How does Paycheck Secure prevent check fraud?
Paycheck Secure examines every check for the common signs of fraud (such as low check numbers, invalid account information, and
checks printed on a home computer). If Paycheck Secure suspects that the check is fraudulent — or if the customer has cashed
a fraudulent check at any of the 2,000 locations coast to coast in the Paycheck Secure network — the system will strongly
recommend that you decline the check, before any money changes hands.
How long does it take to enroll customers and cash checks with Paycheck Secure?
Enrollment for your check cashing customers takes about 1 minute — the time it takes to scan a drivers license, take
the customer's photo with the PC camera, and scan the customer's finger. (No data entry required!) Once your customer is enrolled,
cashing checks is even quicker. Check cashing takes as little as 15 seconds to complete. (For more details on how to enroll
customers and cash checks, visit the Paycheck Secure Overview page.)
Will my competition have access to my customer list?
No. Customer information is only shared between multiple stores in the same chain. However, if Paycheck Secure recommends a "decline"
and there is negative information in the system about that customer, you will see the name of the merchant or bank who reported the
negative information.
I'm afraid of losing customers who don't want to give their fingerprints. Do customers like Paycheck Secure?
Yes. Paycheck Secure benefits your customers as well:
Quicker processing time. The customer doesn't need to wait for the clerk to study their ID, call their bank or verify
their employment every time they cash a check.
No IDs required. After customers have enrolled, they can cash their payroll checks even if they've lost or forgotten
their ID.
It's cheaper for the customer. With our optional voucher feature, you can rebate a portion of the check cashing fee
to the customer with an in-store voucher. Customers will be able to cash their checks for less, and you'll encourage customers to
spend their money in your store, not the competition.
No wonder Marsh Supermarkets told Supermarket News that "We've received zero complaints from customers" about Paycheck Secure.
Is my customer information secure?
Yes. All information on the Paycheck Secure computer is protected with a password and a secure access token, and all information
sent across the Internet is encrypted to prevent snooping. Customer and check information is stored on secure servers at Paycheck
Secure's data center in Herndon, Virginia. This facility is monitored 24 hours a day and only accessible to Paycheck Secure
personnel.
What if the system can't recognize a customer's fingerprint?
Occasionally the fingerprint scanner will fail to recognize a customer's fingerprint. But since Paycheck Secure requires that both
index fingers be scanned when the customer enrolls, you can try the other index finger. If you're still unsure whether the check
casher is who they say they are, Paycheck Secure has the customer's photo and drivers license information on file for you to consult
at any time.
Do you offer check insurance or a guarantee program?
Yes. While the Paycheck Secure system is so effective at preventing fraud that it is usually more cost-effective for merchants to not pay for a guarantee, we recognize that some merchants want the peace of mind of knowing that any losses they sustain will be 100% covered. The Paycheck Secure guarantee program will reimburse 100% of the face value of the check if it is returned by the bank as fraudulent.
What if a customer has a cut or bandaged finger?
During enrollment, Paycheck Secure scans both left and right index fingers into the system. So if there is a problem with a customer's finger, the other finger can still be used.
What are the system requirements for Paycheck Secure?
A new Dell PC dedicated to Paycheck Secure is included in the price of our service. Here's the equipment you'll get:
Windows PC with a Pentium 4 processor
Paycheck Secure 8.0 software
15" flat panel monitor
Fingerprint scanner
Automatic check reader
PC video camera
Drivers license/ID scanner (optional)
Receipt printer (optional)
What happens if a customer's check is returned by the bank?
If a customer's paycheck is returned by the bank, that customer is immediately flagged in the Paycheck Secure network. The customer
will be unable to cash checks at your store (or in any of the 2,000 Paycheck Secure locations coast to coast) until the issue is
resolved. Plus you'll have a returned check report at the ready with the customer's photo, fingerprints and check history prepared
for you.
Those who wish for even more security can sign up for our Paycheck Secureguarantee program. You will be reimbursed 100% for any returned checks that meet our requirements.
I know most of my customers. Why should I spend money on a check cashing system?
Even small merchants with regular repeat customers can benefit from Paycheck Secure:
New employees get up to speed quickly. No need for new employees to call the manager to verify every customer. Fingerprint scanning ensures that your customers are who they say they are.
Reward your frequent customers. Reward your repeat customers with a good check cashing history by providing them with discounts and in-store rebate vouchers.
Give your customers faster service. Even if fraud has not been a problem in your store, Paycheck Secure can help speed long lines and get your customers out the door quicker.
Does Paycheck Secure have velocity restrictions to help me stop runners?
Yes. You can customize the system velocity settings to alert you if a customer is trying to cash a large amount of checks in a short amount of time, or checks with a suspiciously high dollar amount.
Do you provide training and support for Paycheck Secure?
Yes. A qualified technician will install the Paycheck Secure system in your store, and provide training for all of your store personnel. After the technician is gone, you'll still have free software updates and customer support from our toll-free number during standard business hours.
I'm thinking about setting up a check cashing business. How do I get started?
If you are already running a retail store or thinking of opening one, you should consider offering check cashing services. Check cashing makes good business sense, because you can earn good fees and increase foot traffic into your store (which increases sales of other items as well). However, there are risks associated with cashing payroll checks, so use of the Paycheck Secure system is essential. You may be required to obtain a check cashing license from the state. Your local Paycheck Secure salesperson is familiar with these requirements and can help you address all the points associated with beginning a check cashing operation.
How much does Paycheck Secure cost?
The cost of Paycheck secure is far less than the cost of one bad check per month. Plus the system will save you time and increase your overall volume of checks cashed and fees generated. For more detailed pricing information, contact a sales representative.
