Paymentech, a national electronic payment processor, reached an exclusive agreement with eFunds Corp., an electronic payments provider, that lets Paymentech's direct response merchant customers contribute to the country's largest check-verification database, the Shared Check Authorization Network.
Only traditional bricks-and-mortar retail merchants have contributed to the SCAN database, owned by eFunds Corp., Scottsdale, AZ. The agreement lets online, catalog and direct response merchants contribute as well, effectively stopping bad-check writers in their tracks.
Paymentech is the only processor whose direct response merchants can contribute to the SCAN database.
SCAN check verification is a value-added service offered to merchants accepting electronic check payments via Paymentech's eCheckSelect product suite. ECheckSelect lets merchants accept electronic checks initiated via point of purchase, Internet, telephone, accounts receivable or recurring debit.