ElectraCash’s new tool: customers can sign e-checks with a mouse

A provider of online payment processing services ElectraCash, Inc. announced that it introduced a new tool to enable end-users of electronic checks to sign and thus verify their online transactions by means of their standard computer mouse. The tool represents a unique signature "print" called "SignatureSafe" that is claimed to enhance both level securities for the consumer and merchants.

According to ElectraCash, SignatureSafe will be applicable to all the four payment methods but it will be obligatory only with Check21 service where consumers produce a signed paper check which ElectraCash then turns into a substitute check using a digital image of the original.

"This new image exchange capability brings a new level of authorization and fraud protection technology that is crucial for financial services companies as online commerce continues to evolve," said Lee Falls, CEO of ElectraCash. "New laws clearly defining the requirements of electronic payments will usher in a new era of data security and encourage a spike in new products, including online access to check images, as banks move to eliminate paper and endeavor to become more cost-effective financial institutions."