Our Check Conversion product is a practical cost savings method for all merchants who accept paper checks at the point of sale. Virtually all personal and business checks are eligible for conversion.  Unlike many of our competitors, we can convert most business checks to an electronic item. And in the cases where they have ACH blocks on the account, we will simply print a paper draft and deposit it on your behalf.  Solupay has certified more of the nation’s stand-alone terminals and cash register systems than any other provider of check conversion. Thus delivering the complete solution to our merchants.

The Check Conversion product offers your business a variety of benefits that include lower check processing costs, reduced check acceptance risk, and increased incremental revenue from sharing in NSF fees that we collect electronically.

How does it work?

1. Check is presented as payment to a merchant (it does NOT need to be filled out or signed (thus expediting checkout time).
2. Check is run through a check reader that is attached to a supported terminal or register system.
3. The check is handed back to the customer (stamped VOID).
4. The transaction amount is keyed into the terminal or routed from the POS device.
5. The transaction routes via dial, Internet (DSL, Cable, T-1) or Frame Relay for an approval. If approved, the terminal prints a receipt authorizing the customer to debit his/her checking account for the amount.
6. Additionally, the signed authorization will permit us (up to 2 more times) to attempt an electronic representment of the item if the original is returned Non-Sufficient Funds. We typically will present at a time when it is likely for the check writer to have funds in their account (e.g. trying to hit pay day).
7. Also, the signed authorization will permit us to debit the customer automatically for a returned check fee (typically up to $25 or higher as permitted by law) if the original transaction is returned. This collection is actually done via a deposited paper draft after the original is collected.
8. At the end of the day, the terminal is closed, just like a credit card terminal and transactions are paid within 2 business days.
9. If an item is returned, we will attempt to collect this item electronically.  Upon successful electronic collection, we will give you 100% of the face value of the check plus a percentage of the returned check fee (if collected). 
10. If we are unable to collect the check electronically, then the transaction will be debited to your account after all attempts have been exhausted.  Typically 70% of returns will be collected with the 2 electronic representments.
11. Our collection department is licensed in all 50 states. So once the transaction is determined “fatal”, it will be debited to your account. However, we will begin working that item.  With our hard collection, we will pay you 70% of the face value of the collected check amount. Our collection department will keep 30% plus any NSF fees collected.

Our team of consultants can show you how the total cost of check conversion is cheaper than Pin-based debit programs such as Star, NYCE, Interlink or Pulse.  In fact, some customers tell us the total cost of this program is HALF of PIN based debit.