It’s easy to see why many retailers refuse to accept checks from customers,” says Charles Dortch III. “They don’t want to be burned.”
The trouble is, a no-checks policy turns away some customers — for good. So why not make the sale and pass the risk to CrossCheck?
CrossCheck is a ground-breaking payments guarantee company that’s been serving retailers since 1983. Now, it’s a Home Furnishings Association Solution Partner, offering special opportunities for HFA members to increase sales and reduce risk.
Dortch is a senior vice president at CrossCheck, a Petaluma, Calif.,-based company he joined in 1997. He can count the benefits for participating retailers, but he makes a point of noting “lifetime customer value. This is the big one.”
When a merchant says “no” to a customer’s check, he is effectively saying “no” to the customer, who will take his business somewhere else and likely never come back. Say “yes” and an opportunity is seized to win a customer for life.
More than $3 billion in 2018
CrossCheck processed more than $3 billion in check transactions in 2018, according to Dortch, so it knows how to manage risk. That means the retailer doesn’t have to worry about it. Here’s how it works:
The customer presents a check to pay for a purchase, large or small. The merchant runs the check through an imager that’s connected to a PC or phone line. The imager belongs to CrossCheck and is loaned to the retailer without charge. The digital image is sent to CrossCheck electronically, and a receipt is printed for the customer. The original check is voided.
“The merchant receives the funding within 48 to 72 hours,” says Dortch. “If a check is returned from the bank unpaid, the merchant never sees it because items are processed directly through CrossCheck.”
More services are available, but the bottom line for the retailer is the same across the board: more sales, improved cash flow and less time, trouble and worry.
‘Very liberal approval process’
CrossCheck operates so effectively that it can provide a “very liberal approval process” and has “no qualms about limits,” says Dortch. It all adds up to more business for the merchant. And, if anything goes wrong or there are any questions, CrossCheck provides excellent customer service and consultation.
Finally, there’s no need to put out fires when no one gets burned.
For more information about CrossCheck, call the Home Furnishings Association at 800-422-3778 and ask to speak with a member specialist.