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Electronic Clearing House, Inc. (ECHO)
ECHO is a 19-year-old publicly traded company that has been doing Internet transactions for over 4 years. ECHO helped in the development of SSL (Secure Socket Layer), the security used for moving credit cards securely over the Internet.
ECHO has two ways to process credit cards. First, ECHOnline real-time processing will process credit cards in 7 seconds or less. The customer activates the transaction. After going through the shopping cart and completing the required information the customer will receive a message within 7 seconds confirming the transaction went through. Within 48 hours, the money from that transaction will be transferred into the merchant's business checking account. The merchant is also notified of the transaction and order by email.
The second option for credit card processing is ECHONet. Every client can get a virtual terminal for no additional cost. The ECHONet terminal allows merchants to process credit cards from orders taken face-to-face or over the telephone.
ECHO provides benefits to the merchant, such as:
- There are no monthly minimum fees.
- No monthly statement or technical support fee for months when no cards are processed.
- No long-term contracts or obligations.
- If credit cards are processed there is a $10.00 fee/month.
All ECHOnline accounts are required to use a Depository Checking account established by for the merchant at First Regional Bank, Agoura Hills, CA--FDIC Insured. This account is opened in the name of the merchant. The customer uses checks issued to this account to transfer money to their local business account. The account is free.
Discount Percentage 2.49%
Transaction fee $0.32
See http://www.creditcardsolutions.com for more information.
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