Press Release Source: Electronic Check Alliance Processing, Inc.
Electronic Check Alliance Processing, Inc. Poised to Release its Highly Anticipated Back Office Conversion Thursday May 18, 2005 St Paul, Minnesota.--(BUSINESS WIRE)—May 16, 2005 - Electronic Check Alliance Processing, Inc. (e CAP) announces it will be amongst the few processors prepared to participate in a pilot of the check industry’s strongest new service, Back Office Conversion (BOC). Due to the input from retailers struggling to simplify the process of accepting and processing high volumes of checks, NACHA prepares the business case as the industry awaits the green light to clear the path to a solution.
Back Office Conversion (sometimes referred to as distributed capture, remote capture, remote deposit, and electronic deposit) is a relatively new concept that is designed to identify the lowest-cost routing option for a particular check transaction.
e-CAP is preparing to provide the same lowest-cost settlement route advantages it has through its products such as Point of Sale Conversion (POP) and Accounts Receivable Conversion (ARC), as well as its other ACH products to businesses that in the past could not utilize these technologies due to cost, NACHA rules conflicts, etc:
• Increased funds availability • Ability to reduce the number of bank relationships • Simplified concentration of deposited funds • Fewer deposit runs (needed only for non-U.S. checks and cash), which should reduce courier fees and staff time • Automation of bank deposit and fewer deposit prep tasks
In a recent interview, e-CAP’s COO, Ray Robbins, cited the benefits listed above as well as stating “that the e CAP BOC product offers an inexpensive way for merchants to process payments electronically. Electronic check processing is gaining momentum in the marketplace, and e-CAP’s BOC is the perfect tool for any business accepting a high volume of checks. e-CAP’s BOC was written to integrate seamlessly with existing platforms. Electronic check processing through the ACH offers a competitive alternative to processing paper checks, and in most cases is superior to debit cards in terms of price and value."
Electronic Check Alliance Processing, Inc. is headquartered in St. Paul, Minnesota, and provides hardware, software and services related to the processing of electronic payments. http://www.electronic-cap.com
Contact:
Electronic Check Alliance Processing, Inc. St. Paul, Minnesota 877-898-8987 x 225 Fax: 651-209-0778 Email: Info@electronic-cap.com
Source: Electronic Check Alliance Processing, Inc.
** This is a re-release from Monday May 16th 2005
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