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Wednesday, November 11, 2009
(RDM Corporation)
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WATERLOO, ON, – RDM Corporation, a leading developer of specialized software and hardware products for electronic payment processing, announced November 9th that it has introduced new functionality in its ITMS WebClient and Simply Deposit products that allows users to proactively decide whether to re-present a returned check. This feature enables business users to review returned checks and determine whether to risk a second returned check fee and lets them select the timing for that re-presentment.
RDM is a leader in the Remote Deposit Capture Industry, and approximately 1-2% of all checks presented for payment to a bank are returned, generally due to non-sufficient funds in the account. The check recipient may then be forced to take the uncomfortable and time-consuming step of contacting the check writer to arrange for alternative payment. RDM’s intelligent check re-presentment capability offers users the convenience of re-submitting the check electronically at a time of their own choosing. For example, they may choose to wait until “payday” to increase their chances of collecting. They may also elect not to re-present a small check whose face value is less than the potential bank charge that may be incurred.
“The intelligent re-presentment feature is a fantastic new tool for our customers,” said Douglas Newman, President and Chief Executive Officer RDM Corporation. “This functionality should appeal to users for the same reasons they chose remote deposit capture in the first place – convenience, speed and lower check processing costs.”
The intelligent re-presentment feature is included as a standard module in RDM’s suite of RDC products. RDM offers a full suite of remote deposit capture products and services designed to save end users the time and transportation expenses associated with physically depositing checks at the bank and provide them faster availability of funds.
About RDM Corporation
RDM Corporation is headquartered in Waterloo, Ontario and trades on the Toronto Stock Exchange under the symbol RC. RDM is a leading provider of specialized software and hardware products for electronic payment processing. RDM has pioneered electronic check conversion systems and web based image and transaction management services for banks, retailers, payment processors and government agencies as well as print quality control and image quality systems for a variety of global customers. For further information, visit RDM’s website at www.rdmcorp.com.
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