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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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Understanding The Requirement For Valet Parking Systems And Management

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Valet Parking System

Technology is making lives easier across the world. The dynamic features of digitally powered Valet parking systems and management are taking over the hospitality world by storm. But why is valet software getting so much appreciation from both businesses and customers? The reasons are varied, right from the system being automated and having inspection lanes to customers no longer having to wait for cards or misplace tickets because the valet software has a prior vehicle retrieval process and a ticketless valet system. Let us take a look at why Valet parking systems and management are required and how they have changed how we perceive valet parking entirely.

Eliminate Manpower and Reduce Labor cost

By purchasing Valet parking systems and management, you are no longer in need of manpower such as valet boys. All the tasks previously assigned to different valet boys can now be done by the automated valet software itself. This will not only eliminate the workforce but also save a significant amount of your money which otherwise you would have to invest in terms of salaries and maintenance of staff. Valet software will no doubt be a lifesaver for those business owners who are having a tight budget, and revenue hasn’t been great lately. For them, this substitution will be saving them a significant amount of money by reducing labor costs.

Maintain Records with a Photo-based System

This feature saves businesses from becoming victims of false and fraudulent claims made by customers. People make such claims in hopes of attaining some monetary compensation for the damage done to their vehicle when they were in the hotel.  But with Valet parking systems and management, right from the time any vehicle is stepping into the premises to the time it is exiting the property, everything is available in the recording. In addition to that, efficient valet software captures photos of any vehicle before it goes into the parking lot with time and date stamped on the picture to ensure there are no false damage claims made on the building authorities by the vehicle owners.

Touch-Free Vehicle Retrieval Kiosks and Payment operation

With Valet parking systems and management, you don’t have to worry about paying the valet staff in cash because the mobile-friendly payment option installed in the software allows customers to make swift payments even without having them download any app on their smartphones. All they have to do is make payments through the various digital payment modes available including credit or debit card transactions. Customers can make online payments in the most secure and protected way possible through these valet parking systems.  Even after this, if customers have doubts regarding the safety of their online bank account, they can make payments through the valet payment kiosks set up by the Valet parking systems and management for hassle-free and fast payments.

Customers who wish to set retrieval time for their vehicle either contact the building authority through the Valexa (valet software powered by Alexa). This streamlines the entire retrieval process making it extremely convenient for the customers and also for the authorities to manage their customers.

Increase Revenue in the Long Run

Customers will be drawn to your business knowing you are only using the best class Valet parking systems and management to help ease out the unruly chaos at the entrance of the property. Your business will receive more revenue as more customers will be visiting your property and enjoy the highest quality of customer service that any business owner in the hospitality industry can ever provide.

It offers the Best Customer Service and Enhances Satisfaction

When you are in the hospitality business, making sure you are receiving positive responses and appreciation from the customers is one of the key factors that will determine your business’s profits. So when you are purchasing Valet parking systems and management, you immediately eliminate long hours spent by customers on waiting and even reduce the time spent on billing and ticketing for the parking when they are on your property. This will smooth out the process, and when the start of their experience is smooth, achieving positive responses from customers will not look like a challenge anymore.

These are all the reasons why Valet parking systems and management are becoming popular and are in demand. With so many needs getting fulfilled for both the business owners in the hospitality industry and the customers, Valet parking systems and management will remain a success in the future.

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Technology

Home Improvement Ideas for 2021

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Home Automation Systems

With most people in the world spending vastly more time at home than before, change is inevitable. Spending lots of time at home allows people to examine their surroundings and want to make modifications.

2021 is an excellent year to brush up on your passions, and home improvement is no exception. With a little innovation and dedication, you can quickly transform your house into a home. With the rapid advancement and growth of technology, smart homes have become irresistible.

Home improvement ideas have to embrace technology to keep up with the global home automation trend. Here are home improvement ideas you should contemplate.

1. Entertainment

Home entertainment and entertaining visitors will most likely be a spotlight of home improvement ideas for 2021. With entertainment outlets such as pubs, restaurants, and cinemas closed to the public, you could host get-togethers with loved ones in your own home.

1. Home Audio

Enjoy the sounds of a live music festival from the comfort of your home. Music lovers can savor music in their house or their backyard. You will need to contact a professional integrator to install a comprehensive distributed home audio system that includes both indoor and outdoor speakers.

It is worth noting that professional installers usually use in-wall and in-ceiling speakers for distributed audio. This will keep your home aesthetically appealing without disarraying your spaces with wireless speakers.

2. Wi-Fi

Almost every home entertainment system in this century is dependent on coherent, dependable Wi-Fi. If you live in a bigger house or if your internet connection is prone to irritating dead zones, it will greatly impair your streaming experience. The glaring solution is to upgrade your conventional router-based Wi-Fi to a mesh Wi-Fi system.

Since Advanced Network Assist technology is in-built, the mesh network is optimized in the background without the need for user intervention. Besides, with its family controls, mesh Wi-Fi allows you to monitor and manage your children’s Internet activity, which is a classy bonus.

2. Security

Home security has to be the epitome of home improvement ideas for 2021. A smart security system can do more than just alerting you whenever a burglar attempts to enter your home. It connects entry sensors and sirens to devices such as smart door locks, smart thermostats, and smart lighting through your Wi-Fi network.

These are the key features your smart home system can entail.

1. A Home Alarm Security System

Your first step in protecting your home will be to install a smart security system. Have a smart system to protect your entry points and inner levels of your home such as the hallway. Also have at least one smoke detector which can be in the kitchen or hallway. If you reside in an apartment complex, have at least a smoke detector on every level.

2. Smart Lighting

Additionally, lighting will deter intruders. Getting lights that are programmed to turn on and off at odd intervals each day will help to protect your house while you are away. Better yet, you can opt for security lights with surveillance cameras. As a result, anytime someone approaches your home, the camera lens will record a video of the person. This will assist you in either taking precautionary measures or later viewing the footage.

3. Cleaning Devices

We all know that a clean environment leads to healthier, happier, and more productive residents. Nevertheless, cleaning can be stressful at times. Most, if not all, of the work, can be done by a variety of tools and devices. Although some of them may require some initial configuration and getting used to, they will save you time and effort in the long run, and you will recognize the difference.

1. Robot Mop

Hard flooring, such as stone, hardwood, and tile requires mopping. A robot mop will penetrate the difficult-to-reach areas such as beneath shelves and around toilets and sinks, ensuring that every inch of your house is spotless.

Based on the type of pad you connect to it, the mop will automatically select the ideal cleansing method be it wet mopping, damp sweeping, or dry sweeping.

2. Toilet Bowl Cleaning System

Forget the days of routinely scrubbing your toilet. Contrary to bleach tablets dropped into the tank which can damage your septic system, the toilet bowl cleaning system directs a cleaning solution into the overflow tube of the flush valve, ensuring that no contaminants ever come into contact with the fill valve.

3. Automatic Carpet Cleaner

A carpet stains easily and is generally strenuous to clean. This mobile carpet cleaner is especially popular among pet owners for saving the day after an unexpected accident. With the push of a button, it instantly sprays, brushes, and suctions to eliminate all surface and set-in pet and tough stains.

Conclusion

Indeed, with the modern home increasingly becoming automated, you need to adopt the best home automation systems to monitor and control components of the home such as lighting, entertainment systems, and other devices.

Also Read: The New Revolution: Valet Parking Software

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