Spotcheck™ Check Verification Software
Choose Spotcheck™ to set up your own check verification system using a regional database compiled from your own returned check inventory giving you complete control and data ownership. Spotcheck™ is an important part of your check collection software solution. Spotcheck™ can give your agency a cost-effective competitive edge in check collection business. Check verification can increase agency profits and reduce fraudulent and uncollectable checks. 
Spotcheck™ offers fast response time lookups by scanned MICR (via a check reader), manual MICR entry, or Drivers License, via merchant dial-in phone inquires from Verifone point-of-sales terminals. Spotcheck™ originally started up as a stand-alone account with our debt collections package just to work bad checks and later to transfer that log on to the collection package after a predetermined amount of time, 30-45 days, sometimes 60 days. All your cost factors can be associated with a spot check. Then it evolved into a true point of sale check verification product. This check verification product works on the Tranz 330 as well as other card terminals. The Tranz 330 uses a local dial tone at the merchant's site, dials in either a 800 number or a local number or which ever is pre-programmed into the host site. That host site then verifies that information against that derogatory file. That derogatory file then identifies if they have bad check outstanding which then sends a message back to the end host which is coded by name, who the party is and stops them from passing a bad check or the merchant from accepting the bad check. Unlike other check service providers, our hardware is not proprietary. All equipment we recommend is readily available and can be used with other vendors. Don't make the costly mistake of purchasing a system and equipment that can only be used with their service. Want to perform check verification with your customers existing Verifone equipment? Spotcheck™ is compatible with most credit card terminals. We offer a complete line of check verification features using Tranz 380, Tranz 330, XL 300, and Zon Jr XL terminals. Spotcheck™ accepts negative file information from your agency returned check inventory. And for greater coverage, you can enhance your system with daily shared updates from participating Spotcheck™ systems around the country. Spotcheck™ stops account closed, nsf, stopped payment, stolen checks and more. Denied checks display on the merchant terminal the reason code, and a portion of the consumers first and last names for additional verification. 
The system augments this negative check data with extensive information captured from each Spotcheck™ merchant inquiry. This positive check data is used to identify consumer check writing patterns. Spotcheck™'s velocity limits protect merchants from habitual check writers by limiting the number and/or dollar amount of checks a single consumer can present within a given period of time based on merchant preference. Velocity limits can be set by individual merchant, and group of merchants (ie multiple chain locations, mall or shopping plaza), providing greater flexiblity to meet merchant needs. Velocity warnings display the total quantity and the total dollar amount of checks presented by a consumer within the velocity period and indicate the velocity violation condition, allowing the merchant to decide whether or not to accept any additional checks. Each approved merchant inquiry generates a unique approval code offering security from fraudulent cashier approvals. Service fees can be assessed in any combination of ways including monthly access fees per merchant terminal, individual equipment rental fees, and per-inquiry fees with multiple quantity level pricing. Guarantee fee pricing for checks is also available for agencies desiring to offer guarantee services to their merchants. Features include:
Spotcheck™ has been protecting merchants nationwide since 1993. Call today for additional information or to arrange an online demonstration. Spotcheck™ can increase your agency profits. |
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