Check Conversion

Cable and Utility organizations typically accepts check through multiple payments channels. Our hybrid solution converts and deposits payments taken at the service counter, at a kiosk or IVR and through the mail with one easy desk top or Web-based program. Payliance ensures a fast, reliable transaction depositing funds into your bank account the next business day. Returned items are electronically resubmitted to improve cash flow and reduce client disconnections. Each Cable or Utility client chooses the degree of recovery assistance that is fitting for their business and integrates with regulatory requirements. 

How it works:

• You accept checks at a service counter, drop box or via mail
• Over the counter checks are verified utilizing our proprietary database
• At the end of day or shift, checks are scanned at a central location and sent as an electronic deposit
• Items can be batched according to payment channel (e.g. drop box separated from walk-in)
• All returned items immediately enter the recovery process, improving recoverability

Benefits:

• Multi-channel needs are serviced through an integrated solution
• Minimizes churn and disconnects by reducing bad checks
• Enables same day deposits up to 6:00 pm
• IVR and Web channels accept payments 24 hours per day
• Custom risk solutions minimize high risk channels (IVR, Web)
• Eliminates bank fees — driving savings of 2 to 4 cents per item
• Reduces cost per returned check of $2 to $5
• Improves funds availability — funds are typically available in 24 hours
• Faster return information — knowledge of fraud within 48 hours after settlement
• Typically saves 1 percent as compared to credit card acceptance
• Electronic deposit accelerates cash flow and reduces labor associated check acceptance