(PRWEB) May 26, 2011
In the payment industry, checks can be processed as electronic items and transmitted via the ACH (Automated Clearing House) network or through paper items (check21). Altcharge is one of the leading paper conversion processing companies in the payments industry. Typically, companies such as altcharge, rely on check21, which has a no signature required rule. However, Altcharge has decided to change this model for the convenience of its clients, and offer an electronic based signature system. Consumers in the past have been used to purchasing products over the internet and signing their signature with a pen, their finger, and more increasingly with a mouse.
Altcharge has created an improved method for digitally signing checks online. Using Altcharge’s newest feature, clients will be guided to an online store checkout page where they will safely enter their standard checking account routing number as well as their checking account number. The client will then be prompted to sign their name on the order page. All of this data is transmitted to Altcharge’s state of the art gateway product and converted into a regular paper check which will then be ready for submission to a bank.
No signature required checks are often rejected by smaller banking institutions. By depositing signed checks, the merchant has a lower risk of the check being returned before they ship the product or fulfill the service to the customer. This is due to the signature that has been added to the check.
Altcharge is a payment processing company that specializes in processing checks for internet and telephone based businesses. Altcharge is the first company to offer this feature. Altcharge was founded in 2008 and is currently signing up over 150 small to large sized merchants per week.