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ELECTRONIC CONVERSION

Electronic Conversion is the most recent technological breakthrough in processing personal checks. This service allows merchants to convert the customers' checks into an electronic format and bypass the bank. The advantages are:

• Faster availability of funds. Funds will be available within 24-48 hours.
• No more preparing and depositing the check into bank account.
• Greater cash flow.
• Eliminates the need for check guarantee for those businesses that release their products and/or services within a few days after the processing the checks. A few examples are auto dealers, furniture stores, some COD shipments, etc.
• Savings on labor.
• Eliminate human error in processing and tallying checks at the point of sale.
• Simplifying calculations.
• Streamlining accounting operations.
• Eliminate paperwork.

Special News: RDM Check Imager allows the image of the checks to be scanned into the check reader. This function is extremely important to many larger merchants who have been encountering greater fraud rates. Check images are sent to a main server only upon batching and not at the time of the transactions. This feature allows for a normal transaction speed, so there will be no delay at the check-out lanes.

Electronic Conversion may be used in conjunction with Check Guarantee for either Point-of-Sale or Post-Sale transactions.

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