Electronic Checks

Many financial institutions that have jumped into remote deposit capture to reap fee income, or have shied away from it out of fear of risk, may be missing the point, according to experts who spoke this week at a conference on the subject. Instead, banks and credit unions should focus …

Early adopters in the consumer remote deposit capture market say their services are a hit with customers, but they also say they are able to keep risk under control as remote deposit for smart phones seems poised to hit the big time. “It’s actually something that’s been very, very successful …

Countering the perception that they’re not as tech-savvy as their banking brethren, credit unions are adopting imaging ATMs at a greater rate than banks, according to new findings from Celent LLC. In fact, when it comes to adoption of 14 tech-related services or operations for branches, including imaging ATMs, credit …

Already a force in remote deposit capture and specialty deposit and payment services, privately held BServ Inc.’s BankServ on Tuesday announced that it would acquire a pioneer in the remote capture niche, Zions Bancorporation’s wholly owned NetDeposit LLC subsidiary. The combined operation will serve more than 100,000 business locations and …

With the nation’s largest bank processor on board, mobile remote deposit capture seems likely to get a big boost beyond its early-adopter phase of a handful of pioneering financial institutions. Brookfield, Wis.-based Fiserv Inc. on Wednesday announced the launch of the service it dubs Mobile Source Capture, which allows a …

NACHA, the regulator for the automated clearing house network, announced on Tuesday it has launched a long-awaited pilot for a payment method that would let banks convert low-value consumer checks into electronic transactions and then clear them through the ACH. The method, called Deposited Check Truncation (DCT), is intended to …

Overall automated clearing house transaction volumes grew only 1.5% in the second quarter versus the year-earlier period, but most of the electronic-check ACH applications grew faster. The notable exception was ARC, for accounts-receivable conversion of bill payments sent to lockboxes. Continuing a trend that started two years ago and likely …

Mobile remote deposit capture took a couple of steps forward over the past week, though how big those steps are won’t be known for a while. First, alternative payments leader PayPal Inc. indicated that it was configuring its application for Apple Inc.’s iPhone to handle mobile remote deposit. And mobile …

Transaction volumes are rising on the automated clearing house, but a recently released survey shows a nasty side effect of this growth is a rise in the volume of disputed transactions. Some 63% of processors and financial institutions reported they handled more disputed, or unauthorized, payments last year than in …

A Canadian processor that has sued more than a dozen major banks and PayPal Inc. over a patent it says covers virtually all of the electronic-check payment types supported by the automated clearing house network scored another victory with its announcement on Monday of a settlement with San Francisco-based Union …