Introducing VerifyValid and CheckItOut - A New Way to Pay (and Get Paid!)
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Transcript of Introducing VerifyValid and CheckItOut - A New Way to Pay (and Get Paid!)
A Michigan Company
VerifyValidA check but smarter…
Current Check Cost
Ink Check stock Printer
Envelope Postage Mail
Postal Service Delivery
$1 per check in savings
using VerifyValid!
Save $1000’s with VerifyValid checks- Create and send 1-10,000+ checks in 3 clicks of a mouse
Internet
Sender… “Your Check”
Receiver… “Their Printer”
Single Check
Check Run
VerifyValid’s Single check and Check run, match up to traditional paper check usage.
VerifyValid’s Check Import
CSV file sample
Import your checks and remittance directly
via a CSV file.
3 clicks to issue your checks!
The VerifyValid Check
Page 2 Remittance
Separation of Control
Assign who can create checks and who would sign the checks
No remittance
again?
Check scanner jammed!
It’s unreadable.
300Checks on
Monday
Interchange feesEnvelope
opening
A/R Headaches
VerifyValid Lockbox
Export Remittance
Export Remittance
Deposit Check via RDC into your Bank
account! Or Print
Deposit Check via RDC into your Bank
account! Or Print
Additional Lockbox Benefits…•No opening envelopes•No waiting…instant delivery•On Screen Accounting
Check Received
Save 70% of the time in normally takes to processa traditional check and remittance!
RDC Remote Deposit Capture
deposit
VerifyValid Queue
X9.37 check image and deposit slipCreated by the
system
Bank grabs RDC file from
the VerifyValid Queue
Bank validates file before
putting the RDC file intotheir Queue
After the file is validated,
funds are deposited into
the user’s account
STARTFINISH
Only VerifyValid checks enter the RDC!
Export Remittance data as a CSV file from Lockbox
Lockbox saves you time and reduces your costs, but it can also minimize remittance float and provide a solution for receiving checks. Moreover, the timely and accurate data we make available online will help you update account records quickly and provide even better service to your customers.
All checking accounts are authenticated by the owner at the time of enrollment usingan industry standard secret deposit process.
Authenticated checking accounts
There can be only one check!
Every check has a routing number, check number and account number. There can be only one combination of these created by our system.
+Add to it the check amount and the Pay to the order of information
= a Digital value
The Cryptographic Time Stamp = Digital value (from check) X Cryptographic Algorithm X Time (constant)
Based on Patented Technology!
VerifyValid’s system creates a Cryptographic Time Stamp for every check created. When a check is verified we create a Cryptographic Time Stamp that is compared against the Cryptographic Time Stamp in our database. We can prove that the check being verified was created on our system by a user with control over the authenticated checking account. AND because we are creating a Cryptographic Time Stamp for the verification, there is no way to guess the second or third check in the series to see the information.
Verify a CheckThe safest check you will ever receive because you can:
•Verify that it is written on an authenticated checking account
•Confirm that the check has not been changed since its creation
CheckItOut
Web Pagefor
PaymentsOnline!
Email notification of Payment
Check Preview in Lockbox
• Add your CheckItOut page to your website. a pay by check button.
• Add the CheckItOut link to an email for payment.
• Add the CheckItOut link to your invoices or bills you send out.
Your CheckItOut page URL
https://checkitout.verifyvalid.com/payments/20
Start enjoying the benefits of VerifyValid paperless checks today by visiting www.VerifyValid.com
Questions?