Today we are very excited to announce that Simple Check Service's public availability! We piloted this product with select customers over the recent months and seen terrific results. To date, we have processed well over $2 million of physical checks via our API. A big thanks goes out to our customers who have spent the past few months helping us test & debug this product. It's very exciting to finally make this product publicly available starting today.
When customers print and mail checks via our Simple Check Service API, they know the quality is pristine and the security is military grade. Such elements include a colored background, watermarks, and microprint borders. The printing on the checks include thermal ink (disappears when rubbed) and Magnetic Ink Character Recognition (MICR) encoding that facilitates bank processing and reduces errors drastically.
In short, we've implemented many safeguards and procedures on the back-end to make sure that our customers are safe when they use our physical check API. We pay great attention to detail on all aspects of our products to keep our customers happy.
Many businesses both large and small are still paying their vendors, suppliers, contractors, etc. with physical checks. With many of our customers, this is an established process that they need to continue for the foreseeable future.
When payment amounts are huge, it is more cost-efficient to pay via checks than it is through other credit card and ACH services that charge a flat transactional fee. With businesses that get invoiced large amounts on a regular basis, our check API is a no-brainer.
Physical checks are a payments staple that we believe will be in heavy demand going forward. Integration of our API allows these businesses to automate the whole process and add it to their payment stack.
Our checks currently cost $2.50 per piece. This was the beta price and it is what we are keeping for now as we release it from beta. As with all of our products, we are constantly reviewing our pricing to see if we offer even better pricing down the line as demand grows. With our API offering, we strive to offer high quality products and competitive rates.
As we continue to build out our product offering, we will continue to work with our customers to refine and improve on all aspects of our service. If you have any questions, concerns, comments, or thoughts, please do not hesitate to reach out to us! We will be sure to get back to you quickly.