Merchant Benefits
Reduce check expenses and get the benefits
In 2002, consumers wrote nearly 15 billion checks at the point-of-sale. Checks represented approximately 45 percent of personal consumption expenditure. With the POS Check Service, Visa has put together a solution to reduce check processing costs while offering a variety of benefits to merchants at the same time.
Some of the many merchant benefits of the POS Check Service include:
- The ability to utilize existing processing connections, allowing you to work with your current bankcard Acquirer/processor.
- The power to reduce the risk associated with accepting checks by offering online real-time access to your customer’s account to determine the probability the check will be paid.
- Quicker payment, through the POS Check Service, checks are settled via VisaNet or the ACH network for faster deposits of funds to your business account.
- Simplified end-of-day processing, because checks are voided and handed back to the customer at the time of the transaction, and the transaction is stored in your point-of-sale terminal.
- Ability to reduce costs associated with check acceptance including fraud losses.
- Possibility to increase store revenue by accepting out-of-state checks.
- Marketing support via your Acquirer/processor to assist you with point-of-sale materials on electronic check conversion so your customers are informed.
Get started now
For more information on how you can begin participating in the POS Check Service program contact your Acquirer/processor or email us at poscheck@visa.com
