What is E-Check?
An electronic check is a new payment instrument that combines the efficiency, speed and security of a similar well-developed legal infrastructure and business processes with similar electronic transactions, structured with e-checks, paper checks, and so on. E-check is a statutory security, speed and efficiency of all electronic processes carried out by the Financial Services Technology Consortium (FSTC) in the United States using a marking language called SDML (Signed Document Markup Language) Infrastructure setup, business processes, and a new payment instrument that combines paper checks and consumer preferences. The e-check initiative is a system established by FSTC under the leadership of over ten banks, government agencies, technology providers and worldwide e-commerce organizations. Examples of institutions included in this study are Agorics Inc., Bank of America, Certicom, Defense Finance and Accounting Service, FED Financial Services, Fleet Bank, GTE, IBM, IntraNet, RDM, SafeNet, Sun Microsystems and US Treasury. E-Check is the first and only electronic payment system that creates high-value payments on the public internet selected by the US Treasury. The first e-check payment made by the US Treasury’s Financial Management Service (U.S. Treasury’s Financial Management Service) was made by GTE Interworking in exchange for a government contract payment. This payment was made by the Columbus Center of the Defense Finance and Accounting Service (DFAS Defense Finance and Accounting Service, Columbus Center).