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Tuesday, February 06, 2007
(DigitalTransactions.net)
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A new point-of-sale payment option that converts checks to electronic debits, available starting next month, will open the retailer market for remote deposit capture, a leading payments executive says. The new option, called back-office conversion (BOC), allows merchants to scan consumer checks in bulk and process them through the automated clearing house network rather than through image exchange. “BOC will open up the whole retailing community, which has been shut out from Check 21,” predicts Danne L. Buchanan, chief executive at NetDeposit Inc....
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