Genie Gateway Checks Its Check22 in Where No Check Has Gone Before
Services innovator extends its patented online check payment method to Merchants without checking accounts!
Genie Gateway announced today that its Check22 online payment system, on which patents were filed in 2014, is being expanded to provide a method of check handling specifically for “unbanked” merchants who are unable to use a traditional checking account.
“Check22, our answer to the so-called ‘Check 21’ law, passed October 28, 2003, has been enhanced to let ‘unbanked’ merchants accept a customer’s personal check, even when the merchant has no checking account,” said Genie Gateway CEO Thomas E. Skala. “We are continuing our all-out war on the ‘grab’ model of payment processing, while giving smaller ‘niche’ businesses new tools, and helping to eliminate many risks for consumers.
“This outgrowth of Check22 gives consumers control of who gets money from them. At the same time, Check22 lets small and medium businesses that may not have been able to accept ANY checks, enjoy a streamlined, automated payment handling system, without investing a dime in software development.”
CTO Stuart Scamman explained, “With the new features of Check22 a merchant takes a check from a new customer, enters the basic information – account and routing number, amount, etc. – along with the customer’s cell phone and email address. The customer gets a confirmation request on their cell phone. When they approve, funds are immediately credited to the merchant; the customer’s check is stamped “PAID with Check22”, and handed back as a receipt, and the transaction is done! Returning customers only need to use their cell number to make a purchase.
“This new business method will fundamentally change the collection, payment and settlement activities of lenders, merchants, commercial enterprises and service providers.
“All of this is based on the proprietary API we’ve invented for Check22, extending our basic ‘push’ model into a tightly controlled, yet flexible integration by associating a customer’s existing off-platform DDA checking account with their Genie CashBox on one end, and a merchant’s commerce and payment systems on the other.”
“We are giving small and medium sized merchants, who never had the resources to take advantage of the features of the old ‘Check 21’ law, an entire set of tools to connect with customers and manage their payment and collection activities through Check22,” continued Genie Gateway COO Randall Skala. “With Check22 – as with our entire Genie platform – we’re putting consumers back in control by letting them decide when and how much to pay a merchant. ‘Push’ instead of ‘grab’.
"Nor are we standing still! Soon to come, we will be rolling out our Genie CashBox – Debit Card, an extension of Check 22 that will make it even easier for unbanked merchants and their customers to do business without using cash.”
Genie Gateway has announced that Check22 will be included in all Genie CashBox and GenieChecking accounts. Consumers only need to complete a simple, secure activation process. Merchants can activate Check22 easily and will be given simple instructions for connecting their existing receivables into this new service.