We are looking to form mutually benefiting partnerships with companies who are in related businesses such as Accounts Receivable Software developers and Credit Card Services or Merchant Services as well as other businesses that might be mutually benefiting. Our goal being to giving you the opportunity to make various aspects of Electronic Funds Transfer (EFT), Electronic Check Re-presentment (RCK), Lockbox Truncation, Accounts Receivable Truncation (ART) and Point of Sale Truncation as well as other related E-Commerce services available to your customers while earning you a residual income string.

As an affiliate with Electronic Funds Corporation, you are providing a valuable service that thousands of people want and need NOW.

There is no cost to become an affiliate and residual income funds are electronically deposited directly into your bank account with full report documentation being transmitted to you monthly.

There is almost no limit to the amount you can earn. This gives you a continuous source of income that can be generated by going to customers who are already doing business with you and offering the new services. You don’t have to go out and cold call and try to dig up new customers.

First let me address the benefits to the Software developers.

1. Your company will not be constantly ask by your users to develop interfaces to credit their accounts receivable for every EFT and RCK software that comes along in the future. You only build it once to communicate with our software. (Ours is a simple comma delimited file).
2. Your company will be perceived as progressive and on the cutting edge of technology.
3. It’s easier for you to sell a new product to an existing customer who already has a relationship with you than it is to keep finding new customers.
4. Some Software companies have already seen the potential in EFT and have programmed it into their Accounts Receivable programs.  However usually this is just an export function that still needs to be ACH formatted, encrypted and a conduit to the Federal Reserve.  That's where we can help not only by assisting you in offering a complete program but by also offering you a  per transaction income string.

Secondly to the Credit Card Services companies.

1. Your company will be perceived as progressive and on the cutting edge of technology.
2. It’s easier for you to sell a new product to an existing customer who already has a relationship with you than it is to keep finding new customers.

All we are asking you to do is introduce the concept to your users via a link to our Web Site, information on your Web Site, E-mail, Newsletters, Mailings or your Field Reps.. Once a user has expressed a desire to explore the benefits of any of the above, merely tell them that you will have us contact them. Then fill out the information requested on our Referral Sheet which is located on our Web Site, or may be downloaded and printed out at your office and then filled out and faxed to us. We will do the sales, setup, training and support. We even provide your customers with the authorization sheets and promotional materials to make it simple and easy for their customers to sign up. We will also keep you informed via Email or Fax every step of the way as to how things are progressing with your customer.

There might also be some applications in your own business where you might be able to use one of the E-commerce products we offer.

You have no doubt seen the numerous Newspaper and Television stories applauding the security, speed, simplicity, sudden popularity and many other benefits of Electronic Funds Transfer (EFT) or, as its sometimes called, ACH Processing.

Because Electronic Funds Transfer (EFT), which also has the Electronic Check Re-presentment (RCK) built into it as well is our most popular service.  I will give you a little information on both.

RCK is the process where by Non-Sufficient Funds checks can be converted to an electronic transaction and processed at the speed of light. Thus increasing the successful collection rate by approximately 40% while saving the merchant costly bank reprocessing and "NSF" fees. RCK also gives the merchant the ability to do specific date targeting i.e. resubmitting a NSF check on the 1^st or 15^th of the month when the check issuers bank account is most likely to have money in it. Thirdly, because the check has been converted to an electronic transaction, it is processed ahead of all paper checks.

Relative to EFT, approximately 80% of Europeans, 95% of Japanese, and 40% of Canadians have been using EFT for 14 to 20 years.

Just think in your own business, wouldn’t it be nice if you could just set down to a computer and send an electronic signal to your customer’s bank every month and with his pre-authorization, the bank would in turn automatically transfer the money owed to you right into your bank?

Automatic bill paying programs using pre-authorized electronic funds transfers are increasingly becoming more popular with all types of businesses. Your customer’s clients will appreciate the benefits of Electronic Funds Transfer (EFT) because they don’t have to worry about buying stamps, writing checks or rushing to your office at the last minute to prevent late charges and or service interruptions.

With our unique system your customers can receive pre-arranged amounts from their customers bank, deposited directly into their bank account, at any fixed date they have established. Our convenient automatic payment, software means your customer’s clients won’t have to set down and write a check to pay them every payment period. Your customer has complete control to start and/or stop a transaction because the software is resident in his computer.

EFT is safe, fast, convenient, and dependable because it is tracked and governed by the Automated Clearing House (ACH) division of the Federal Reserve Bank and ONLY pre-authorized transactions are processed. Consumers are also protected by the Electronic Funds Transfer Act of 1978. All transactions are transmitted via modem in an encrypted format.

Mortgage, Insurance, Charities and Utility companies have been doing EFT for years. It’s become so popular that many churches and charities are now doing EFT for their pledges. (If you like I will send you the newspaper article about the churches and charities).

The customers will especially like the convenience of not having to write small checks every month and in case of NSF (Non-Sufficient Funds or Account Closed, etc., etc.) checks, your customer doesn’t get charged a $10.00 or $20.00 NSF fee by his bank. Monies from customers are deposited directly into your client’s bank within 48 hours of billing date. Unlike now when its an average of 25 days from date of invoice to date payments are received.

If your customer had 2000 clients signed up for EFT, it would only take his billing department about 10 minutes a month to do all his billing.

1. Free Software includes Accounts Receivable and Accounts Payable
2. Takes the decision of who to pay and who to delay out of clients hands.
3. Convenient for clients. (No check writing, postage, mailing or late fees.)
4. Less annoyance with delinquencies.
5. Reduces cost of check processing.
6. Less billing and administrative cost.
7. Improves receivables up to as high as 40%.
8. Eliminates cost of labor and postage in preparing statements and past due notices.
9. Provides money in hand or NSF notice within hours rather than 7 to 10 days.
10. Greatly enhanced cash flow, thus allowing profit from short term investments.
11. Heightened company image as a creative and innovative company.
12. EXCELLENT FOR CUSTOMER RETENTION.

EFT is simple to setup (appx. 20 minutes) to install the Win95/98/NT software and about another 10 minutes to learn how to use it. No one’s bank needs to be contacted as we do everything through the ACH division of the Federal Reserve.

The ACH says Electronic Funds Transfer is far safer and more secure than writing a check. EFT is transmitted via modem in an encrypted format while a check passes through an average of 11 people who have access to all their bank account and personal information.

Your company lives by innovative technology, why not demonstrate it to your customers by offering them the benefits of E-Commerce?

This is a fantastic opportunity that is catching on very fast and we welcome your response. Please feel free to call us with any questions as we know that E-commerce is a new concept in the U.S. and you may not as yet thoroughly understand what we are proposing.

Sincerely,
Harold Willard
President