CrossCheck Blog

Healthcare providers—whether they’re doctors, dentists, or veterinarians—share a deep emotional connection to their work. Picture this: a veterinarian faces the heartbreaking decision to turn away a sick dog because the owner can't afford the upfront costs or doesn't qualify for a credit card. The veterinarian is then left with a choice: either risk providing costly services, like lab tests and x-rays, without assurance of payment or send them elsewhere.

The only thing certain about the current economy is uncertainty. Economists are unsure of the future because, while inflation is stabilizing, unemployment is slowly rising. According to the U.S. Census Bureau for the Bureau of Labor Statistics, as of August 2024, the unemployment rate in the United States stands at 4.3%. That is only a slight increase from 4.1% three months ago but the trajectory points upward. As the Fed readies to lower interest rates following stabilizing inflation, economists are worried we could be headed towards a recession. Economists are by no means unanimous in their predictions but uncertainty abounds.

In the world of dentistry, healthy smiles are a top priority. But for many patients, achieving those smiles can come with a financial hurdle. The cost of dental procedures, especially orthodontics like braces, can strain even the most prepared budgets. As a dentist, you understand this, and offering flexible payment options is key to ensuring your patients get the care they need.

Let's face it, credit card fees can eat into your veterinary practice's profits. Between interchange fees, assessments, and potential chargebacks, those swipes can add up quickly. But what if there was a way to offer your clients flexibility while keeping your bottom line healthy? Enter the humble check.

For auto dealers, one crucial aspect often raises concerns – accepting checks for down payments. To ensure a sale, you want to provide customers with flexible payment options. This is where CrossCheck's Auto Industry RDC Solution (C.A.R.S.) program comes into play. C.A.R.S. is a suite of check guarantee solutions, which allows auto dealerships to accept checks for down payments without the risk of not getting paid. It includes RDC (Remote Deposit Capture) and Multiple Check, which lets the customer write up to four checks to be deposited at agreed upon intervals. Also included is Check on Delivery, which is especially valuable to the service department as dealerships can pre-approve payment of delivered parts orders.

Helping your customers during hard times can be difficult. It becomes even more daunting when the consumer needs to make substantial payments, like those incurred during an unexpected trip to the veterinarian, the auto repair shop, the dentist, or any number of sudden costs, while balancing other financial responsibilities. As a merchant, being able to offer the consumer an option to pay over time, could seal the deal. CrossCheck, a leading provider of payment solutions, offers Multiple Check. CrossCheck's Multiple Check service with Check Guarantee can make life easier for both consumers and businesses, and especially helps if a customer has already maxed out a credit card.

Auto dealerships often find themselves grappling with the dilemma of ensuring a smooth payment process while maintaining customer satisfaction. Surcharging fees on credit card payments can quickly complicate that process. As dealerships strive to strike a balance between profitability and customer happiness, embracing checks emerges as a refreshing and profitable alternative. And with CrossCheck in your corner, the inherent risk in accepting checks can be completely nullified with guaranteed payment.

Some people say checks are dead. For those who know better — such as people working in the financial services industry — the trivialization that checks are dead is pure fiction. On the contrary: check writing is still very much alive … and dare we say, quite profitable for merchants.

If you've ever wondered about the difference between check verification and check guarantee services, then imagine this scenario: a customer presents you with a check to pay for goods or services rendered. Whether you’re in the finance department of an auto dealership; a veterinarian caring for a sick dog; or a heavy equipment dealer receiving payment from a contractor building a new apartment complex, the payment you receive is crucial to the continued success of your business. You inherently trust the person giving you the check but you’d like to know – to whatever extent possible – that the funds will reach your bank account without any trouble. Trust…but verify, which is the very reason that check verification and check guarantee services exist.

It’s a rite of passage for many young fathers: buy a boat and take your kids out on the water to enjoy the sun and the rippling currents. Depending on their age, maybe even let them steer on occasion. And despite a difficult economy, that rite of passage seems an enduring tale.