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Success F inan ce
The eCheck Solution
The Question: In today’s techno world what’s the best option for a
non-retail business to collect from their customers? The Answer:
eCheck 21. Non-retail businesses have relied on virtually the same
payment processing methods as retail stores. This, of course, presents
various problems because the customer is not present, hence the name:
Customer Non-Present Transactions. But yet banks and credit card
processors have forced businesses with back office payment processing
to use the same payment products, making it much more expensive to
process transactions. As we continue to see the credit card processing
fees increase, businesses are desperately trying to find better ways to
process there invoice collections. An option now available to all non-
retailers is: eCheck21. Its an ACH format transaction using a Check21
settlement. This means that you can capture the information you need
from your client electronically over the phone, and have your payment
enter your account on the same day. This makes eCheck21 far superior
than a standard ACH collection. When comparing the cost savings of
eCheck21 with credit card transactions, the savings can be as much as
80% for a business.
ABOUT THE AUTHOR
Eri Guzman created the first POS terminal
using Eicon Technology in 1990 for check
verification. Since 2001, he has specialized
in ACH & eCheck21 processing as
President of Paysoft International in Coral
Gables; 305.777.3581; PaysoftIntern.com.
58 Secret Weapon
Virtual assistants can help improve efficiency and ultimately
the bottom line without the commitment of a full-time
salary and dedicated desk.
T e x t by S tac y W y n n
Going well beyond Google Analytics, you can get
customized reports on yourself, competitors, new
products/offerings, potential employees, clients
and more by investing in a personal researcher,
advises Sue Kramer Harrawood of Peace Of Mind
Virtual Assistance. It’s a smart way to delegate
all those tedious tasks holding you back.
We’re not talking large-scale Fortune 500
data input, but assistance with those small but
critical details rarely gotten to like inputting new
business cards from a trade show or event for
efficient follow-up could use a personal touch
now and again. According to Janice Lowrienga of
Staff Partners Inc., it’s worth the investment.
Put away your copy of PowerPoint For Dummies
and set your next meeting presentation into the
hands of a professional who will make your data
sing. Or opt for a summary or comprehensive
Word doc-style handout, recommends Rick
Pearson of eLance.com. It’s one sure way
to either make new business or to take the
business you already have to the next level.