Hugo González
Commercial Manager
Check Plus
View from the Top

Getting Rid of Check-Payment Risks For Good

By Alejandro Enríquez | Fri, 01/08/2021 - 06:00

Q: How does Check Plus add value for its customers?

A: Check plus has a team of 400 people, and it is one of the very few companies in this segment. There are just two other large companies in the country that can match our services. We are a Mexican company with a national footprint.

When people talk about checks, the first thought is that they are outdated compared to digitals tools. Interestingly enough, though, a variety of sectors continue to work with checks. The very first thing new companies do is to set up their own checking account, even if they do not use it. Contractors, for example, usually prefer checks over cash. Not many businesses handle cash due to the risks this represents. That is where Check Plus comes in: to eliminate the risk so people can proceed with their transactions. We guarantee people will receive their money in less than 72 hours, mitigating the risk for our customers. This increases sales for the companies involved, provides certainty and eliminates the need to collect cash.

Our core business is securing check payments. Additionally, we provide revolving credit. We assess our customer’s potential payment capacity and offer them the option to present a check as a guarantee to purchase through credit for 30 to 60 days. Our 25 years of experience provides us with unique expertise and data and our state-of-the-art analysis department allows us to assume this kind of risk.

We also offer our Soluciones Plus service that helps companies with their cash flow. This is an anticipated payment option that companies can offer their customers.

Q: What are the immediate benefits companies get from contracting Check Plus’ services?

A: The first benefit we notice is an increase in sales. When companies broaden their ability to accept other forms of payments, this expands their customer base. Sales usually increase from 35 to 40 percent, depending on the business. Many companies have migrated toward this system. Purchase payments also shift; clients that handled 70 percent of their purchases in cash now handle these with checks. Another major benefits from our system is liquidity. We have put a great effort into developing this business. We handle serious data about checks that are returned, including their value. We deal with around 10,000 transactions a month.

Q: How have you adapted your business model to deal with the concerns related to COVID-19?

A: These are unprecedented times for everyone. Nobody has previous experience in these kinds of situations. We have maintained close communication with our customers to build mutual trust. They are aware that we work 365 days a year for them. In addition, we offer our e-check app, which is a digital method the customer can use to validate checks by themselves, receiving the authorization in a matter of seconds. Many of our customers are worried about their sales and they see us as a strategic partner during these times. However, this does not imply our sales have grown. COVID-19 has affected us as well.

Q: How is Check Plus adapting to an increasingly digital world?

A: Members of our board have talked about this for years. In reality, many sectors continue to rely on checks. For instance, in the construction sector, all purchases imply large amounts of money, which means contractors always have their checkbooks with them. Not everything can be done through digital transfers. We have learned this due to our experience working with CEMEX and Home Depot, which still remain in our portfolio. Another example are car dealerships. When paying with credit cards, dealerships charge 4 percent of the total amount to conclude the transaction. Thus, checks remain available options. The same is true of hospitals and even private universities. There are many businesses that still accept checks. It is true that most businesses worry about check payments when it is a large amount of money, but that is when we can help.

Q: What role does data analytics play in Check Plus’ operations?

A: We have really robust IT and business intelligence departments. We have developed information systems that generate the data we use, which helps to provide certainty in our decisions. There are 25 years of data in there that our in-house systems use to perform risk analysis. We will know if a fraudulent person is again trying to use a false check at one of our customers’ sales points, for example.

Q: What are your priorities for the next five years?

A: We plan to consolidate the exponential growth the company has had in the country. We are present in 50 cities across the country but there is still a lot of room to grow. We are also renewing our plans to expand to the US where there is a well-established check culture. We are planning to launch operations there in 2021.


Check Plus is a Mexican company with more than 25 years of experience guaranteeing check payments for different sectors. The company is present in 50 cities and some of its customers include Home Depot, CEMEX, Interceramic, Soriana, Walmart, Tecnológico de Monterrey and Telcel

Photo by:   Check Plus
Alejandro Enríquez Alejandro Enríquez Journalist and Industry Analyst