Business Cases: Benefits of Electronic Check and Online Credit Card Processing

Traditional Check Processing Method

Your accounts receivables department/collectors receive either a physical check or check information over the phone from customer
Your accounts receivables department/collectors print the checks (if necessary) and prepare them for deposit
You transport the checks to your bank for deposit
The bank teller performs your transaction
The deposit is transported to the bank's back office
Checks are then encoded, processed, and sorted
Checks are transported to regional Federal Banks
Checks are captured and a cash letter is prepared
The check is presented to your customer's bank
No online payment processing
Finally, your original deposit becomes available in your bank account

PDC4U Method using Electronic Checks

Your accounts receivables department/collectors receive either a physical check or check information over the phone from customer
Your accounts receivables department/collectors either scan the physical check or enter the check information into the system and submit to PDC4U electronic check processing system
We directly transmit your transaction to your customer's bank
Your original deposit becomes available in your bank account
Consumers can conveniently use the online payment feature

Traditional Check Processing Time = Average of 5 days.

PDC4U Electronic Check Processing Time = Average of 3 days!

Traditional Credit Card Processing Method

Your accounts receivables department/collectors obtain and record information required for credit card authorization
Information passed to Clerk. Clerk requests authorization on line, authorization returned to clerk, usually by email
Clerk delivers authorization information to Payment Clerk
Payment Clerk accesses account and posts payment

PDC4U Method using Credit Card

While speaking with a customer, your accounts receivables department/collectors enter credit card information into system and transmits
Verification received by accounts receivables department/collectors within two seconds, payment funded within 48 hours
In addition, PDC4U allows your accounts receivables department/collectors to enter recurring credit card payments. When the recurring transaction becomes due the system will automatically obtain authorization and transmit the funds to your bank

Traditional Credit Card Processing Time = 15 minutes.
Average Labor Cost = $3.00
Average Discount Fee from Vendor= $2.50
Total Cost per Transaction = $5.50

PDC Credit Card Processing Time = 15 seconds!
Average Labor Cost = $0.05
Average Discount Fee from Vendor = $2.50
PDC Processing Fee = $0.50
Total Cost per Transaction = $3.05

Savings:
Per Transaction = $2.45
Average Payment per Transaction = $100.00
Per $100,000.00 in processing = $2,450.00!

Visa® is a registered trademark of Visa International Service Association.
MasterCard® is a registered trademark of MasterCard International, Inc.
American Express® is a registered trademark of American Express Company.
Discover® Card is a registered trademark of Discover Financial Services, Inc.

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