| |||||||||||||||
Categories |
FAQ: What Is E-check? |
Late News | |||||||||||||
![]() |
AllergyAnthelminticsAnti BacterialAnti ConvulsantsAnti DepressantsAnti FungalAnti ViralAntibioticsArthritisAsthmaBlood PressureCancerCardiovascularCholesterolDiabetesDiureticsEye DropsGastrointestinalHair LossInflammatoryMen's HealthMigrainesMuscle RelaxersNausea & VomitingOstheoporosisOtherPain MedicineRespiratorySkin CareStop SmokingThyroidWeight LossWomen's Health |
What is an eCheck?eCheck, a new payment instrument combining the security, speed and processing efficiencies of all-electronic transactions with the familiar and well-developed legal infrastructure and business processes associated with paper checks, is the first and only electronic payment mechanism chosen by the United States Treasury to make high-value payments over the public Internet.The Electronic Check:
Let's examine how eCheck works for the banking industry and the clients it serve. There are fundamental characteristics and differences between paper check, the eCheck and other Electronic Funds Transfer (EFT) transactions. eCheck will be an important payments instrument in transitioning businesses and consumers into the emerging world of electronic commerce. First, what is the eCheck?An eCheck is the electronic version or representation of a paper check.
How do echecks work?eChecks work the same way a check does.
Why use echecks?eChecks have important new features. They offer:
The eCheck:
What is eCheck technology?eCheck technology is software and hardware developed by FSTC members to:
eChecks are based on:
eChecks are designed to leverage technology capabilities that were not available as recently as three years ago. As technology continues to evolve, the FSTC will capitalize on new developments by integrating significant break-through technologies into the echeck's open architecture. How secure are echecks?eChecks are the most secure payments instrument or transaction ever designed or developed. echecks are designed to utilize state of the art security techniques of :
eChecks further enhance banking practices with added security so that even breaking the cryptographic protections would not necessarily allow a fraudulent transaction to be paid. Are echecks really checks?eChecks provide the best of both paper and electronic laws and regulations to bank customers:
What do echecks provide that will permit banks to sustain their leadership position in the payments system?eChecks:
Why will echecks lead the way?eChecks leverage multiple new technologies and will set the stage for other new products and services. At the same time, echecks integrate into today's business practices and coexist with paper check processing.
Conclusion
eChecks will succeed because eCheck meets real business needs and is based on the paper check - the most popular non-cash payment choice, and a core competency of banks. |
| ||||||||||||
![]() | |||||||||||||||