 Check
Processing :
Our software and hosting services provides e-check and ACH services
via the Fedwire ACH network. The software provides ACH and account
reconciliation software and services to e-commerce businesses and other
financial institutions alike. ACH works as a primary batch based electronic
funds transfer system moving funds electronically through the banking system.
Via the ACH system, we are able to provide electronic transactions as
substitutes for paper checks and apply recurring payments for direct deposit,
payroll, debit transfers and online payment to ecommerce sites.
Money
Transfer :
PayChest utilizes a combination of money transfer technologies by
using debit cards and traditional money transfers. Customer will be able to
apply for a debit card account and utilize the card to make payments online for
money transfer services through traditional money remittance companies.
Money Transfer Card: Consumer purchases two pre-paid debit cards which are
linked to one another. The second card is sent to a relative abroad. The
relative can now withdraw these funds from any ATM machine in his/ her country
at a fraction of the cost of traditional money transfer. In an industry
dominated by two players (Western Union and Moneygram), and growing 20% every
year, PayChest consumers can push and pull money transfers to online debit
accounts via our ACH products.
Debit
and Credit Card Processing :
PayChest will approve business and online merchants via the PayChest
gateway for processing of payments in multiple currencies. PayChest utilizes
electronic real-time processing with AVS (Address Verification Service) and can
accept almost any Internet based business.
Via the E-commerce solution, customers can set up their own customer web portal
with their own web design and complete shopping cart.
Customer's credit card purchases and orders are directed to PayChest after
verification and instant copy of the sale is emailed to our customers.
Gift
Card Processing:
Via the multiple application processing platform, PayChest is able to
process gift card activations and track sales and card activity on behalf of
online business customers.
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