Availability. MyECheck items are created, file formatted and submitted directly into the banking system for fastest possible clearing. Providing your bank with expedited availability.

With faster clearing and availability, risk is reduced, cash flow is improved, and services can be provided sooner with greater confidence.

General

Check 21 is a federal law that is designed to enable banks to handle more checks electronically, which should make check processing faster and more efficient. Today, banks often must physically move original paper checks from the bank where the checks are deposited to the bank that pays them. This transportation can be inefficient and costly. Check 21 became effective on October 28, 2004.

2. How will Check 21 make check processing more efficient?

Instead of physically moving paper checks from one bank to another, Check 21 will allow banks to process more checks electronically. Banks can capture a picture of the front and back of the check along with the associated payment information and transmit this information electronically. If a receiving bank or its customer requires a paper check, the bank can use the electronic picture and payment information to create a paper “substitute check.” This process enables banks to reduce the cost of physically handling and transporting original paper checks, which can be very expensive.

3. Is electronic check processing secure?

Electronic check processing is not new to the financial industry and is a safe and reliable way of processing payments. It uses technology that has been developed and tested to process your check information securely.

4. Does Check 21 mean that customers can't get their checks back in their account statements?

No. Check 21 does not require customers to stop receiving checks back in their account statements. The contents of an account statement will continue to be governed by the account agreement between the bank and its customer. Rather, when banks have agreed to provide paid checks in statements, Check 21 permits the bank to provide either the original check or a substitute check.

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RCC  RDC  ach debit  ach services  check 21  check 21 for business