Payment Processing Leader Helps Decrease Returns by up to 30 Percent
New York, New York, March 15, 2017 — While exact figures vary on how many businesses and consumers rely on electronic signatures, the latest research indicates rapid industry growth, estimating a rate increase of 32 percent from 2015 to 2022. The impressive growth reflects the degree to which consumers increasingly rely on digital technology to initiate, track, and complete their transactions.
Recognizing the need to help businesses improve payment efficiencies and complete the e-payment circle, E-Complish, a leading payment solutions provider, is pleased to announce that the company’s EDoc and E-Signature software is designed as a means to formalize a single payment or recurring payment plans via fully digital means.
EDocs are used to send a document for signature to a consumer with pre-populated payment details and information. The consumer then receives an email for the EDoc and signs the agreement approving the payment or recurring payment plan.
“One of the greatest benefits of Ecomplish’s EDoc and e-signature services is the formalizing of recurring payment processing,” says Stephen Price, E-Complish CEO. “Simplifying the process by which it takes to get a consumer signature as it applies to recurring transactions is ideal for today’s customers who increasingly prefer an all-digital. In fact, we find that the EDoc strategy reduces charge-backs and ACH returns by up to 30 percent.”
The way it works is simple. EDocs are initiated by way of a representatives working with E-Complish’s related software offerings, including web (HostPay), call center reps (VirtualPay) or even through the company’s Devconnect application program interface, or API. Once the EDoc is sent, it is identified as a “pending signature” within VirtualPay or DevConnect API.
After the customer electronically signs the EDoc with their E-Signature, both they and the merchant will be notified via email that the EDoc was signed and is pending approval. From the merchant’s side. A representative or manager approves the EDoc to activate its terms, however, a merchant utilizing either VirtualPay or DevConnect can also activate the EDoc “plan” automatically.
The entire EDoc process follows the Electronic Signature Act guidelines and is stored on the company’s servers for safekeeping and for future retrieval. Best of all is that EDocs allow maximum flexibility on who has access to the data and who does not. As the business owner, you decide who on your team has administrative responsibilities and then enable personnel to view or approve documents.
EDoc also provides an audit log showing the entire history of a document. This includes uploading, adding elements, viewing, e-signature, and who took each of these actions. Users will also see the date, the IP address, and which platform was used.
“EDoc is designed to be opened on any device for the customer’s signature, including Android, IOS, and web applications,” Price says. “Consumer signatures are easy to manage. They can be uploaded, typed, or drawn on a touchscreen to produce a great looking signature. Invitation to sign the document is by way of email and almost guaranteed to not be screened as spam by mail systems. The bottom line is that EDocs and the software’s e-signature capabilities are a great way to formalize the recurring payment process or even gather information like online applications and other agreements.”
Since 1998, E-Complish has provided merchants around the country with top online and over-the-phone payment processing servicesthat keep customer data secure and make it easier for retailers to manage transactions. E-Complish uses the latest groundbreaking technology to design payment processing services that deliver ease of use, accuracy and dependability, personalization capabilities, and automation that improves productivity.
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