NET1 Virtual Check Services™

Safe and simple for consumers and businesses, NET1 Electronic Check Services moves payments electronically from your customer's checking account to your NET1 Merchant Account. This can be done by both Internet merchants and MO/TO merchants. This differs from POS check conversion /guarantee and check lockbox services (check conversion info).

NET1 Electronic Check Services is a true Automated Clearing House (ACH) product that requires no double entry or back-end check printing. It works like a paper check, without the additional costs and time delays. NET1 Electronic Check Services processes payments and displays real-time reports from any Internet enabled PC – providing convenient access away from the office.

Features and Benefits

Why Use NET1 Electronic Check Services?

  1. Consumers without credit cards can use virtual checks to purchase goods and services via the Internet or MO/TO.
  2. Checks are the most popular form of payment for both b2b and b2c.
  3. They are a secure payment alternative to credit cards.
  4. Virtual Check, in conjunction with the NET1 Gateway, can be integrated into your accounts receivable system to simplify your reconciliation process.
  5. The reject period is shorter for checks than credit cards.
  6. Recurring virtual check payments lower collection costs for businesses.

System Features and Benefits


Free Savings Analysis

Consumer Initiated Method (used by Internet merchants)

  1. Consumer enters data via website
  2. Transaction confirmation emailed
  3. Federal Reserve directs the debit and credit process
  4. Money moves from consumer account to merchant account

Federal Reserve Rules Governing Consumer Initiated Transactions


Merchant Initiated Method (used by MO/TO merchants)

  1. Merchant receives order
  2. Merchant enters data
  3. On-screen transaction confirmation
  4. Federal Reserve directs the debit and credit process
  5. Money moves from consumer account to merchant account

Federal Reserve Rules Governing Merchant Initiated Transactions

Free Savings Analysis