WEB, TEL, CCD & PPD solution for eCommerce batch and recurring payments.
PayZang provides best in class transaction. Fraud & risk management services.
Automate credit card & ACH payments. Integrate with fraud management tools.
PayZang Check Verification
CheXshield is the proprietary composite Check Verification System from PayZang, and is designed to make certain that checks are verified and validated in real-time. The purpose of the system is to reduce check returns, and in many cases, eliminate their occurrence altogether.
The following features make up the backbone of CheXshield:
Technology that is best in class
Multiple Data Sources
Continual Returns Analysis
Business process advice to reduce returns
Real time results
Tightly coupled monitoring and scrubbing of returns
CheXshield Data Sources:
Core: Businesses and consumers writing checks for services, goods and to make payments
PCA: Consumers who need to cash government, tax and payroll checks
Gaming: Patrons writing checks for cash to use in gaming establishments, such as casinos
Other: Internal and External Data Sources
331 million consumer records with more than 120 factors regarding check writing behavior
200 million consumer records with name, address, phone number, date of birth, DL, SSN, ABA/Account Number and more
Positive Database: 44 million individuals with a positive check writing history
Positive Payroll Database: Over 20 payroll banks, service providers, employers and payroll tax providers with positive pay files contributed.
Negative Database: More than 33 million individuals with check claims that are unpaid
Access to positive information on about 60% of U.S. bank accounts and negative information on about 90% of U.S. bank accounts.
LexisNexis & Equifax: Identity verification details on most consumers
DMV Files: Various states, which can be used for ID verification/validation, updated upon weekly