Electronic check conversion
Checks are now as easy to accept and as efficient to handle as plastic.

Electronic Check Conversion at the point-of-purchase (POP) provides merchants with a paperless, more efficient method of accepting the consumer’s check (see Merchant Benefits).

How it works (click here for illustration)
  • the consumer presents a paper check at the point-of-purchase
  • the check is "swiped" through a check reader, the bank account information is captured along with the sale amount, and the check is converted to an electronic transaction – the check is not negotiated, it is only a source document for the consumer’s checking account
  • the transaction is APPROVED or DECLINED, just like the process for a credit card transaction
  • the consumer authorizes the transaction by signing a receipt
  • sales paid for by Electronic Check Conversion are forwarded electronically for clearing and payment into the merchant’s account.

Merchant benefits

For merchants, Electronic Check Conversion:

  • eliminates paper check handling costs
  • makes for faster check-out times
  • accelerates availability of funds
  • reduces bad debt risk and collection costs
  • helps increase sales and encourages more frequent shopping.
LML has designed specific systems and processes for side-by-side compatibility with credit card processes at the retail point-of-purchase, including: For more information about our services, contact LML Payment Systems – consumer friendly, merchant driven.

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