Back Office Conversion
PayBack™, Certegy’s new Back Office Conversion Service (also known as Remote Deposit Capture) enables retail merchants to take advantage of electronic check conversion without impacting their point of sale or the customer experience. Checks accepted at the point of sale during business hours are simply converted and reconciled at the end of the day via a high capacity/speed scanning device. PayBack, customized for retailers, creates an image of the front and back of each check, captures the MICR line data, and optically reads the check dollar amount. Once all the checks are scanned and verified as accurate, an electronic file is created and transmitted from the retailer’s site to Certegy® over a secure Internet connection containing the check images, MICR data, and other data needed for settlement. Within 24 to 48 hours, checks are settled and the merchant’s bank account is funded.
By providing a complete “end-to-end” solution from point of presentment (POP; WEB; TEL; ARC/Lockbox) to settlement, Certegy maximizes cash management timeframes and removes any delays in critical updates to the authorization risk management engine regardless of whether the retailer utilizes Certegy’s Enhanced Warranty or a Self-Risk Check Management program.
Back Office Conversion Benefits – A Complete End-to-end Solution
- Reduced cost of check deposits and returns through the elimination of paper check depositing and processing
- Increased cash flow for both deposits and returned check payments
- Reduced armored truck fees
- Consolidated deposit reporting
- Enhanced updates to check risk management files from collection and transactional data
- Guaranteed funds for retailers using check warranty – no returns processing by retailer required
- Intelligent settlement routing of checks based on least cost method maximizing funds availability
- Settlement via image exchange
- Web-based reporting and image retrieval
- Can be used with or without front-end check authorization risk management