Payment21.com – understanding the needs of international merchants

Payment21.com – Understanding the Needs of InternationalMerchantsPayment21.com’s Check 21 and ACH payment processing breaks through the boarders of doingbusiness internationally over the Internet.One of Payment21.com’s missions is to educate international merchants who are unfamiliar with theCheck 21 and ACH online payment processes, which accept bank payments from U.S. consumers. TheCheck 21 and ACH systems will allow these merchants to conduct business with U.S. consumersquickly and securely as never before and without the necessity of a U.S. bank account.It is virtually impossible for a merchant outside of the U.S to open a U.S. checking account. Those fewbanks that are willing to accept international merchants will most likely impose very heavy securitydeposits while inundating the merchant with seemingly endless amounts of paperwork, and ongoingrequirements to the point that most foreign merchants just can’t afford the account. Furthermore,U.S. banks most likely simply will not open an account for a U.S. merchant without a Social Securitynumber or an American subsidiary. In general, banks see substantial risk in dealing with foreignmerchant account holders. They incorrectly perceive that non-resident businesses will have higherthan normal return claims from customers. Also, banks are concerned about enforcing their legalremedies against owners of international merchant accounts. Payment21.com’s Check 21 and ACHpayment processes change all of this.Payment21.com is a Payment Service Provider, whose most recent offering is Internet CheckProcessing. This payment method allows international merchants to accept U.S. paper checks as aform of payment for goods purchased via the Internet securely and reliably by utilizing the FederalReserve Board’s Check 21 standard as introduced by The Check Clearing for the 21st Century Act(Check 21 Act). The company receives all transaction data from merchants and converts this data intodigital check images. The images are then cleared through the banking system then finally with TheFederal Reserve Bank. Simply put, international merchants NEVER need to deal with U.S. banks.Payment21.com takes care of all clearance matters and therefore, no U.S. bank account is requiredby the merchant. Payment21.com provides international merchants with financial access to morecustomers than any other payment method. Funds clear faster - same day or overnight. Check 21 andUCC governed. A much lower cost than credit cards.Payment21.com’s ACH (Automated Clearing House) Transaction Processing, their second paymentoption, quickly automates payments for your U.S. customers, who simply enter their checkingaccount details securely on the merchant’s payment page. The checking information is thenelectronically converted into an ACH transaction. One of Payment21.com’s strengths is focusing onprocessing electronic transactions. The company offers advanced services and personalized supportbehind every transaction. Payment21.com’s ACH Payment Processing is an excellent solution for

qualified organizations, reducing the time of receiving paper checks by 1 to 5 days. Depending onyour type of business and your check return types and/or averages, Payment21.com settles collectedfunds via ACH to your businesss bank account within 3 to 5 business days.Payment21.com’s Check 21 and ACH electronic check processing represent different transaction andbusiness models, and provide significantly different information flows, legal frameworks, and riskmanagement capabilities. This is actually a good thing, since it enables different products to meetdifferent business needs and market requirements. For more details on the main differencesbetween Check 21 and ACH transactions, visit www.payment21.com.Payment21.coms merchant approval policy is fully compliant with the Patriot Act. Due Diligence isdone on all merchants. In order to comply with AML-provisions, beneficial owners related to cross-border payments get identified however and more importantly, all information is protected by dataprotection laws.Whether it’s a Check 21 or ACH transaction, superior fraud protection and a payment guaranteeensures that Payment21.com has THE solution that will save international merchants money andenable more U.S consumers to buy from them.Visit Payment21.com’s newly designed, user friendly website at: www.payment21.com for moredetails.

Payment21.com – understanding the needs of international merchants

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Payment21.com – understanding the needs of international merchants Document Transcript