According to the company, the product facilitates the check clearing process by allowing users to digitally capture check images and data, eliminating the need for physical transport.
The Distributive Capture platform is web enabled to provide access to electronic files over the Net. Fees for the application are charged through a price per transaction model.
Recent changes in the Nacha rules and the creation of Check-21 enables banks, retailers and billers to electronically process paper checks and other forms of payments. The transition to electronic processing of payments, via Automated Clearing House (ACH) or Check 21, is expected to create greater efficiencies and immediate cost savings for the retail and remittance industries.
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