Zurich/Delaware (PRWEB) June 12, 2011
Internet merchants have unique issues to face, more so than traditional brick and mortar merchants. Payment21®understands their specific requirements and is the Internet merchant’s best friend by offering demand draft and direct debit capabilities to process U.S. online transactions. With so many e-shopping sites, consumers have become used to choice and speed but will not sacrifice the safety of their online transactions. Internet merchants understand this and know they must become more competitive with their goods and services as well as offering the fastest yet most secure online checkout options to their shoppers. As if this weren’t enough, bottom line, Internet merchants must receive their payments with the utmost swiftness and security.
Payment21.com is a Payment Service Provider, whose most recent offering is Instant eCheck™, which utilizes the Federal Reserve’s Check 21 standard as introduced by The Check Clearing for the 21st Century Act (Check 21 Act). The company receives all transaction data from merchants and converts this data into digital check images. The images are then cleared through the banking system then finally with The Federal Reserve Bank. Simply put, Internet merchants receive payment in almost real time. Payment21.com takes care of all clearance matters and can validate funds instantly over the Web usually the same day or overnight which means, the merchant can ship right away.
Payment21.com’s direct debit alternative or, ACH (Automated Clearing House) Transaction Processing, their second clearing option, quickly automates payments over the Web for the Internet merchant’s consumers. They simply enter their checking account details securely on the merchant’s payment page. The checking information is then electronically converted into an ACH transaction. One of Payment21.com’s strengths is focusing on processing electronic transactions. The company offers advanced services and personalized support behind every transaction. Payment21.com’s ACH Payment Processing is an excellent solution for qualified organizations, reducing the time of receiving paper checks by 1 to 5 days. Depending on the merchant’s type of business and their check return types and/or averages, Payment21.com settles collected funds via ACH to the merchant’s bank account within 3 to 5 business days.
Recurring billing is a great option for Internet merchants who offer online subscriptions or any service that must be billed periodically. Payment21.com helps them manage this service. By securely keeping their customer’s account information, they can be billed regularly with just a few clicks.
Payment21.com also offers customized APIs. Most PSPs don’t provide this but Payment21.com believes in offering the Internet merchant the most options available to make interaction between itself and their consumer smoother and ultimately successful.
Payment21.com’s Check 21 and ACH electronic check processing represent different transaction and business models, and provide significantly different information flows, legal frameworks, and risk management capabilities. For more details on the main differences between Check 21 and ACH transactions, visit http://www.payment21.com.
Whether it’s a Check 21 or ACH transaction, Payment21.com’s customizable Verification Loop™ and the proprietary Mitigation Algorithm™, payment guarantee, fast clearing for instant payments, and recurring billing option, ensures that Internet merchants will save time and money, while enabling more consumers to buy from them.