Overview:
The e-ValuCheck "Pay by Check for Immediate Registration" product allows students and their parents to make online payments for registration fees via the most accepted method of tuition payment, the paper check. Many universities are moving student registration and payment of fee to an online function as a time and cost savings for the university. Many bursar's offices are overburdened during three weeks a year when they receive an avalanche of fee payments at the start of each semester. Most online tuition payment solutions are based on credit card or ACH payment mechanisms for tuition payments, which introduce significant additional processing and labor costs to administer.

The e-ValuCheck for Immediate Registration solution is an inexpensive and simple way to accept paper checks online for tuition payments without having to physically touch or deposit another check.

e-ValuCheck Opportunity:
    Add additional market potential and increase adoption rates for online payment
    Reduce online payment cost significantly versus credit card
    Provide parents and students the preferred method of payment, the paper check
    Provide an electronic lockbox service by the bank so the college or university will never see, touch or process a paper check, while receiving automatic A/R updates
    Accept payments for tuition, housing, fees, books, fines, etc.
    Eliminate charge-back issues and administrative returns from credit cards and ACH
    Eliminate security concerns associated with storage of student financial data
    Offer complete confidentiality of financial status to parents versus credit card and ACH

Issues with e-commerce at Colleges and Universities:
    A paper check payment option for parents or students to use when making online payments
    e-ValuCheck is not an ACH-based transaction as are most online check payment systems
    With e-ValuCheck, student payments are available to the school as fast or faster than with any other form of payment
    Transactions are handled by e-ValuCheck and the university's bank
    The authorization process for these checks is an online real-time process
    All payment information is maintained at one location --- the secure e-ValuCheck server, thus the school is relieved of the burden of safeguarding this sensitive information
    The bank will provide optimal check clearing and funds availability to the university
    Payment settlement to the university's account on a real-time daily basis, and detailed deposit reports as an end-of-day function via online balance reporting
    The check is returned to the student or student's parent in their end of month bank statement as receipt and proof of payment

e-ValuCheck will reduce the cost of payment processing