Online Check Payments

The online check allows online suppliers to easily accept and process check payments directly in CocoCommerce. Buyers who wish to pay by check simply select the online check option and enter the requested information. The interface is designed to look like a regular check, so buyers will like the easy-to-understand familiarity of this payment option. The buyer's account number, buyer's bank ABA number, name and address and other identification information are verified immediately and checked against various databases prior to the system notifying the buyer to proceed and finalize the payment. Once the buyer has completed the input and submits the payment, the data is encrypted and transmitted to a secure server for posting and processing by the supplier's bank. The system creates a paper check against the buyer's account and the supplier's bank credits the funds into the supplier's merchant account. CocoCommerce/e-ValuCheck's(tm) platform notifies the Supplier that the payment has been processed and thus the transaction with the buyer can be completed. Using this service will save the supplier up to 50% in processing fees compared to acceptance of credit cards. This payment method requires that the supplier's bank be a member in e-ValuCheck's(tm) program or that the supplier open a depository account with one of CocoCommerce's preapproved banks.