Advanced Electronic Processing For Internet Merchants

Edge: Work-Group Computing Report, Jan 17, 2000

Electronic Bank Drafting Systems Tuesday announces its newest service, a platform independent version of their traditional automated electronic check payment solution (CHEXpedite).

This newest release of the CHEXpedite service promotes ease of implementation, including a "plug and play" basis for use in many formats, including existing merchant shopping carts or websites, regardless of the integrated platform.

Comprehensively, CHEXpedite allows online merchants to offer a real time payment alternative to the traditional paper check and credit card. The process is completed by the debit of the consumer's bank account and the payment transfer into the merchant's account through the ACH via SSL encrypted transactions. Transactions will settle for web merchants within 48 hours, and many times may be completed prior to the shipment of the goods to the consumer.

Additionally, re-presentment of any NSF item is handled automatically at no charge to the merchant. CHEXpedite offers increased cash flow to merchants by decreasing payment settlement cycle time, as well as curing the "check is in the mail" dilemma faced by online companies. Additionally, it broadens the potential customer base by accommodating the millions of consumers who have no access to credit cards, but do utilize checking accounts.

CHEXpedite is the latest service extended by EBDS, Inc., which currently offers a full spectrum of commerce solutions to cash flow problems, ranging from paper bank demand drafts to point-of-sale check conversion to electronic transactions for a fraction of the cost that other companies charge. FMI: http://www.digitalwork.com.