| Overview |
The payment
processing system is intended to address the needs of organizations that
process "retail" payment transactions using one or more one or
more payment stubs and one or more checks. Payment stubs are
machine read and checks associated with them are imaged, endorsed,
encoded and sorted to out baskets using stringent batch control.
Operators validate the payment amount or enter the true amount remitted
with the stub.
Various reports are generated
providing audit trails and batch summaries for the checks.
Accounts Receivable information is formatted for upload into the
transaction system, reducing the amount of data entry required to record
payments.
Individual workstations can
process in excess of 2000 items per day based on limited operator
intervention.
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Features of the Payment Processing system |
| Endorsement |
Endorsement is
completed by a programmable matrix endorser. Single Line matrix -
70 characters, compliant with RegCC. Alternate endorsements can be
chosen during setup. |
| Encoding |
Standard E13B
encoding from a cartridge ribbon. The main standard ABA field to be
encoded is the amount field. |
| Imaging |
The system provides
Imaging of front and rear of Items. Indexing is done automatically
using content read from the items. Both OCR and MICR reading
are employed.
Images of checks can be
retrieved using any of the index values captured such as Account Number,
check number, etc..
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| Exceptions |
The system provides
for items and transactions that do not comply with the standard
situation. Operators can handle exceptions without loosing control
of the batch. |
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