We have run a couple of ads for the new Electronic Check Processing, Inc., (ECP) product offering, so you've probably already heard about this amazing $39 deal. It's a unique electronic check conversion program, fully funded and warranted against closed accounts, NSF accounts, and other revoked items. It targets certain retailers óall previously hard-to reach, low-risk businesses. And the very palatable sticker price to the merchant is only $39 per month!
By now your interest is piqued, as ours was, and you will want to take a look inside the PrimeOption distributor kit that one gets after signing up as an ISA with ECP. It starts with a personable cover letter and a distributor agreement that lets the ISO know what he is in for and his responsibilities as an agent. It's laid out very simply and straightforward. The reward to the ISO for selling PrimeOption is a $5 per account residual, paid monthly by ECP. For the smart sales professional, this customer contact is a natural lead-in to capture MasterCard and Visa opportunities, as well as upgrade equipment.
The biggest sell for the merchant is that they will never have to deposit checks again. They simply slide the check through the check reader, and hand it back to the customer. If it happens to be a new customer presenting a check, the merchant will be prompted to write the customer's name and address information on the EFT acceptance receipt, once, and then hand back the check. The check is then either verified or guaranteed, depending on the option the merchant signed up for. The distributor kit lists the twelve merchant types presently allowed by ECP and completed samples of all the paperwork necessary to get the merchant up and running. A 13-point diagram outlines the conversion process from the time the merchant writes the check until deposited into the merchant's account or sent to ECP for collection. Laminated sheets display various options that will appear on the terminals and then provide directions as to what to do. A colorful "we accept checks" sticker with ECP's logo on it is provided for consumers to notice, promoting the use of checks, while warding off bad check writers.
Qualifying merchant types include pharmacies, beauty salons, bicycle shops, toy stores, bookstores, dry cleaners, medical facilities, health spas/clubs, restaurants, shoe stores, bowling alleys, and parking lots. There is an $800 per check maximum for medical facilities and bike shops; $300 for all others; NURIT terminals only at present time. For more information about PrimeOption, contact ECP at (800) 682-4355.
