Back Office Conversion

Concerns	Solutions
Cash Flow	Accepting checks at the point-of-sale and depositing them in the back office electronically   through the ACH network or Check 21 is fast and efficient. Settling times that traditionally can take 5 to 7 days are now reduced to 24-48 hours.
Check Fraud	Electronically depositing checks reduces return notification times to 24-48 hours. When a check is returned, our check verification database is updated to limit the liability associated with fraudulent and returned checks.
Bank Fees	Our software takes over the deposit process from your bank. We offer deposit fees and return check fees that are typically much lower than the banks. Courier costs and bank runs to deposit checks are also minimized or even eliminated.

 

Payment Solutions has developed a comprehensive check management solution. We’ve combined check verification, electronic check processing, and collections into one unique package. Our eSoftpay Software allows you to deposit paper checks electronically from your back office into your existing bank account. If the check is returned, it is forwarded to our electronic collection software and electronically redeposited. Checks that do not clear on initial deposit are updated in our check verification database to limit liability. The result, faster funding times and less returned checks!

About BOC or Back Office Conversion

Due to consumer demand from merchant and government agencies throughout the country, point-of-sale checks can now be deposited electronically in the back office. Beginning March 17th, 2007 checks that were received at the point-of-sale no longer require customer approval with a signed receipt. NACHA has designated the ACH code for this service as BOC or Back Office Conversion.

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