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 EnCircle's
Accounts Receivable (ARC) product is currently available to users
of the VISA POS Check program. It is estimated that over 40 billion
checks are written each year for the payment of utilities, credit
card, healthcare and other billed services. The EnCircle Accounts
Receivable product solutions allow a billing company to take advantage
of the inherent efficiencies of electronic payment processing.
The
benefits of installing an Accounts Receivable ARC check conversion
solution can be measured in real economic terms. Some of these
benefits include reduced check losses, improved collection of
returned checks, simplified cash management, and increased efficiency
in managing the processing of check transactions. Considering
all factors of cost and efficiency, check conversion is substantially
advantageous to traditional check processing.
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Corporation/
Merchant Benefits for ARC:
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- Reduces
check-processing and handling costs by converting personal checks
to electronic transactions as checks are received for processing.
- Automates
the ability to electronically process return fees - eliminating
the need for negative customer contact for return
fee payment if a check is returned.
- Lowers
check losses by settling transactions via ACH or on-line debit
which clear prior to paper checks.
- Speeds
up check management for operations staff.
- Provides
more efficient clearing and settlement, and faster funds availability.
- Further
reduces losses by providing additional options for guarantee
and collection services
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- Improved
check reporting capabilities - Immediate detailed reports available
through on-line EnQuire
Reporting.
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Financial
Institution Benefits for ARC:
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Treasury and
Cash Management:
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Expands
reach for check deposit activity from merchants that are
outside geographically located bank branches.
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Increases ACH volume and decreases paper handling requirements.
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Improves competitiveness in the market by creating a new,
high-value product to offer customers.
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Consumer
Benefits for ARC:
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- Enhanced
bank statement information - detailed transaction information
reported on bank statement
- Free electronic
check processing service
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EnCircle
's ARC product options have been designed for ease of use while
keeping in mind the requirements of data integrity and security.
All ARC product options offer web access for all data input and
reporting giving the user full control over their individual check
management needs. Automated
return fee collection options are managed upon the origination
of the ARC merchant account allowing both a flat rate fee or fee
as defined by state.
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EnCircle
is proud to deliver an array of ARC options, designed to meet
your company's unique requirements. Whether you are looking for
a complete "turn-key" service for check
guarantee, or a specific remittance check processing service
need, EnCircle is here to assist you.
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Net ARC Silver Service: ARC Silver Service consists of
the full-service, on-line data management of electronic check
processing without image requirements. If you are in need
of a service that gives you the ability to process check items
electronically without the added requirement of an image for
check maker data retrieval, EnCircle's ARC Silver Service
is for you.
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Net ARC Gold Service: ARC Gold Service - ARC Gold Service
offers customers the ability to receive the additional benefit
of image data reporting
through a turn-key service where checks are imaged at the
point of entry and sent to EnCircle for archival and retrieval.
With EnCircle's Gold Service, you can enjoy the many benefits
of automated check handling and electronic retrieval fulfillment.
This offering is especially popular with merchants using a
third-party collection service whereby the returned check
data needs to be remotely accessed for collection purposes.
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Net ARC Platinum: ARC Platinum - ARC Platinum Service
offers customers the additional benefit of guarantee
or collection
services. When items are returned due to NSF or other reason
codes, EnCircle will not chargeback the item to the merchant
account. Alternatively, when all attempts fail in collecting
the check through the ACH return process, EnCircle will manage
the hard collection activity needed to recover funds for the
returned check. Either image
and non-image solutions are available through EnCircle's ARC
Platinum Service.
©
all rights reserved 2004, EnCircle
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