How will this features benefit you as the customer, (It prevents Cheque Fraud)
How will this features benefit you the customer? (It Prevents Cheque Fraud And Cloning). When the customer opens an account with their Bank or Financial Institution and received his or her cheque book and smart card, they are basically ready to transact business. The customer then purchases the security features program, have their financial institution update their ID and activate this features function. Once secured and all information is added to the account database, then it’s ready to work
(NB: Charges will apply for activating this function)
When the customer goes to make a purchase using their cheque or smart card, they are now provided with the option to upload the cheque information and add their smart card password code.
(A) Uploading paper cheques – When a customer uploads his or her cheque information to pay a merchant via computer, tablet or app, there is a 99.9% chance of no fraud, How is this possible? When a paper cheque is uploaded by the customer, the database verifies that the cheque issued by your financial institution, is certified. It then searches for the barcode, the cheque and account numbers, and matches them to your account and the security ID generated second pin. View example below.
This means you the merchant do not have to worry about losing your valued dollar to fraudulent cheques, Ryteback Cheques are design to work via live data which will examine and verify each and every cheque that is scanned into the system on a twenty four hour, three hundred and sixty days a year operating system.
” How do this really work? ” A customer first has to open a legitimate account with their bank or financial instruction, they are provided with our newly design cheques, these are equipped with a barcode which is tied to the customer account. When the customer purchase an item and makes the payment by cheque, the barcode is scanned, the customer photo ID is displayed along with their name and address, for the clerk to see, once the customer information is verified the program moves to phase two which will verify that funds are available. Once the transaction is verified then a accept message will appeared and the account is debited, if fund are not available, then a declined message will appeared and the cheque will be rejected.