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Your Five Common Questions About eChecks Answered

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eChecks

As a business, you need to be flexible with the payment options that you offer to consumers. This will not only give you the competitive edge over other businesses but it will also help you speed up payment collection.

Aside from credit card payments, you can also use electronic checks or eChecks as a form of payment from customers. Some high risk merchant account holders prefer eChecks because they are safer.

Here, we answer five of your most common questions about eChecks and how they can benefit your business:

What is an electronic check?

In its essence, an eCheck or an online payment option where you can withdraw money from a customer’s checking account, move it to the ACH network and deposit it to your checking account.

To make this possible, you will need to apply for an ACH merchant account and the customer must authorize the payment by accepting your Terms and Conditions, signing a contract or through a recorded voice conversation.

What is an ACH merchant account?

The ACH network is a platform for funds to be distributed electronically among users. It is regulated and recognized by the National Automated Clearing House Association (NACHA) and the Federal Reserve (Fed), and it’s especially beneficial for businesses because it allows for faster transactions as compared to accepting traditional paper checks.

What are the steps to processing an eCheck?

Processing an electronic check is almost similar to paper check processing, only a lot faster. The first step is to request for authorization from the customer through a signed order form, recorded phone conversation or online payment form.

Once this is completed, you can then input the payment information into the software and submitted for processing of the ACH transaction.

The ACH network then withdraws the amount from the customer’s bank account and the software sends a payment receipt to the customer to confirm the payment.

Then, the network deposits the payment into your bank account, which takes within just three to five business days after the transaction was initiated.

Where are eChecks commonly used?

Electronic checks can be used in almost every type of online transaction, but they’re mostly utilized for big-ticket purchases and recurring payments such as rent, car, mortgage or even fitness gym memberships.

They are most popular in real estate where property managers usually ask tenants to fill out a recurring eCheck rent payment form that authorizes them to deduct the rent automatically from the tenant’s account every month.

What are the Benefits of using eChecks?

Electronic checks offer a lot of benefits both for customers and businesses. For one, they help reduce processing costs by as much as 60% and processing time is also a lot faster than collecting payments through paper checks.

You can also guarantee that transactions are processed safely with minimal errors and fraud because payment processors use heavy encryption and authentication before a payment could get through. Of course, you can save yourself the paper clutter by going for this paper-free option.

Though some industry, such as marijuana dispensaries, cannot use eChecks yet, this form of payment is highly sought after, even in today’s increasingly digital landscape.

So if you’re looking to expand your payment options for customers, an eCheck is definitely a good method to try.

Also Read: The Four Types of Payment Gateway to Choose for Your Online Business

An Engineer, Youtuber, Sportsman and National Level Shooter with a Taste for Technology and Gadgets. Loves to Review Tech and Play the Most Demanding Games out there.

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Technology

Hacking – A Fullstop On E-system

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Hacking

Hacking – A Fullstop On E-system

Passion or Madness: Now days, it has become a passion to learn how to hack. Some of us do it for the sheer challenge, some for the sheer love for learning and new technologies. Regardless of what the reason is, with every hack someone is trying to improve the technology we rely on.

There are many hacking related skills one can learn, depending on the person and the type of hacking they want to do. As there are many opportunities and facets to the hacking world, it makes it complex to learn all things related to it.

But, it is never too late if you have the right information and the right techniques. In order to make sure that you have all the information you need, you can always study and learn hacking. The best part of it all is that, for all you know, you can be the next hacker that redefines the way we think about security.

Mentoring: There are many opportunities available for collaboration and snooping on hackers. If you have an interest in snooping on hackers or have the opportunity to learn from them, consider taking a class or participating in a workshops. You might be surprised how much knowledge they have about the technologies they use… and you can use what you’ve learned and put it to good use.

Sniffer: We have tools now that can let us track IP addresses. We can also tell how far away the IP address is from us, and we can sniff for firewalls, viruses, and other threats. We can also reveal a lot of other information about the person/company that we are dealing with.

Cache: We refer to the temporary files that store all the information that has been fetched over the net. Actually, the term ‘cache’ is a bit misleading. The information is not stored in order and there is no order to it. The information is usually stored in memory and while it is loading it is also stored in a temporary location so that it is not immediately discarded. The temporary location is emptied when the request for the information is finished and then the information is discarded.

Many hacking tools use a variety of modes of communication Protocols (Speakers, Morse code, Direct Sensing, etc.)

