What is Virtual Check Processing?
Virtual Check processing is the act of depositing or transmitting check payments electronically. Once a customer submits a payment, the merchant transmits the transaction to Virtual Check’s virtual terminal for check authorization before the payment reaches the merchant’s bank account. This means the payment is verified beforehand, resulting in no losses for nonpayment and no bank fees for failed payment. Virtual Check makes processing checks fast, easy and secure, and the merchant receives fund clearance much sooner than traditional methods of paper check processing.