The VerifyValid service enables bank customers to make and receive check payments online, using a virtual lockbox and virtual remote deposit capture system. VerifyValid also helps prevent check fraud.
Organizations can generate a check and deliver it via the web. Recipients receive a legally valid check that can be used wherever and whenever checks are accepted. VerifyValid provides the framework for electronically validating checks using fraud prevention technology based on a Trusted Time Stamp (American National Standard X9.95). Businesses receive more than 20 billion check-based payments per year according to the Federal Reserve Payments Study.
In recent news, VerifyValid has launched CheckItOut Beta, a new check payment platform.
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