Authorize.Net's
eCheck.Net is a payment
solution that allows web-based and traditional
merchants to accept and process electronic check
payments either directly from their Website or through the Authorize.Net™ Virtual
Terminal
.
With eCheck.Net, customers pay for a purchase
with an electronic check by selecting the
electronic check option and entering the
requested bank account information. eCheck.Net
encrypts the data using Secure Socket Layer (SSL)
3.0 encryption technology, and transmits it to
the secure server for posting. Transactions are
automatically settled each day. Authorize.Net
initiates a debit to the consumer's checking
account via the Automated Clearing House (ACH)
and then transfers the funds to the
merchant's account. The eCheck.Net system
notifies merchants of failed transfer attempts,
including “Not Sufficient Funds” returns.
Traditional merchants without commerce-enabled
Web sites can also use eCheck.Net to handle
periodic billing. Health clubs, tanning salons,
subscription services, ISPs, membership
companies and health care practitioners are all
examples of businesses that regularly deduct
funds from customers' checking accounts.
eCheck.Net
Enables
merchants to obtain payment via direct debit
from their customers’ bank accounts.
Initiates a
seven-business-day payment fulfillment cycle
once a transaction is cleared.
Appears on a
customer’s bank statement as "ECHECK
TRANSACTION XXXXXXXXXX," where the Xs
represent a 10-character abbreviation of the
merchant’s business name.
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