LOS ANGELES | CheckAlt, a Check21 application company, finished the year with over $4 billion dollars in processed transactions for 2013 by improving the way banks, credit unions, and merchants accept and process paper checks and eChecks.
Check21 and ecommerce
"Demand for check processing efficiencies remains high," explains CheckAlt CEO Shai Stern. "Furthermore, the applications of Check21 in eCommerce such as our MagCheck application, guaranteed bill and invoice payment through Zipmark, and mobile commerce through Doublebeam have further validated our thesis of the value of Check21."
The exponential growth in smart phones alone is changing the way customers interact with their financial institutions and pay for goods and services. A strong mobile platform and integrated payments experience is critical to both traditional and online businesses. For financial institutions, it can often be a key deciding factor on whether a customer switches banks. With branch convenience being critical for most, mobile and tablet brings the bank's branch directly into the hands of the customer - anytime, anywhere.
Mobile Wallet and electronic Check
CheckAlt's mobile and eCommerce solutions integrate seamlessly with a merchant's or bank's existing mobile application, enabling their customers to deposit or make a payment directly from their mobile device or mobile wallet using an electronic check, or eCheck. This provides a lower cost, more secure, and faster processing alternative to ACH or card-based payments.
25 billion Checks
Each year over 25 billion checks are processed in the U.S. alone. This presents continued opportunity to drive efficiencies in how checks are processed, and expand the Check21 applications available to banks and merchants to help them improve their customers' experience across digital and traditional channels, while lowering their processing and transaction costs.
CheckAlt is a Check21 application company providing Remote Deposit Capture (RDC), eCheck services, and mobile payments. CheckAlt's clients include banks, credit unions, check cashers and MSBs (money service businesses), insurance companies, municipalities, utilities, and small and medium-sized enterprises. Click here for more information on Checks for eCommerce and Mobile.
Sourced from CheckAlt, January 23rd, 2014