ICL Check Truncation is an exciting new solution that was designed for clients with higher than average return rates and unauthorized transactions, or for clients who accept large dollar amounts over the Internet. Payliance’s patent-compliant process creates check images from a client data file — no paper check is required.
These transactions are governed by the Check 21 Act and Uniform Commercial Code – Not Regulation E, which means:
• No restrictions on percentage of returns
• No restrictions on unauthorized returns
• No maximum dollar amount
• No consumer authorization needed
• Less likely to be shut down due to high returns or UA’s
• All types of checks and money orders are accepted
• Provides you with access to more customer accounts than any other single payment method because you can accept all types of checks and money orders