ATMVerify: Cutting Edge Check Verification
By harnessing the single largest
source of account information in the world,
merchants can effectively reduce transaction losses through
immediate risk assessment. Using ATM Verify, merchants can
access this information, which is generated in real time.
Participating financial institutions include the vast majority
of tier one and two banks as well as larger credit unions.
Features
ATMVerify perfectly complements our
VirtualTerminal 3, SoftTerminal, or Direct Billing products
and can be used with any of our real-time processes. By using
ATM Verify with these products, merchants can verify account
status before accepting a check.
After entering check information into
either VirtualTerminal 3 or SoftTerminal fortified by ATM
Verify, a merchant receives a result notification of
“positive,” “negative,” or “unknown.” “Negative” responses
alert the merchant that there are problems with this specific
account. “Positive” assures the merchant the account is
currently in good standing. “Unknown” suggests the account in
question is not within the ATM Verify network.
ATM Verify can be integrated within the
merchant’s current system, even if the merchant is currently
using another ACH processor. With our PaymentsGateway.net
Integration Guide, a merchant can integrate the verification
process, which precedes the ACH transaction process. Receiving
a result notification then sets into motion the merchant’s
current ACH process.
Level II
Features
- Participation by
most major financial institutions
- Account information
updated each business day
- Identify open valid
accounts
Level I
Features
- Automated real-time
sufficient funds verification
- Also identifies
closed, frozen and non-existent accounts
- Growing list of
participating financial institutions
Real-Time
Check Verification
- Reduce bad check
acceptance
- Two levels of
verification
- Largest source of
account information in the world
- Sub-six second
response times
- Batch mode option
for large volumes
NCN
data:
The 2004 Nilson
Report www.nilsonreport.com again ranked NCN as
one of the largest nationwide check verification
companies.
Negative
Database. More than 23 million negative records.
Positive
Database. More than 138 million positive
records, representing the majority of checking
accounts nationwide.
Risk Management.
91 management-controlled parameters are
available to customize the risk management
capabilities for each merchant as well as for
each merchant location.
Quality. NCN
contributors provide over 300 files daily, which
update more than one million negative records
monthly to ensure a current, accurate database.
You don’t turn away good business, and you avoid
checks that are potential problems.
Transaction
Count: The NCN system processes 650,000
verification transactions daily, for a total of
233.6 million authorization transactions per
year.
