Vendors also provide credit authorization services to other industry sectors such as medical and utilities.
CHECK VERIFICATION/GUARANTEE EXPENDITURES
Guaranteeing retail checks is by far the major service offering in this sector. As shown in Exhibit 1 11-5, check verification represents about 8% of the total market. Retailers find identification of bad checks helpful to reduce bad debt but with verification, the burden of check acceptance remains with the retailer. Continue reading “CHECK VERIFICATION/GUARANTEE EXPENDITURES”