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Check Guarantee Plus Sales Benefits

Posted by Joe Gargiulo | Fri, Mar 31, 2017 @ 06:45 AM

check guarantee

A day in the life of a CrossCheck field sales person sometimes mimics the fast pace of a certain counter-espionage series that dominated television for a number of years. That one-hour program always began with the words, “the following takes place between 10:00 AM and 11:00 AM” or whatever particular hour was being framed during the episode.

CrossCheck field sales representatives don’t carry weapons, but they are armed with the latest information about check guarantee services.

For example, they might have an appointment with the finance director of a large auto dealership chain one morning. They are meeting between 10:00 AM and 11:00 AM, of course, and they are ready for any or all challenges.

check guaranteeThe finance director is quick to point out that she is already locked into a contract with one of CrossCheck’s competitors, so she is effectively kicking tires. Nevertheless, CrossCheck sales reps are confident in the CrossCheck product line, so they welcome the opportunity to demonstrate check guarantee services of relevance to particular merchants and verticals.

They know that CrossCheck is all about delivering merchant value, including mitigating risks and simplifying payment processing. In this instance, they also know that CrossCheck’s Auto Industry RDC Solution was specifically designed for auto dealerships. C.A.R.S. has helped thousands of dealerships accept more checks in conjunction with a future deposit function called “Multiple Check,” Check on Delivery for the parts and service departments, 24/7 online reporting, and other functionality.

The finance director is impressed with all of CrossCheck’s services, and expresses disappointment because too many checks are being declined by the competition.

Across the board, the entire chain is experiencing a 10% rate in declined checks that are resulting in lost sales and disenchanted customers. Naturally, those unhappy customers blame her dealerships rather than the payment processing company behind the curtain. They are not buying vehicles because their checks are being declined.

“I love what your company stands for,” she tells the CrossCheck sales rep, “and I wish our stores weren’t already committed to another company.”

Both parties breath a heavy sigh of disappointment.

Simple math tells the story. If one store is losing 10% of its 200 units sold per month average (i.e. 20 units), then each store is losing approximately $673,320 for each month that it is under contract with “the other guy” (using Kelly Blue Book’s March 2016 industry average of $33,666 per unit).

Despite the momentary gloom, the CrossCheck rep points out that “we do have one solution worth considering in these situations.”

The Ultimate in Check Guarantee

That solution is called Plus Sales and it was designed as the ultimate backup plan for merchants locked into existing service agreements.

Plus Sales does not require any additional desktop equipment and is only used if and when checks are declined by other check guarantee companies.

The process is rather simple. Merchants phone CrossCheck’s around-the-clock customer service authorization line or visit the CrossCheck website to garner approval. Transactions are completed at the point of sale, and another happy customer takes home a new vehicle.

If checks are ever returned “unpaid” from the bank, then dealerships simply send them to CrossCheck for processing and reimbursement under the warrantee guidelines.

Ironically, some auto dealerships claim that “we don’t get too many declined checks, only the really large ones.” This statement makes sense given that accepting larger checks for more expensive autos carries more risk, but how much sense does it make to lose large sales opportunities because of one declined check?

Processing checks is all about assuming risks, and CrossCheck is committed to making sure those risks don’t fall upon merchants. Risk is a cornerstone of the CrossCheck business model and being successful at risk management is how the company has remained an industry leader in payment processing since 1983.

Interested in check guarantee plus sales benefits? … Learn more by downloading our free guide to Plus Sales.

Plus Sales Check Approval Program Guide 

Topics: Plus Sales

Written by Joe Gargiulo

Marketing Specialist Joe Gargiulo has 25-plus years in marketing, communications and copy writing. As a writer, he enjoys connecting story leads to all aspects of the human experience.