An Overview of eCheck Payment Processing
MyPayment Guru is a leading eCheck Payment Gateway provider based in India for all type of industries either high risk or low risk. We have exclusive eCheck payment solution for all size of businesses. We give an edge to accept eCheck payments through their online web portal. With our eCheck payment processing solution you can process transactions through the virtual terminal, over the phone and point of sale. In addition to other payment methods like credit card.
Many merchants miss the opportunity to earn more revenue due to lack of flexibility in payment methods. So increase online revenues with flexible payment options provided by MyPayment Guru. Our flexible eCheck payment solution offer an alternative to credit cards. Consumers feel confident when they find multiple payment options at the time of payment and love to do shopping as per their convenience. Online business sales are affected negatively if a consumer does not get the preferred payment options. Merchants are benefited if they provide eCheck payments option along with credit card. It is the good option for the customer who prefers to pay through check.
What will be the charge of eCheck Payment Processing?
Setup cost: No Setup cost.
Rate or TDR: Rate is also known as MDR (Merchant Discount Rate). This rate is being charged from the PSP or bank to process echeck payments for Indian or International merchants this rate goes up to 15% depending on the risk factor of the business. Our rate is always unbeatable with genuine echeck solutions.
TXN Fee (Per Item): This is a fixed cost being charged by the PSP for ACH. This amount will be charged for each check transaction sent by the merchant to PSP. This fee goes up to $3 per item.
Rolling Reserve: Rolling reserve a particular amount hold by the Processor/PSP for security purpose, Rolling is always 10% of total sales for 6 months. Merchant will get this amount back after 6 Month respectively.
Monthly fee: No Monthly Fee.
Payout Cycle: Payout cycle for check gateway is weekly with one week arrear or Payment of approved check from Monday to Saturday will be paid on Friday.
Return Fee: In case of returning a check for any reason such no enough fund in the account or stop by account holder…..etc. This fee is $35.
Wire Fee: Wire fee is being charged by the PSP while sending the fund to your bank. This fee is about 50 USD on per payout basis.
You can get eCheck Payment Gateway approval within 5-7 days. After getting live gateway details, you can integrate it on your website and start accepting eCheck payments.