What has caused the recent and dramatic rise in the adoption rate of Electronic Check Deposit (ECD) for small business?
Electronic Check Deposit (ECD) software, support and scanner costs made justification hard for the small businesses. Today, thanks to Clear Payments ECD system, this technology can be deployed and operated for less than what a cell phone plan or a postal stamp machine cost. Our new small business scanner, the SS Micro Scanner, is designed specifically for small business. This scanner cost less than $250, compared to $1,200-$1,500 just 2 years, without a term commitment and $99 with a 12-month services agreement. A similar change occurred in the industry with credit card processing. When did you last drive a credit card receipt to the bank for deposit? The answer is a long time ago. Check depositing is moving rapidly through that same transformation as the manual “knuckle buster” credit card imprinting process did twenty years ago. Paper checks are becoming more and more expensive for banks to process. Combine that with the drastically reduced number of paper checks processed through th
