Payment Product Eliminates Check Fraud

by Mike Hunter

Losses from check fraud total $18.7 billion and affect more than 70 percent of organizations each year. ValidCheck is a new eCheck product designed to eliminate fraud and streamline the way consumers and businesses process transactions online. It was conceptualized by Matt Widdows, founder and CEO of Scottsdale-based HomeSmart International. Each ValidCheck eCheck contains the same components as a traditional check, and integrates with Positive Pay, a banking feature that virtually eliminates check fraud. Unlike other means of paying electronically, ValidCheck
does not require the payee to download an app or register in any way, and funds are available immediately.

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