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With a few simple keystrokes, you can generate a check and deliver it securely and immediately via the web. Your payee receives a legally valid check that can be used wherever and whenever checks are accepted. And unlike technology advances that force users to change business processes or purchase new equipment, the VerifyValid™ service is completely compatible with the way you operate today. You‘ll still send and receive checks using your existing accounting system and checking account, but you‘ll use them in a way that is substantially less expensive and far more efficient.
In the world of checks, paper is simply a vessel for holding information. The real check is the data fields it contains: the check number, the amount, the routing number, the recipient, and most important of all, the authorizing action which says that the account holder agrees to pay the stated amount to the payee. The challenge in providing this information electronically has been implementing a verifiable authorizing action that prevents fraud.
Using patented fraud prevention technology based on a Trusted Time Stamp (American National Standard X9.95), VerifyValid™ now provides the critical framework for electronically validating checks. Online authentication removes the need for paper from the check process, giving checks their first major upgrade in over 200 years.
Monday, December 9, 2013
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