How Electronic Check Payment Processing Works
If you are an experienced business owner, your customers may have used electronic checks in order to make payments. Since many merchants find this system difficult to understand, they allow their payment processors to take care of the technical aspects of the system. In case of disputes, the trader can do nothing except accepting the demands of the payment process. Therefore, it is important that you understand how these electronic payment systems work. Read on to know more. If you manage a business, you may want to have at least a basic understanding of how electronic check processing works. Let's start with the definition of e-cheque. Basically, this is a type of payment system where funds are taken out from the bank account of a customer and deposited directly into the account of the merchant. The network that takes care of everything behind the scene is called an Automated Clearing House. For processing these payments, business owners have to have an e-cheque processing. This...