Also referred to as an "echeck".
Electronic checks have been developed in response to the transactions that have arisen in the world of electronic commerce. Electronic checks can be used to make a payment for any transaction that a paper check can cover and are governed by the same laws that apply to paper checks.
This is the first form of internet-based payment that the U.S. Treasury uses for making large online payments.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
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electronic check-out scanner — noun → check out scanner. Also, electronic checkout scanner … Australian English dictionary
Electronic Check Clearing House Organisation — A US organisation formed in 1990 to provide a forum for organisations involved in electronic cheque presentation (ECP). Current (1992) membership stands at 60 medium and large US banks … International financial encyclopaedia
Check Conversion — A reformatting service offered by banking merchants. Check conversion allows banks to convert paper checks into electronic ones and then send them to the appropriate receiving bank. The electronic check is forwarded on via the automated clearing… … Investment dictionary
Electronic Payment Exchange — Headquartered in Wilmington, Delaware and with offices in Phoenix, Arizona, payment processor [http://www.epx.com/index.html Electronic Payment Exchange (EPX)] emerged as a division of a local bank headquartered in Wilmington, Delaware. The… … Wikipedia
check-out scanner — /ˈtʃɛk aʊt skænə/ (say chek owt skanuh) noun a barcode reader at the check out of a supermarket or other store which records the prices of the items purchased. Also, checkout scanner, electronic check out scanner. –check out scanning, noun … Australian English dictionary
Electronic Cheque Presentation — Is the electronic transmission of MICR information. This technique greatly accelerates the processing of cheques in a clearing house. ECP relies on sophisticated imaging processing techniques to read the paper cheques and then EDI to transmit… … International financial encyclopaedia