Until very recently, various agencies and industry leaders were focusing on the concept of online security that has suggested consumers to use the methods of e-purchase with credit cards. However, all shoppers do not have credit cards and the process of obtaining one has also become very difficult. Because of the constant threat of non-payment, credit cards have also become an insecure option for lenders and users. Given an option, shoppers would choose anything but credit cards. Virtual check is one such option that has turned out to be really fruitful.

The concept of virtual check is relatively new. It is an innovative method of payment that was introduced by a technology developed by Equifax and TeleCheck - the two companies having an impressive reputation worldwide. The companies worked together to establish a completely new arena of virtual world that gave solace to merchant and wary e-consumers.

Virtual check has been a highly appreciated method of payment and there are several factors about this facility that has been helpful in broadening the overall appeal and use of the same. Its widespread use and accelerated acceptance has driven a steady growth in customer size. Several check verification services have also been introduced to ensure that the technology works effectively.

There is a specific that works as a driving force for virtual checks, enabling banking institutions to ensure that checks are cleared faster. As a matter of fact, virtual checks go through check verifications services that work much faster than processing and approving any credit card.

It has been estimated that over 11% of the online payment is done through traditional checks, which usually takes several days for clearance. However, with a virtual check, people can have instant access to the consumer data, which will expedite cash flow to help merchants accept them.

Consumers holding online baking accounts can include the virtual check facilities in the list of their services. Such groups of consumers will be dealing with only one financial service provider, instead of several backs used for checking or other companies taking a part for credit monitoring.

Technology has advanced to such heights that now people can allow their virtual check to become a part of their digital wallet too. A digital wallet will store the date of an individual consumer so that buyers do not have to time and again enter their personal information on the website they have accessed for their purchases.

While the prospect of virtual check seems bright and convincing, there are skeptical buyers that might not want to use the facility. The safety issue of technology is something that a certain section of the consumer base is not convinced about. Only through proper channeling and marketing, it will be possible to reach the global consumer base.

Virtual check http://www.virtualcheck.com is a new concept. It is likely to be accepted over the years. Check verification services http://www.virtualcheck.com/index.php/check-verification work in sync with the technology.