LIGHTNING RELEASES (3/19/2014) – Countries such as the Dominican Republic and Panama, along with many other Latin American countries have been dragging their heels in providing the correct legislation in allowing businesses to make Direct Debit transactions to customer accounts. As the law in now written, a Direct Debit can be made using a Credit Card, but not with an eCheck transaction.
Primarily, due to the law requiring a signature on every check when it’s taken to bank for deposit.
As Paysoft explains, this new technology will allow customers to receive an email DocuSign Authentication, where the customer authorizes the debit and at the same time digitizes the Signature made. Paysoft then transposes the signature on to their eCheck Voucher and then taken to Bank.
Paysoft International, Inc., is the market leader in processing eCheck21 transactions for the B2B and B2C markets.
Soon eCheck processing will be coming to South American countries as well as Central America !