What is Point of Sale Conversion?
Point of Sale (POS) Conversion provides the necessary tools for merchants to accept and process checks electronically at the point-of-sale, just like a credit card. Using a check reader or imager connected to a credit card terminal, merchants are able to process and deposit checks without making a trip to the bank. By offering more payment options, your business can increase sales and customer satisfaction.
Check Guarantee provides protection that eliminates the risk of accepting bad checks. By following simple procedures during the transaction, the merchant transfers the risk to the processor. The Guarantee ensures the merchant receives funding on the check. This helps to greatly improve cash flow, and eliminate collection operations. Check Guarantee provides merchants the freedom to accept checks without fear.
Benefits of Point of Sale
- Increase sales and customer satisfaction while your business accepts checks safely at the point of sale.
- Deposits from multiple locations can be consolidated for your convenience.
- Trips to the bank, check handling labor, and costly banking fees are eliminated.
- Fast access to funds with deposits made directly into their bank account in 2-3 business days.
- No more filing paper claims for bad checks.
How POS Conversion Works...
- Paper checks are accepted during face-to-face transactions at the point-of-sale.
- Checks are run through a check imager or reader connected to a credit card terminal.
- The funds are electronically debited from the consumer’s checking account.
- Funds are then electronically deposited into the merchant’s bank account in 2-3 business days.
For more information on the program, please call Tim Carter in Merchant Services at 1-800-622-6290, ext 1590.