Check Conversion/Guarantee
Check sales account for over 50% of all non-cash
 payments
at the point-of-sale. That's more than $650 billion annually. When
merchants accept checks, they make more sales. Check conversion &
guarantee services provide the flexibility and immediacy of electronic
payments with the comfort and familiarity of paying by check.
Electronic Check Conversion (ECT)
Electronic check conversion combines the benefits of paper checks
with the speed, ease and safety of electronic processing. It's just
like accepting a credit card or debit card at the point-of-sale. The
check is converted to a paperless transaction by electronically
moving funds from the customer's bank account to the merchant's bank
account. Combined with Check Guarantee, this service delivers a
streamlined check acceptance process that eliminates returned checks
and returned check fees, while reducing paperwork and trips to the
bank.
Benefits of Check Conversion:
-
Faster check payment processing
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Bank
account consolidation; centralized funds for multiple locations
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Checks are electronically deposited in your account - no trips
to the bank
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Returned items are discovered faster, expediting the collection
process
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Quick
detection of check fraud
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Eliminates lost or stolen checks before deposit
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Transaction reporting available real-time
Check Guarantee
Check guarantee minimizes your risk of accepting bad checks. With
check guarantee services, the merchant authorizes the check from its
database of millions of records, accessing both local and national
negative files of unpaid checks.
Benefits of Check Guarantee:
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EBT
 Electronic
Benefits Transfer is designed to help you reduce costs and save time in
processing government benefits transactions. Electronic Benefits Transfer
is currently being tested and applied by the U.S. Government in food stamp
distribution and welfare programs.
What
is Electronic Benefits Transfer?
Electronic Benefits Transfer (EBT) is electronic issuance to, and the
transfer of government benefit funds from, a recipient's benefit
account, allowing the recipient to buy goods and services or receive
cash. EBT is processed similarly to that of online debit transactions
using proprietary magnetic stripe cards in lieu of paper food stamps or
paper checks.
Handling governmental benefits transactions electronically:
For
supermarkets, food stores, convenience stores, drug stores and mass
merchandisers, EBT may have an immediate impact. All states are required
by law to switch food stamp programs to EBT by 2002. EBT will likely be
the predominate form of payment for this industry, with a potential for 93
million monthly transactions in the United States.
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Gift & Loyalty
 Retain
customers and increase shopping frequency with a Loyalty Card program
In today's competitive retail environment, the battle to retain customers
is fierce. The winners are those who establish and maintain one or more
competitive advantages in the minds of their customers. A Loyalty Program
is a powerful way to create a compelling reason for your customers to
prefer your business over another.
4 Ways to Profit with Stored Value:
Gift
Cards
A cash-generating product that doubles as a miniature "billboard" in
your customer's wallet. Card balances decline as the card is used
encouraging repeat visits and limiting cash refunds.
Loyalty & Membership Programs
Acquire customers and retain them, that's the goal. Now you can
automatically keep track of point balances and transaction activity
for a multitude of rewards and incentive programs.
Merchandise Credits
Cards can be loaded with the exact value of a product return for store
credit. Declining balance keeps cash in store by limiting refunds.
Advertising & Promotion
The marketing applications of stored-value cards are as wide open as
the imagination - from electronic coupons to co-branded cards paid for
by one or more merchant suppliers.
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ATM Scrip
ATM Scrip solutions include countertop and floor model non-cash ATM
machines that are a low-cost alternative to the marketplace that can
attract new business at the point-of-sale with value for consumers and
merchants.
 An ATM
Scrip solution works just like an ATM cash machine in that it allows the
merchant to have an unattended ATM style kiosk that dispenses a cash
voucher/receipt to be redeemed at the counter for goods or services, as
well as giving cash back.
ATM Scrip is a unique software application on the ATM network that offers
convenience, multiple banking transactions, fast access to cash, and
additional revenue opportunities for both the sales organization and the
merchant.
EFT
Telecom Systems offers a full suite of payment products including:
Works
with the following Products:
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