Merchant Collect

Merchant Collect

Electronic Check CollectionThe goal at MEA is to provide quality software solutions and help financial institutions and business owners increase revenue and gain a competitive edge. To that end, MEA introduces Merchant Collect to provide electronic check collection to the customers of financial institutions and direct to merchant businesses.

Integrated Solution

Developed, Supported & Enhanced IntegrationThe partnership between CSI and MEA allows a bank to offer Merchant Collect to business accounts without special handling of chargeback items. The integration features CSI has added to the chargeback process automatically tag items for delivery to MEA for accounts that use the Merchant Collect service. CSI then transmits items daily to MEA so the Merchant Collect process can begin. CSI works closely with MEA to continue enhancing this interface.

Streamlined Chargeback ProcessingAccounts designated as using the Merchant Collect service won't require additional special handling of items. By designating an account as using Merchant Collect, the CSI system will automatically tag an item to be sent to MEA at time of chargeback. This process both increases collection and reduces the number of times a chargeback is handled.

Preferred ProviderMEA's status as a CSI Preferred Provider guarantees a complete, consistent and efficient NSF check collection service. MEA coordinates its efforts with CSI so that the Merchant Collect startup process is seamless for both the bank and business owner.

Turnkey Service

Web-based TrainingWeb-based training is available for both the financial institution and business owners. Bank training focuses on the chargeback process, the Merchant Collect user interface and the successful marketing of Merchant Collect to business accounts. The business owner is trained on how to access their data on the Merchant Collect web site, proper legal notification to check writers and on the content of reports available through Merchant Collect.

Merchant Starter KitThis valuable tool will contain all the materials and information needed for a business owner to begin using Merchant Collect. The kit is also designed to be an education/sales tool during the signup of new Merchant Collect users.

Electronic Check CollectionBy using the Automated Clearing House (ACH) network for electronic re-presentment to the check writer's account, Merchant Collect provides excellent collection results. Once the item is received by MEA, all steps in the collection process are done electronically using methods that insure the highest success rate. Therefore, the merchant will save both time and money by using Merchant Collect and getting out of the collection process.

Service and Software SupportMEA provides technical and program support from 7:00 am to 7:00 pm Monday through Friday. Current status of items and up-to-date reports are always available to customers and financial institutions through the Merchant Collect web site.

Proven Track RecordWith over 40 years of experience serving the finance industry, 31/2 years of successful business operation and more than 150 financial institutions as customers MEA has displayed two qualities: superior products and excellent service. Coupling that experience with our partnership with CSI, Merchant Collect provides a comprehensive solution to the growing check collection problem that business owners face today.

Revenue ProducerMerchant Collect is a true win/win for banks and their customers. Customers receive a no-cost service that returns 100% of the face value of NSF checks upon successful collection of the item. The financial institution receives a portion of the fee MEA collects from the check writer while reducing chargeback volume.

Program & Software SupportMEA provides technical and program support from 7:00am to 7:00pm Monday – Friday. Quarterly conference calls are scheduled and completed to track the success of Overdraft Advance.

Proven Track RecordWith over 40 years of experience serving the Finance Industry, 5 years of successful business operation and more than 225 credit unions utilizing Overdraft Advance. MEA is a leading provider of courtesy pay programs. By coupling our experience we are able to provide the most complete and seamless courtesy pay program to credit unions.

Software & Service Highlights

Intelligent Re-presentment ScheduleMerchant Collect uses predictive modeling and historical data to maximize the percentages that the check writer’s account will have sufficient funds available to cover the amount of the check.

Automated Item TrackingMEA will store all chargeback items in the Merchant Collect warehouse and create re-presentment transactions timed to maximize collection success. This process is tracked and reported to customers via the Merchant Collect web site and on monthly statements. History is kept on all collected items for seven years per ACH regulations and for 2 years on items re-presented twice without success.

Web-based User InterfaceCustomers and banks can access the data stored in Merchant Collect for both inquiry and reporting purposes. This secure web service provides up to the minute views of both individual items and summary data.

Merchant ReportingMonthly statements will be provided for the reconcilement of item status and recovered funds. Ad hoc reporting is available anytime through the web site.

Next Day SettlementMEA will originate credits for recovered funds through ACH to the business owner's account on the next business day following the successful collection of items. This provides business owners quick access to recovered funds.

Secure Hosted EnvironmentUtilizing MEA's secure website, the Merchant Collect hosted service and the CSI interface, a business can be confident that its sensitive data is protected without having to invest in technology.

Preferred Collection Agency In the event that Merchant Collect is unsuccessful in its recovery efforts, MEA has developed a relationship with a leading traditional collection agency to provide comprehensive and cost effective recovery methods. This allows the collection efforts to continue without being a burden to the business owner.