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Wausau Financial Systems Inc., which late last year introduced a version of its remote deposit capture product specifically designed for independent sales organizations, has signed one ISO and will have three more on board by the end of the month, according to a company executive and company reports. Wausau, a …
Read More »Stats Show Bill Payments Remain the Star of E-Checks on the ACH
Internet bill payments were the lone stars of electronic checks in the first quarter, a quarter that saw volumes on all other e-check applications either decline or barely rise from fourth-quarter 2008 levels. Most e-check codes also declined on a year-over-year basis, according to the latest automated clearing house volume …
Read More »By Snapping up Commerciant, BankServ Enters Mobile Market
Specialty payment processor BankServ, one of the pioneers of remote deposit capture, is preparing a move into the mobile-payments market thanks to its recent acquisition of the assets of Commerciant LP. Houston-based Commerciant offers merchants wireless payments software and a unique wireless terminal that scans checks and takes credit card …
Read More »A Rival Emerges to the Fed’s Plan for Faster ACH Clearing
A Federal Reserve Bank proposal to speed up settlement times for certain automated clearing house transactions has provoked at least one electronic-payments executive to offer an alternative proposal that he says will accelerate clearing times without the threat to banks he sees in the Fed's idea. Danne Buchanan, chief executive …
Read More »Why the Fed Is Moving to Same-Day Clearing for E-Checks
Looking to speed up clearing time for electronic checks on the automated clearing house, The Federal Reserve Banks on Monday announced the first change to the settlement windows for the ACH network in 35 years. The change, which is set to take effect in the second quarter of next year, …
Read More »New Products Could Spur Holdouts to Jump into Image Exchange
Viewpointe Archive Services LLC this week introduced two products that, the company says, respond to rising volumes of imaged checks and could smooth the way for more financial institutions to participate in end-to-end image exchange. One of the products catches mismatches between check images and the data contained in associated …
Read More »Push for Deposits Lends Impetus to Consumer And Mobile Capture
Yet another banking industry vendor, NCR Corp., is entering the consumer-capture marketplace. But as the field of providers gets more crowded, financial institutions are struggling to get a decent return on technology that enables consumers to make images of and deposit checks from their homes, according to an industry analyst. …
Read More »New Banking Group Aims at Smoothing out Image-Exchange Process
A new, eight-member banking group that is working to smooth out the remaining kinks in image exchange, the process by which paper checks can be turned into images and settled electronically, has released four recommendations and is working on another eight. The Image Industry Interoperability Group, or i3G as it …
Read More »ACH Bill Payments Shine As Other E-Checks Dim with Check Decline
Internet bill payments were the star performers among the established electronic-check payment options during the fourth quarter, according to figures released Wednesday by the governing body of the automated clearing house. NACHA reports that transaction volume on its WEB e-check code, the code for online transactions such as bill payments, …
Read More »ISO First American Seeks Early Mover Advantage with Remote Capture
Further evidence that independent sales organizations are mobilizing to sell Check 21-based electronic check processing to merchants emerged last week with First American Payments L.P.'s announcement that it will re-sell remote deposit services from RDM Corp., a Waterloo, Ontario-based vendor of electronic-check solutions. Fort Worth, Texas-based First American, which provides …
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