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August 03, 2015 6:41 PM ET

Internet Software and Services

Company Overview of VerifyValid, LLC

Company Overview

VerifyValid, LLC, a Web-based payment enablement and fraud prevention company, provides VerifyValid, an online payment enablement platform and a Web-based transaction processing solution. It offers Web-based checks that enable payors to generate a check and deliver it via the Web; and payees to receive a legally valid check that is used where checks are accepted. The company also provides the framework for electronically validating checks; and online authentication. VerifyValid, LLC serves businesses, financial institutions, and individuals. The company has a strategic partnership with Michigan Bankers Association. VerifyValid, LLC was founded in 2010 and is based in Grand Rapids, Michigan.

401 Hall Street

Suite 213

Grand Rapids, MI 49503

United States

Founded in 2010

Phone:

616-272-4960

Key Executives for VerifyValid, LLC

Chief Executive Officer
Chief Technology Officer
National Sales Director
Vice President of Sales and Marketing
Compensation as of Fiscal Year 2015.

VerifyValid, LLC Key Developments

VerifyValid Launches Mobile Checkbook App in Google Play Store

VerifyValid has launched a mobile checkbook app in the Google Play Store. The Android-based app offers businesses and consumers a mobile payment channel that eliminates card interchange fees while providing the security, convenience and familiarity of checks. VerifyValid Mobile Checkbook lets businesses and consumers write, approve, sign, receive and deposit checks directly from their Android phone or other Android-based device. The user can send a VerifyValid e-check directly via the Internet by specifying an email address for delivery. Separation of controls, allows a business owner or parent to review and sign checks written on their account from anyplace with cellular or Wi-Fi access. Because the app operates on an open network, the user can send e-checks to any recipient with a valid email address, even if the recipient is not a VerifyValid user. VerifyValid check authenticity can be fully validated, allowing any user to confirm that a check was issued from an authenticated account and has not been altered in any way, helping to mitigated attempted fraud. The app also lets users manage payments directly through their smartphone or other mobile device. When they open an account with VerifyValid, users receive access to a free personal e-lockbox, where they can view all e-checks they have received in one convenient location. From the e-lockbox, users can then print e-checks or deposit payments directly into their checking account at participating financial institutions.

Lake Michigan Credit Union Enters New Digital Partnership with VerifyValid

Lake Michigan Credit Union announced that it is partnering with VerifyValid, to allow its members to quickly and easily receive, manage and deposit VerifyValid eChecks directly into their accounts. eChecks combine the speed and convenience of electronic payments with the safety, familiarity, and information of paper checks, and can be sent from any computer, tablet or iOS phone. eChecks are currently used by individuals and businesses, such as Grand Valley State University, one of West Michigan's large employers, to pay many of its vendors. Additionally, the rate of eCheck usage is increasing nationally through partnerships between VerifyValid and Deluxe Corporation. With the number of eChecks in circulation increasing every month, under the new partnership, LMCU members with a VerifyValid eLockbox will have the ability to safely and securely deposit eChecks into their LMCU account.

VerifyValid Launches Its Mobile Checkbook App in the Apple App Store

VerifyValid launched its Mobile Checkbook app in the Apple App Store. The app provides consumers and businesses alike with a simple-to-use mobile payment channel that avoids card interchange fees and provides the security and convenience of checks. The Mobile Checkbook expands the VerifyValid portfolio, especially for small businesses and consumers, by making the checkbook the most portable form of payment available. VerifyValid's Mobile Checkbook app makes the process of sending and receiving check payments both easier and more powerful by enabling businesses and consumers to write, approve, sign, receive and deposit checks from their iPhone or other iOS device. Because the Mobile Checkbook app operates on an open network, individuals and businesses can send eChecks to anyone with a valid email address, whether they are a VerifyValid user or not. However, for new customers VerifyValid is offering a free starter checkbook to display the power of eChecks as a viable mobile payment method.

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