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| software & service highlights
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Intelligent Re-presentment Schedule:
Merchant Collect uses predictive modeling and historical data to maximize the percentages
that the check writer’s account will have sufficient funds available to cover the
amount of the check.
Automated Item Tracking:
MEA will store all chargeback items in the Merchant Collect warehouse and create
re-presentment transactions timed to maximize collection success. This process is
tracked and reported to customers via the Merchant Collect web site and on monthly
statements. History is kept on all collected items for seven years per ACH regulations
and for 2 years on items re-presented twice without success.
Web-based User Interface: Customers and banks can access the data
stored in Merchant Collect for both inquiry and reporting purposes. This secure
web service provides up to the minute views of both individual items and summary
data.
Merchant Reporting: Monthly statements will be provided for the
reconcilement of item status and recovered funds. Ad hoc reporting is available
anytime through the web site.
Next Day Settlement: MEA will originate credits for recovered funds
through ACH to the business owner’s account on the next business day following the
successful collection of items. This provides business owners quick access to recovered
funds.
Secure Hosted Environment: Utilizing MEA’s secure website, a business can be confident
that its sensitive data is protected without having to invest in technology.
Preferred Collection Agency: In the event that Merchant Collect
is unsuccessful in its recovery efforts, MEA has developed a relationship with a
leading traditional collection agency to provide comprehensive and cost effective
recovery methods. This allows the collection efforts to continue without being a
burden to the business owner.
NACHA & Legal Compliance: The Merchant Collect process operates
in compliance with existing NACHA Operating Rules. MEA also guarantees that the
Merchant Collect service operates with individual state laws governing the collections
of NSF checks.
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turnkey services |
Web-based
Training:
Web-based training is available for both the financial institution and business
owners. Bank training focuses on the chargeback process, the Merchant Collect user
interface and the successful marketing of Merchant Collect to business accounts.
The business owner is trained on how to access their data on the Merchant Collect
web site, proper legal notification to check writers and on the content of reports
available through Merchant Collect.
Merchant
Starter Kit:This valuable tool will contain all the materials
and information needed for a business owner to begin using Merchant Collect. The
kit is also designed to be an education/sales tool during the signup of new Merchant
Collect users.
Electronic Check Collection: By using the Automated Clearing House(ACH) network for electronic re-presentment (RCK) to the check writer’s account, Merchant Collect provides excellent collection results. Once the item is received by MEA, all steps in the collection process are done electronically using methods that insure the highest success rate. Therefore, the merchant will save both time and money by using Merchant Collect and getting out of the collection process.
Service and Software Support: MEA provides technical and program support from 7:00 am to 7:00 pm Monday through Friday. Current status of items and up-to-date reports are always available to customers and financial institutions through the Merchant Collect web site.
Next Day Settlement: MEA will originate
credits for recovered funds through ACH to the business owner’s account on the next
business day following the successful collection of items. This provides business
owners quick access to recovered funds.
Proven Track Record: With over 40 years of experience serving the finance industry, 3 1/2 years of successful business operation and more than 150 financial institutions as customers MEA has displayed two qualities: superior products and excellent service. Coupling that experience with our partnership with CSI, Merchant Collect provides a comprehensive solution to the growing check collection problem that business owners face today.
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