The Feature Helps in Reducing Fraud and Streamlining Cash Management
— Sabeer Nelli, CEO & Founder OnlineCheckWriter.com
TYLER, TEXAS, USA, July 20, 2023 /EINPresswire.com/ — OnlineCheckWriter.com, a leading B2B payment platform, offers the automated Positive Pay service to streamline cash management and boost fraud detection. This new feature enables businesses to inform their banks about issued checks, ensuring that only authorized payments are cleared.
“Our automated Positive Pay service empowers businesses to take control of their cash management and eliminate fraud effectively,” said Sabeer Nelli, CEO and Founder of OnlineCheckWriter.com. “Our platform seamlessly transmits the list of issued checks to the bank through various convenient channels such as API, FTP, and Excel sheet uploads, ending the need for manual notifications.”
When the check is presented for payment, the bank verifies its authenticity by matching the check number, account number, and dollar amount against the list of checks provided by the issuing company. Any checks that do not match the predefined criteria are promptly returned to the issuer and become “exception items.” In certain cases, the bank may seek permission to clear a check if it is considered valid and is immediately communicated to the client via fax or check image. The issuing company can then review the presented check and instruct the bank to accept or deny it, effectively minimizing exposure to fraudulent transactions.
“The platform ensures real-time communication with the bank, enabling immediate check cancellations and voiding,” he added. “By reporting issued checks in advance, companies can significantly reduce the risk of fraudulent activity.”
Zil Money Corporation, the parent company of OnlineCheckWriter.com, ZilBank.com, and ZilMoney.com, focuses on innovative business payment technologies. Sabeer Nelli, the CEO of Zil Money Corp, understands the challenges small businesses face, including insufficient funds and payment delays. ZilBank.com offers various features, including Virtual Card, Digital Visa Gift Card, Employee Expense Card, fee-free checking accounts for business owners outside the US, etc. The platform provides solutions for these issues, including various payment methods and integrations.
Esteemed platforms such as Sage, Xero, QuickBooks, Zoho, Gusto, Zapier, and Bill.com seamlessly integrate with OnlineCheckWriter.com. This integration enhances the payment process and improves the overall user experience. OnlineCheckWriter.com provides various payment options, including ACH, Credit Card Payments, Payroll by Credit Card, Wire Transfers, Wallet to Wallet Transfers, QR Code Payments, Checks, and Get Paid Links. Businesses with multiple accounts can easily monitor and handle transactions with convenience.
The Pay-By-Credit-Card feature provided by OnlineCheckWriter.com enables customers to make payments to anyone, regardless of whether the recipient accepts credit cards. The payee will receive the funds through a check, wire transfer, or ACH without incurring any transaction fees. This feature allows the payer to retain all their credit card reward points. Payroll via credit cards allows users to conveniently transfer funds from their credit card to their bank account and utilize them for payroll processing. This feature offers a dependable and effective payment processing solution, especially beneficial for small businesses facing cash flow challenges.
OnlineCheckWriter.com has become popular due to its user-friendly interface, competitive pricing, and unique payment services and earned over 7,00,000 registered users and over $50 billion in processed transactions. This user-friendly and reliable payment platform attracts thousands of customers to sign in with them daily.
Tahir Haneef
Zil Money Corp.
+1 408-222-8012
email us here
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