How to Accept E-Checks On Your Ecommerce Site?

If you currently accept credit cards on your ecommerce site, there is another way to increase your sales by adding another payment option. This option is the ability for a customer to pay you by an e-check for your products. Many people prefer not to use a credit card and it can be very easy to alienate these customers if you do not provide an alternative method of purchasing your products.

Merchants that do provide a mail order option typically have problems with waiting for checks to clear. This can take as long as two weeks, meaning that the customer will have to wait for their products to be shipped until this check clears. Although some companies automatically send out an order as soon as payment is received, you run the risk of having the check bounce, leaving you without much recourse.

If you are not interested in offering a mail order option for your customers, offering an e-check payment option can be a very good solution. When a customer places an order with you, they will enter in their banking information. This will include their bank’s routing number, their checking account number, and in some cases, their check number.

Once this has been done, the information is processed. Depending on the type of e-check processor you select, the information may be immediately verified, to ensure that there are enough funds in the account to process the transaction.

You will then be able to print out a check using your printer, which you can take to your bank and deposit, just like a regular check. There are many merchant account which add in the ability to accept e-checks and these companies typically feature an eft option, where the funds are automatically deposited into your checking account as soon as they are available.

You will still need to provide a secure area for your customers to enter in and submit their information. Banking information, in some ways, is more sensitive than credit card information. Many credit card companies offer fraud protection, while some banks do not offer this for checking account. It is vital to secure this information to protect your customers from possible fraud.

If you are having trouble getting approved for a merchant account, having an e-check payment option is a good temporary fix until you can find a merchant account that is right for your company.

Consumers that shop on the Internet are frequently spur of the moment shoppers and you need to take advantage of the instant nature that comes with selling online. Offering them a way to pay for your products immediately will ensure that they won’t forget to place an order, or go somewhere else where they can place their order immediately. Try offering this payment option in your online store and see if your orders increase with the additional payment option.

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Posted on 12/14/05 9:59 PM

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