Solupay’s Verification service is one of the industry's most sophisticated check verification systems. It gives you the confidence to accept more checks, while reducing bank fees and processing costs. You will see an improvement in cash flow with faster funding utilizing the Verification service. And with electronic check processing, you return the check to the consumer helping to protect your customer's personal information.
The Verification service screens checks against information from hundreds of thousands of businesses and financial institutions, minimizing the risks associated with check acceptance.
How It Works
After a customer gives you a paper check, Solupay uses leading risk assessment technology and extensive check writer negative and activity databases to evaluate the risk of accepting a check. If the check meets the verification requirements, the Verification service converts the paper check into an electronic transaction at the point-of-sale. The Automated Clearing House (ACH) network is used to process the transaction and funds are deposited directly into your bank account generally in two business days.
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