iWallet integrates mobile check deposits for the Field Service Industry
By Edlyn Cardoza
iWallet, a FinTech startup, is expected to witness substantial growth with the addition of mobile check deposits for small businesses, which until now has been a void in the field service industry. Depositing checks is 19th-century technology with no innovation for field servicers. Companies with multiple technicians still batch checks and make weekly deposits at a local bank or have remote employees’ mail checks to the business office to be deposited. This outdated process slows down cash flow and opens up the possibility of accepting bad checks or losing them.
iWallet eliminates the need for employees to take time away from work and drive to a local bank to make manual deposits. The app seamlessly integrates mobile check deposits and includes credit card processing into one app that technicians can access from a phone or tablet. It provides the same level of convenience and security that you get with a personal banking app, but it offers unlimited subaccounts giving all workers a unique portal to make their deposits. Individual subaccounts keep the company’s banking information private and other employees’ deposits confidential.
“Depositing checks with iWallet also provides peace of mind with built-in fraud detection. The app helps eliminate the possibility of accepting bad checks because they are run through a national database to review high-risk deposits and makes a decision to accept or decline checks in real time, with 98% accuracy,” states Jim Kolchin iWallet Founder and CEO.
iWallet technology is an end-to-end app for managing all forms of payment processing. There are no setup fees, no minimum balance required, no cancellation fees, and setup takes five minutes.
Simply put, iWallet is the only secure payment processing app to help simplify the field service industry. It’s easy to use and allows multiple field workers to instantly deposit checks into a company bank account with confidence while minimizing check fraud and improving cash flow.
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