Electronic Checks

As bills paid the old-fashioned way–through the mail–decline while online bill payments boom, a Digital Transactions News analysis of recent automated clearing house data shows Internet-based e-check traffic approaching transaction volumes of check conversions for conventional bill payments. At the current rate, the Web-based payments could surpass these paper-based check …

Bank technology provider Jack Henry & Associates Inc. on Monday said it would buy Goldleaf Financial Solutions Inc. in a $19.1 million cash deal that will bring two of the leading deployers of remote deposit capture services under one roof. The pending acquisition will be Monett, Mo.-based Jack Henry's 17th …

USAA, one of the pioneers of remote deposit capture, leaped to the technological frontiers again on Tuesday with the addition of remote deposit capture capabilities to its three-month-old mobile-banking application for Apple Inc.'s iPhone. The new feature enables customers to snap a picture of a check's front and back, and …

Mitek Systems Inc., whose software allows users to create check images with their camera phones and then use the handsets to send the images to banks for deposit, signed its biggest processor to date this week for the six-month-old technology. Milwaukee-based Fiserv Inc. agreed to adopt Mitek's Mobile Deposit product …

Merchants that are good prospects for accepting remote deposit capture services have different needs from many credit and debit card-accepting merchants, but independent sales organizations that do their remote capture homework will be rewarded. That was the word on Wednesday from several vendors speaking at the MidWest Acquirers Association 7th …

So-called third-party checks represent a potentially lucrative niche market for remote deposit capture, and now a biometric-authentication vendor has been granted a patent for a process by which such checks can be authorized and imaged for deposit under Check 21 rules. AllTrust Networks, which announced the patent last week, now …

With the deadline just three months away, the banking industry is scrambling to implement IAT, the new automated clearing house code for international transactions. IAT originally was to take effect March 20. But NACHA?The Electronic Payments Association, governing body of the ACH, last July pushed it back to Sept. 18, …

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 …

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 …

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 …