Vantiv's National Processing Company and TransFirst provide check payment processing companies to businesses and institutions. These two companies process checks by examining scanned copies of checks sent in by their clients.
Vantiv describes the check processing services offered by its subsidiary, NPC, as occurring in four steps: NPC's clients first scan the check, and the company then verifies and authorizes the transaction. It then deposits the funds into the client's bank account and then guarantees them. The company offers a check processing solution called Check 21 Plus, which supports guaranteed funding and nonguaranteed funding. Vantiv explains that this is option is useful in retail environments where customers rely on face-to-face transactions.
TransFirst uses a proprietary check processing system called CrossCheck, which offers its clients electronic check processing at the point of sale. The company offers four CrossCheck programs: standard verification, standard guarantee, premium verification and premium guarantee. Merchants using standard verification are responsible for lost funds due to returned checks, while merchants that purchase standard guarantee services are refunded the value of lost funds on returned checks. TransFirst's premium verification and guarantee services offer its clients check processing without the need of a point of sale terminal; a specialized check reader or imaging device is used instead.