After 30 years in the check processing industry we have certainly seen many trends come and go. Just 10 years ago who would have thought that customers would swipe their “smart” phone over a payment terminal to complete a transaction? Back then nobody knew what smart phones were, let alone the still-nascent Near Field Communications (NFC) technology.

Despite the proliferation of digital payment methods like NFC, check writing remains an important payment type for most merchants and check guarantee services provide business-critical risk mitigation that can increase sales and minimize costs.

Check guarantee might be the missing ingredient your business has been looking for to dominate your competitors, but we tend to hear the same three objections over and over:

1.      “We don’t receive that many checks.”

Okay, but you do receive some. That makes sense because according to the 2013 Federal Reserve Payments Study “18.3 billion checks were paid in 2012, with a value of $26 trillion.” Who is writing these checks you ask? Baby Boomers, who control 70% of American household wealth and who have 70% of disposable income, and people who earn more than $150,000 a year --  that’s who.

Does that matter to you? Auto dealers, medical offices, building suppliers, home furnishings stores and other businesses ringing up large amounts for a single sale accept a number of high-value checks.

If you’re running a business like that and you tell a customer that you don’t accept checks, you may lose the sale. And you know that one lost sale to a competitor can be crippling to you – now and in the future.

Picture this: You are an auto repair shop that installs new brakes for a customer and they prefer to pay by check, but you don’t accept them. Fast forward two months later and that same customer needs new tires. But instead of returning to your shop to get their fresh set of wheels, they take their vehicle to your competitor down the street who does accept check payments. Not only have you irritated them by forcing them to pay with an alternative payment method the first time, but you could lose them as a customer in the long run.

2.       “We already have a check service provider.”

That’s great, but now the question becomes one of value. Ask yourself:

• What percentage of checks do they approve?
• How complex is their claims process?
• Is customer and technical support free of charge and available 24/7/365?

Do you get a sinking feeling in your stomach when your verification service rejects a customer’s check and you have to face them and decline it? Most merchants find it extremely uncomfortable to tell their customer “no” and risk losing the sale and the potential relationship. Since no check processing company has access to bank account information to confirm that a check is good, all of them must rely upon public data. But only one has thirty years of experience, proprietary algorithms, and the highest check approval rate.

Our standard check guarantee approves out-of-town, out-of-state, and checks from Canada and U.S. territories. And if an approved check goes unpaid simply mail the returned check to us in a claims envelope and we will fund you within 30 days. This quick and easy process allows your account to remain whole with no loss to your bottom line. Want it done faster? If so, with no claims submission process, remote deposit capture is for you.

Many businesses operate on weekends and even holidays, too. Because of that reality check service providers should be available at all times. For over 30 years we have developed many long-term customers that appreciate our support staff ready to assist them 24 hours per day, 7 days per week, 365 days per year. This support helps these businesses close sales and earn repeat customers.

Imagine this: It’s Saturday, you’re a home furnishings merchant, have a check-paying customer, and the check terminal starts malfunctioning or shuts off completely – and technical support is closed until Monday. Now, you have a line of customers getting increasingly irritated by the minute while you hastily try and fix the terminal without expert help. You end up losing the sale because the check can’t be run through and other customers wish to pay by checks as well.  All of this may be avoided if your provider was available to remedy the situation. No merchant should ever be faced with that scenario.

These are all important questions to consider when evaluating your current provider and cash flow consistency.

3.      “We’ve been burned by a check service provider in the past.”

Nobody likes to be burned. Fee structure confusion, muddled expectations, frustrating rejections, equipment errors during a big all-night weekend sale – since checks are so critical to our customer’s businesses we’ve heard all sorts of stories. And we feel for you.

Accept more checks with confidence. Earn a better return on your payment processing investment because… We also provide no-cost loaner equipment which eliminates the need to purchase terminals and gets you up and running with check guarantee in no time. Furthermore, our Multiple Check service offers a win-win scenario because you received guaranteed payment and customers enjoy a flexible payment method. These two factors can increase your sales, reduce costs, and minimize payment risk.

Protect your cash flow from returned checks, relieve your staff from time wasted collecting on customers’ debts, and never worry about accepting checks again. Get the skinny in this insider’s guide.