November 24, 2014 10:39 AM 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 2014.

VerifyValid, LLC Key Developments

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.

Deluxe Corp. Partners with VerifyValid, LLC to Offer Online Check Payments

Deluxe Corp. has entered into a strategic partnership with VerifyValid, LLC to offer electronic payment solutions to small business customers currently served by Deluxe. The VerifyValid service enables bank customers to securely make and receive check payments entirely online, utilizing a virtual lockbox and virtual remote deposit capture system. VerifyValid also helps prevent check fraud having pioneered and delivered the industry's first working platform for universal positive pay.

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