What can a third party processor improve for you?

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Streamlining electronic transaction processing

  1. Check Processing & Conversion
    1. Returns processing (Xcelerated Returns)
    2. Use of timely data to make important decisions
  2. BOC (Back Office Conversion)
    1. New Industry movement approved by NACHA
    2. Organizations improve efficiency and experience fewer check conversion errors
    3. Equipment expenses are reduced
  3. Credit Card Processing
    1. Customers expect it (increase customer satisfaction)
    2. Shop around for competitive rates, but look out for hidden fees... transaction rates and discount rates are not the only things to consider
    3. Look for a provider that can consolidate all payments (i.e. credit card, check, ACH debits) into one system
  4. Risk Management
    1. Identify that companies you work with are legitimate
    2. Before engaging in business, research valid tax ID numbers and registration in respective states
    3. Verify physical locations
    4. Confirm that you have signed agreements in place before processing payrolls, payments, etc.
    5. Uphold the same standards for all customers
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