Services Overview

Advanced eCheck Services

Pangea provides a solid, redundant and scalable eCheck Solution for a wide range of customers from Low to High risk accounts.

Our back-end Bank verification and Scrub allow our customers to rest at ease knowing that charge backs will be minimized.

Credit and Debit Card Processing

Pangea provides both Debit and Credit Processing Solutions.

Our services are both domestic and international.

Dynamic Compliance Solution – How it Works

Stage 1

  • In this step, we verify that the account and routing numbers are correct, bank approved numbers.  We use the check sum formulas and a process that we developed to verify these numbers.  During this process we also ensure that we have not lost any data or had any issues with the file.
  • It is very common for us to find invalid account and routing numbers.  We have developed a database of nationally valid and invalid routing numbers.  We continue to develop and grow this database to keep it up to date.  This helps us ensure any invalid routing numbers are scrubbed out in the first step.

Stage 2

  • In this step, we use our “Bad Account” database to remove known bad account information.
  • We also confirm that we are not submitting the same borrower across multiple clients.  This ensures that we are not debiting the account for multiple companies on the same day. The bank views this activity as a sign of account trouble including potential bankruptcy or fraud, which could leave them to freeze the account to protect their interest.
  • We also check for accounts with negative account data. Negative account data is our proprietary algorithm that is built to help determine if a transaction is high risk. This algorithm is continually enhanced for the purpose of increasing what can be sent to the bank while keeping returns at a minimum. This ensures that we are able to collect the maximum amount for our clients while keeping the returns within acceptable limits.

Stage 3

  • This Step we Ping Verify that the account belongs to the individual who is submitting the Debit.  We verify address and ensure that they are on the account.  In this step our algorithm is looking for any fraud potential that might exist such as the information not matching the bank records.  Also we look at the potential of return on the account.
  • If an account has no data this usually entails a new account and the risk of return is extremely high here.  If the Customer has just opened an account and is taking out a PDL the Bank views this as a high fraud risk.  And the Risk of return Increases as the bank is always looking to protect their own interests.

Stage 4

  • This step we ping the accounts for Funds Verification.  With funds verification we include the minimum account balances to the amount verified to minimize the chance of returns.  This is very simple: if they have money we debit, if not we don’t.

Scrubbing gives us the ability to minimize returns.

Scrubbing gives us the ability to minimize returns and keep accounts open so that our Clients can continue to stay in business.  With the new legislation coming and the Consumer Fraud Protection Bureau (CFPB) that the Dodd–Frank Act set in place, the Banks have never been so hostile to the Short Term lending Industry and any industry, for that matter, that has a return rate greater than 1%.