Protocols

•http which is a general term used for HTTP/ActiveX and often used by many InternetBrowsers, presents significant security risks. It is a specification supported by the Internet Engineering Task Force (IETF) and is responsible for the functioning of the World Wide Web. The primary concern of the IETF is the transfer of files and processes over the Internet.

The subsequent technologies, which are often but not always classified, follow between HTTP and TCP/IP and SPI.

Internet Protocol (IP)

•IP over SSL

• Internet Protocol (IP) is a set of protocols that offers Internet users the ability to communicate online using the TCP network. The IP protocol applies resource sharing and addressing methods among the computers on a network and is responsible for the flow of information exchanged during online transactions. Online users consists of computers that have been granted access by an Internet service provider (ISP).

Online Systems Management (OSMP)

•http://security.symantec.com/sscv6chery/hosts.htm

•http://www.cert.org/vul_notes/VN219|

o Virus Bulletin No. 9110 provides updates on viruses that are specific to the Microsoft IIS 5.0 Extended Validation SSL Certificate. This Microsoft SSL certificate enables you to secure private data that pass through, including documents, e-mail messages, and on to databases, which store user credentials and other private information. This certificate also enables your site to display a secured page now and later, when your users click a protected link.

The CSR data must be verified and properly transformed in the digital object before it can be authenticated and then encrypted. Therefore, to access the signed certificate, the user must have the Bit-Authentication turned on for the Microsoft Exchange 2007 Online Explorer (E), which comes with the SSL functionality.

Effects of Certificate Fraud

A fraudulent Certificate could cause several problems for the user. The certificate could be fraudulent in the sense that the name of the sender or any essential part of the signature block is misrepresented or false. Physical inspection of the AIA may also be performed by an authorized third party, such as an auditor, in order to confirm the fact that the web site is legitimate. If SSL authentication is possible and has been enabled on the site, the browser will display a padlock and indicate that an SSL certificate is secured.

Reasons to Prevent Certificate Fraud

The instances of certificate fraud may be reduced if users and businesses implement evolving strategies and are informed about how the security process & monitoring mechanisms work.

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Technology

How To Avoid Spyware Before It’s Too Late!

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Spyware

How To Avoid Spyware Before It’s Too Late!

Unfortunately, most people don’t pay much attention to the threat posed by spyware until their level of infection has become acute and their private information has been compromised. The final result is that they become subject to an identity theft attempt. New methods of attack are being developed all the time and you need to get up to speed on the subject and stay informed of changes as they occur in order to know how to protect yourself.

First of all, if you are a careless surfer you are living dangerously and eventually you will get nailed. The smart thing is to set your computer environment up with a secure defensive perimeter and to prevent unauthorized access to your computer and check out any personal information that you have stored on your hard disk. If you surf the web, open attachments or use peer to peer applications then you risk being victimized.

The statistics are staggering and reveal just some of the tremendous amount of personal information that is present across the internet. According to requirements imposed by the federal government, we can all be traced back to our IP address. With that information in the wrong hands, a lot of people have a lot of problems.

The only solution is to minimize your risk of exposure. This requires you to be careful about the type of information that you divulge while online. Don’t assume that you can just offload your personal information to sites that are willing to accept financial information. Sites that are willing to acquire your information will have an address that you can contact them to confirm their legitimacy.

Other risk factors include file sharing programs, so you should download and install programs like the well-known P2P file sharing programs like BeXTRA or CoolWebSearch that help you keep your computer free from harmful viruses, hackers and worms. Surfing anonymously will also help keep your privacy since no one will be able to trace you and your actions.

Why should you risk it?

Secure surfing is one of the best ways to protect your identity and personal information. It’s not hard to understand why most people begin to take a liking to the idea and begin to make regular trips to the local library to surf the internet and download files. The truth is that they should avoid these activities because it is possible that they are the victims of online thieves.

The trailblazing technology of today has helped to make the whole process much safer and understanding students to use the internet and avoid harmful viruses. However, these efforts have not been able to totally rid the internet of its infamous reputation as a source of crimes and victim of fraud. Users that have criminal intent will never be able to track you using your IP address because mobile malware and other malicious programs will also be unable to track you.

Using this technology will also help you to stay protected since you will be able to encrypt your data which will render it totally unrecoverable once it is deleted from your computer. There are numerous applications available when it comes to protecting yourself from cyber crimes; one of which that is available is the IP hiding software. This software enables you to surf the web undetected through the IP address of origin. After the IP address is hidden, the site you visit will pretend to be from the computer you are using.

This is because the site is actually acting as a proxy server; one that originates from the computer you are using. If you are currently using a site that you are not sure of, then visit a local library or search online for a few reviews about the product.

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