|
Tuesday, November 28, 2006
(RDM Corporation)
|
|
WATERLOO, ON, Nov. 28 /CNW/ - RDM Corporation, a leading provider of specialized software and hardware products for electronic payment processing, announced today that it has reached a significant milestone by consistently processing over 1 million checks weekly from corporate customers in the United States through its industry leading Image & Transaction Management System (ITMS).
ITMS is a web-based payments processing system that facilitates the electronic deposit and settlement of payments received by paper check. It is specifically designed for use by businesses that have many points of remote or distributed collection for check payments, as well as those who have large central processing centers. ITMS provides billers and financial institutions with a complete payment platform that allows them to take advantage of the efficiencies and cost savings of electronic check conversion (ECC) for point-of-purchase (POP), accounts receivable conversion (ARC) payments, back office conversion (BOC) payments, as well as Check 21 and Image Exchange at the point of presentment.
"This year we have begun to see the acceleration in transaction volumes that we have long believed to be inevitable," said Douglas Newman, President and CEO of RDM Corporation. "Industry observers are very consistent in their expectation that check electronification will become the dominant method of check processing in the U.S. in the coming years. We were very early to market with ITMS and we have continued to lead in features and functionality. This has translated into growth in transaction volume."
Last month, RDM announced the newest addition to the industry leading ITMS solution, the ITMS WebClient. The new WebClient is a secure, feature-rich, browser-based payment processing platform that can be deployed quickly and easily with little to no capital investment with no software to install. The ITMS WebClient is currently installed in one of the largest insurance providers in the United States.