Providing Total Check Solutions

The American Checkbook

„ Checks remain preferred method of non-cash

payment at the Point of Sale

„ Studies indicates trend will continue „ WHY???

• Float

• Habit

• Record Keeping

Retailers…

„ Check fraud

„ Uncollected funds „ Employee handling

• Inefficient

• Increase risks

„ Processing costs from bank „ Delays in funding

HOT

Opportunity!

Electronic Check Conversion!

Less than 5% of retailers currently using

ECC at the Point of Sale

Conversion w/Guarantee

Solution that Retailers are asking for!

„ Process and accept checks “just like a

credit card”

„ Guarantee of All Approved and Accepted

Checks

„ Check is Returned to Consumer

„ Similar fee structure as bankcards

Conversion w/Guarantee

„ How it works

1. Merchant will swipe check through a check reader and input drivers license # and amount of sale.

2. When transaction is approved, a duplicate receipt will print and consumer completes receipt.

3. The check is stamped “ACH Processed” and check along with the receipt are handed back to the

consumer.

4. GETI will fund merchant on transaction in 48

hours. (consumer still experiences a 2 day float)

5. Merchant will not be charged back for any

returned checks (as long as proper procedures were followed)

Receipt

„

Signature

„

Printed Name

Merchant Responsibilities

„

Clerk must follow reasonable procedures

Fax copy of complete receipt if requested

Must be a personal check

„

No Corp Checks, Money Orders, Line of

Unacceptable Merchants

„

Criminal & Bankruptcy Attorneys

Pawn Shops (without gun license)

Used Auto Sales doing financing

Adult Related

„

Credit Counseling

Gaming

Merchant Benefits

„ No paper claims to file for bad checks

„ Eliminates their bank deposit fees and any

NSF charges

„ Losses due to bad checks are eliminated „ Cost of employees time in handling,

reconciling and depositing of paper checks

„ Eliminates potential fraud, loss and theft of

consumers paper check

Market Potential

ƒ

Multiple location merchants

ƒ

Large merchants

ƒ

Medium merchants

Top 15 Merchant Types

Using Check Conversion

ƒ Dental

ƒ Cosmetic/Beauty

Supplies

ƒ Auto Tire Stores ƒ Liquor Stores ƒ Jewelry Stores ƒ Auto Parts Stores ƒ Car Stereo/Cellular

Phones

ƒ Nail

Products/Manicures

ƒ Physicians

ƒ Convenience Stores ƒ Barber/Beauty Shops ƒ Grocery/Supermarkets ƒ Clothing

ƒ Restaurants ƒ Auto Repair

Prospecting Ideas

„ Existing bankcard merchant base „ Specialize in one or two industry

types and become the expert

„ New business lists

• From County, State or Local Government

• Tax Licenses

• Liquor, Restaurant or Beauty Salon Licenses

„ Internet yellow pages by merchant type or zip

code

„ Businesses that have signs posted

Sales Lines…

„

„

“Are you taking checks the old way or the

“

new way?”

„

“How would you like to accept and process

checks just like your credit cards? You

swipe the check and give it back to the

consumer and you’re funded electronically

in a few days – guaranteed?”

„

“Have you seen the new Electronic Check

Conversion systems?”

„

How would you like to have your

customers checks electronically deposited

so you didn’t have to go to the bank?”

Sales Lines 2…

„

“Wouldn’t you like to lower your bank

fees?”

„

“You can now accept and process checks

with the same security as a credit card for

a lower cost!”

„

“You can now accept checks and get paid

electronically without worrying about bad

checks!”

Marketing Ideas

„

Broadcast fax lists / software

„

Associations

„

Franchises

„

Telemarketing

„

Mailers

„

Cold calling

•

Go into smaller towns away from major

metropolitan areas where merchants

are usually more receptive and go

business to business

Advantages over the

Competition

„ Merchant remains “whole” if consumers check

is bad

„ we will not take money away from merchant and then

make them prove they followed guidelines

„ Check writer will still experience a 2 day

“float” before funds are withdrawn

„ whereas consumers may not be prepared for programs

Advantage over the Competition

„ Less than 1% declines at the POS

„ No discount percentage charged on declines „ Free customer service and tech support

„ Protected by electronic check conversion patent to

ensure uninterrupted service

„ ACH rules compliant

Advantage over the Competition

„ All services provided in house..

• Processing

• Customer Service & Tech Support

• ISO Support

• Finance

• Underwriting & Risk

• Check Guarantee & Collections

• R&D

„ Support more terminals/readers

Advantage over the Competition

Merchant Setup

1. Fax completed merchant application

(refer to enclosed sample)

Stop Payment Addendum if requesting

2. GETI receives application and approves within 2-4 hours

Merchant Setup

(cont)

„ IVI 3000 „ Talento

„ Verifone Omni’s

1. Download bankcard and other first

Merchant Setup

(cont)

„

FULL DOWNLOAD

„ Hypercom „ Nurit

All check, credit, debit etc programs are downloaded at same time

Merchant Setup

(cont)

„

GETI to send “Merchant Welcome Kit”

„ Terminal instruction guide „ ACH Stamp

Equipment Compatibility

Talento

Nurit 20852085+, 3000

RDM Imager

Magtek Micr Reader

Omni 3200

Hypercom T7

Equipment Compatibility

Verifone 3750

Equipment Compatibility

IVI Check Manager 3000 (Stand Alone)

P250 Printer (use with a “Y” cable to share with a Tranz 330 and IVI 3000)

ValuePak 700 (Integrated Nurit 3000 & Welch Allyn

Check Reader)

Quick Service Program

„

eGOLD

„

Designed for low tickets / fast

checkout merchants

„ Convenience Stores

„ Quick Service Restaurant

„

$50 high ticket / $25 avg ticket

„

No discount fee (special per trans fee)

eSILVER

„

Electronic Check Conversion (72 hours

funding)

„

Verification against negative database

Traditional Paper Guarantee

„

Non-Conversion program

„

Paper check deposited at merchants

bank

„

NSF paper check forwarded to GETI

„

GETI reimburse merchant

RCK (Electronic Check Recovery)

„

Paper check deposited into bank

„

NSF check forwarded to GETI

„

Merchant funded 100% of face value

if GETI collects

No equipment needed!

FREE service to merchants!

($10 minimum if 2 checks not received)

Agent paid on NSF fees collected