Many foreign businesses provide services or manufacture goods that are sold to U.S. companies or individuals. Those U.S. companies or individuals often pay using checks drawn from U.S. banks. Many times, unless it is a large business or ”favored” customer of a bank, a foreign company that wants to cash a check from a U.S. bank will deposit the check in its bank account, and must wait 15 to 90 days for credit on that check. This profoundly limits cash flow, continued business and profitability. BEST Card Systems provides enterprise payment solutions relating to electronic transaction processing services for non-U.S. businesses that receive payments from U.S. customers by paper checks (written from U.S. banks) or electronic ACH transactions.
ACH
With respect to ACH transactions, BEST Card Systems processes debit and credit transactions submitted to the ACH Network in conjunction with ACH check processing origination and settlement services.
CHECK 21
With respect to transactions involving image replacement documents permitted under the Check for the 21st Century (Check 21) Act, BEST Card Systems provides Remote Deposit Capture (“RDC”) scanning services which facilitates the processing of the image replacement documents with financial institutions in the U.S. Federal Reserve System.
BEST Card Systems offers
State-of-the-art technology :
BEST Card Systems offers 126-bit servers, encrypted data and payment processing, coupled with Remote Deposit Capture (Check 21) image scanning capability
Faster, more secure payments :
BEST Card Systems offers a convenient way for foreign businesses to realize their payments quicker, securely and economically. BEST Card Systems’s payment platform provides data processing, check verification and anti-money laundering compliance, resulting in fast and efficient deposits into your bank account, or a U.S. bank account established for that purpose. Depending on the Client and type of payment, funds may be available the next day.
Competitive fee rates :
BEST Card Systems’s innovation and unique, efficient payment processing platform allows lower operational costs, which are passed on to clients.