Remote Deposit Capture

Cachet Financial Solutions Inc., a small tech company best known for providing remote deposit capture services to banks and credit unions, is trying to raise nearly $14 million in new equity to shore up its finances while pivoting toward prepaid cards and facing a legal deadline to rebrand. In a …

By Jim Daly@DTPaymentNews Web- and mobile-based banking and payment services still have large room for growth, although online bill payment seems to have hit an adoption ceiling, according to a new survey of banks’ usage of software-based services for consumers. Chicago-based investment firm First Analysis Securities Corp. interviewed executives from …

• PayPal Holdings Inc. plans to cease operations in Turkey in the next week because financial regulators there rejected its license applications, apparently because it does not keep its IT systems in Turkey, Fortune reported. • Some 88% of 400 respondents to a RemoteDepositCapture.com poll about risk said the benefits …

• Imaging applications developer Mitek Systems Inc. said its Mobile Deposit service has processed more than 1 billion check deposits; more than 5,000 U.S. financial institutions and 70 million of their customers use Mobile Deposit. • Payments company Zooz closed on $24 million in funding that it will use for growth, …

· Technology-testing provider UL says its cloud-based payments test suite has been approved by MasterCard Inc. It is used to test MasterCard mobile-payment applications. UL also says it now supports a new type approval program for mobile devices against an EMVCo standard. · TD Bank Merchant Solutions will offer small …

• Visa Inc. unveiled a new interactive button for its Visa Checkout online and mobile commerce service that allows shoppers to complete an online purchase by sliding a virtual image of their credit, debit or prepaid card across the screen of a smart phone, tablet, or laptop. • Visa will have its …

Ingo Money Inc. this week introduced a feature on its 3-year-old mobile app that allows users to split check deposits across multiple accounts, including bank accounts, prepaid cards, bill payments, and PayPal. Using Ingo’s decision engine and bank integrations, the feature also offers immediate, guaranteed funds availability. The feature works …

Fears about fraud losses from duplicate check deposits have plagued mobile remote deposit capture since its inception. Finding data to confirm or debunk those fears, however, has been tough, at least until now. It seems that mRDC fraud is pretty low, according to results of an April-May survey that Alpharetta, …

Technology enabling consumers to deposit checks by snapping pictures of them on their smart phones and uploading the images through their mobile-banking apps has been around for more than five years, but mobile remote deposit capture very much remains a new product for many banks. An April-May survey by Alpharetta, …

A new survey shows users of remote deposit capture overwhelmingly say the benefits of the service far outweigh its risks and costs. Other recent surveys by RemoteDepositCapture.com, a news and information clearinghouse, reveal the cost benefits users assign to the service and show that many users take weeks to destroy …