POS Check

It is estimated that over 19 billion checks are written at the point of sale each year. For merchants, paper check-handling costs and losses were estimated at approximately $23 billion last year- an average of more than one dollar for every check written at the point of sale.

The benefits of installing a POS check conversion solution can be measured in real economic terms. Some of these benefits include reduced check losses, improved collection of returned checks, simplified cash management, and increased efficiency at the point of sale. Considering all factors of cost and efficiency, check conversion is substantially advantageous to traditional check processing.

EnCircle is proud to offer an array of solutions designed to electronically accept checks at the point of sale effectively decreasing costs and lowering check acceptance risk. These solutions allow financial institutions , check service providers, and merchants to enjoy the many benefits associated with electronic check processing.

Corporation/ Merchant Benefits for POS Conversion:

Reduces check-processing and handling costs by converting personal checks to electronic transactions as checks are received at the point of sale.
Automates the ability to electronically process return fees - eliminating the need for negative customer contact for return fee payment if a check is returned.
Lowers check losses by retrieving online authorizations, and settling transactions via ACH or on-line debit which clear prior to paper checks
Speeds up checkout for customers and end-of day closeout for sales staff.

Provides more efficient clearing and settlement, and faster funds availability.
Further reduces losses by providing additional options for guarantee and collection services.
Improved check reporting capabilities - Immediate detailed reports available through each point-of-sale terminal and EnQuire Reporting.

Financial Institution Benefits for POS Conversion :

Acquiring Bank:

Expands current product offering for electronic payment services (credit, debit etc.,)
Adds a new source of revenue from check processing transactions to augment highly competitive card processing services.
Improves competitiveness in the market by creating a new, high-value product to offer customers.

Treasury and Cash Management:

Expands reach for check deposit activity from merchants that are outside geographically located bank branches.
Increases ACH volume and decreases paper handling requirements.
Improves competitiveness in the market by creating a new, high-value product to offer customers.

Consumer Benefits for POS Conversion:

Speeds up checkout at the point of sale
Improves security, since checks are returned back to customers during the transaction process.
Provides check transaction details that will be included on the consumer's monthly checking account statement.

EnCircle Certified POS Solutions

Please Click on product's photographs for its detils.

EnCircle Stand-Alone "Check Only" Solutions

IVI eN-Check 3000

VeriFone - Omni 396, PrintPak 350 and RDM EC5004i

Integrated Check and Credit Card Dial Solutions

VeriFone - Omni 3200 and CR1000i

Visa POS Check Dial Solutions

MAGTEK Mini MICR and Hypercom® T7P

RDM EC5004i and Hypercom® T7P

VeriFone Omni 3200 and CR1000i

EnCircle Multi-Lane Retail eCheck@POS Solution

EnCircle has developed the "stand-beside" server based software solution to work in environments that are looking to pilot point of sale check conversion, and those interested in installing a more permanent solution.

EnCircle Multi-Lane eCheck@POS Hardware Options

Epson TM-H6000II, VeriFone PINpad 1000 and CR1000i