Signed, written authorizations may be provided electronically, subject to the E-Sign Act (staff commentary 205.10(b)–5).
Ogden, Utah (PRWEB) June 19, 2013
Signature4U is a cloud based interactive authenticated hand written signature. Utilizing the cloud, a smart phone, mobile device or desktop, any facility can now obtain an authenticated signature on any transaction, or a schedule of preauthorized transactions. The process is initiated by the facility by text or email, and the consumer actually signs the form on his touch screen device and sends it back. The signature attaches to the document or transaction. The entire process takes approximately one minute. The benefit of Signature4U is two fold, it is very easy and the cost is minimal.
Kent Green, the co-founder of PDC4U says that it will allow any company to become compliant with Regulation E for Pre authorized ACH and Debit Card transactions. Regulation E states, “Preauthorized transfers from a consumer’s account may be authorized only by the consumer in writing and signed or similarly authenticated by the consumer (section 205.10(b)). Signed, written authorizations may be provided electronically, subject to the E-Sign Act (staff commentary 205.10(b)–5). In all cases, the party that obtains the authorization from the consumer must provide a copy to the consumer. If a third-party payee fails to obtain an authorization in writing or fails to provide a copy to the consumer, the third-party payee, and not the financial institution has violated Regulation E”.
PDC4U is a cloud-based payment processing service founded in 2005. PDC4U allows companies new to merchant processing to accept credit cards and ACH transactions for payment, via the phone, Internet or on the go with mobile devices. PDC4U compliments existing merchants with features designed to reduce receivables and tremendously increase cash flow. The company actively assists U.S. based businesses and organizations nationwide, including but not limited to, utility companies, medical facilities, and the accounts receivables management industry. A Delaware limited liability company, PDC Pay Data Center, doing business as PDC4U, is owned and operated by Beyond Investments, Inc.