Providing Total Check Solutions

Transcription

1 Providing Total Check Solutions

2 The American Checkbook Checks remain preferred method of non-cash payment at the Point of Sale Studies indicates trend will continue WHY??? Float Habit Record Keeping No credit/debit card

3 Retailers Check fraud Uncollected funds Employee handling Inefficient Increase risks Processing costs from bank Delays in funding

4 HOT Opportunity! Electronic Check Conversion! Less than 5% of retailers currently using ECC at the Point of Sale

5 Conversion w/guarantee egold Solution that Retailers are asking for! Promote as a Secure Payment Process and accept checks just like a credit card Guarantee of All Approved and Accepted Checks Check is Returned to Consumer Similar fee structure as bankcards

6 Conversion w/guarantee egold How it works 1. Merchant will swipe check through a check reader and input drivers license # and amount of sale. 2. When transaction is approved, a duplicate receipt will print and consumer completes receipt. 3. The check is stamped ACH Processed and check along with the receipt are handed back to the consumer. 4. GETI will fund merchant on transaction in 48 hours. (consumer still experiences a 2 day float) 5. Merchant will not be charged back for any returned checks (as long as proper procedures were followed)

7 Receipt Signature Printed Name Printed Phone #

8 Merchant Responsibilities Clerk must follow reasonable procedures Fax copy of complete receipt if requested Must be a personal check No Corp Checks, Money Orders, Line of Credit Checks, Payroll, Third Party, etc..

9 Unacceptable Merchants Criminal & Bankruptcy Attorneys Pawn Shops (without gun license) Used Auto Sales doing financing Adult Related Credit Counseling Gaming

10 Merchant Benefits No paper claims to file for bad checks Eliminates their bank deposit fees and any NSF charges Losses due to bad checks are eliminated Cost of employees time in handling, reconciling and depositing of paper checks Eliminates potential fraud, loss and theft of consumers paper check Consolidate deposits from multiple locations

11 Market Potential Multiple location merchants Large merchants Medium merchants Small merchants

12 Top 15 Merchant Types Using Check Conversion Dental Cosmetic/Beauty Supplies Auto Tire Stores Liquor Stores Jewelry Stores Auto Parts Stores Car Stereo/Cellular Phones Nail Products/Manicures Physicians Convenience Stores Barber/Beauty Shops Grocery/Supermarkets Clothing Restaurants Auto Repair

13 Prospecting Ideas Existing bankcard merchant base Specialize in one or two industry types and become the expert New business lists From County, State or Local Government Tax Licenses Liquor, Restaurant or Beauty Salon Licenses Internet yellow pages by merchant type or zip code Businesses that have signs posted NO CHECKS or NO OUT OF TOWN CHECKS (tourist towns)

14 Sales Lines Are you taking checks the old way or the new way? How would you like to accept and process checks just like your credit cards? You swipe the check and give it back to the consumer and you re funded electronically in a few days guaranteed? Have you seen the new Electronic Check Conversion systems? How would you like to have your customers checks electronically deposited so you didn t have to go to the bank?

15 Sales Lines 2 Wouldn t you like to lower your bank fees? You can now accept and process checks with the same security as a credit card for a lower cost! You can now accept checks and get paid electronically without worrying about bad checks!

16 Marketing Ideas Broadcast fax lists / software Associations Franchises Telemarketing Mailers Cold calling Go into smaller towns away from major metropolitan areas where merchants are usually more receptive and go business to business

17 Advantages over the Competition Merchant remains whole if consumers check is bad we will not take money away from merchant and then make them prove they followed guidelines Check writer will still experience a 2 day float before funds are withdrawn whereas consumers may not be prepared for programs that are real time

18 Advantage over the Competition Less than 1% declines at the POS No discount percentage charged on declines Free customer service and tech support Protected by electronic check conversion patent to ensure uninterrupted service ACH rules compliant No check imager required (micr reader OK)

19 Advantage over the Competition All services provided in house.. Processing Customer Service & Tech Support ISO Support Finance Underwriting & Risk Check Guarantee & Collections R&D Support more terminals/readers Not proprietary

20 Advantage over the Competition Online Reporting

21 Merchant Setup 1. Fax completed merchant application (refer to enclosed sample) Stop Payment Addendum if requesting 2. GETI receives application and approves within 2-4 hours 3. Download file built

22 Merchant Setup (cont) PARTIAL DOWNLOAD IVI 3000 Talento Verifone Omni s 1. Download bankcard and other first 2. Download GETI check program

23 Merchant Setup (cont) FULL DOWNLOAD Hypercom Nurit All check, credit, debit etc programs are downloaded at same time

24 Merchant Setup (cont) GETI to send Merchant Welcome Kit Terminal instruction guide ACH Stamp Point of Sale decals

25 Equipment Compatibility Talento Hypercom ICE 5500 RDM Imager Nurit , 3000 Hypercom T7 Magtek Micr Reader Omni 3200

26 Equipment Compatibility Verifone 3750 Verifone CR1000i imager

27 Equipment Compatibility IVI Check Manager 3000 (Stand Alone) P250 Printer (use with a Y cable to share with a Tranz 330 and IVI 3000) ValuePak 700 (Integrated Nurit 3000 & Welch Allyn Check Reader) Hypercom ICE 5700

28 QUESTIONS (egold)

29 Quick Service Program egold Designed for low tickets / fast checkout merchants Convenience Stores Quick Service Restaurant $50 high ticket / $25 avg ticket No discount fee (special per trans fee) No Drivers Licensed to input

30 esilver Electronic Check Conversion (72 hours funding) Verification against negative database NSF items automatically represented

31 Traditional Paper Guarantee Non-Conversion program Paper check deposited at merchants bank NSF paper check forwarded to GETI GETI reimburse merchant Check reader/imager not required

32 RCK (Electronic Check Recovery) Paper check deposited into bank NSF check forwarded to GETI Merchant funded 100% of face value if GETI collects No equipment needed! FREE service to merchants! ($10 minimum if 2 checks not received) Agent paid on NSF fees collected