TradeSphere Ideas

Check payments require a bank to verify a physical check and send it to the other bank associated with the transaction, which then verifies the physical check. Check truncation refers to the process by which banks verify fund transfers with digital checks. Through check truncation, both banks can verify a digital check, eliminating the need to transport physical checks. While eCheck processing is faster than traditional check processing, the information required for payment processing remains the same.

https://www.offshoregateways.com/echeck-payment-processing