Remittance Processing Retail Using Coupons
All My Papers has a suite of products that provide a solution for Remittance Processing.
Now, process checks, payment coupons and remittance documents with one pass scanning using any scanner at a low fixed cost. With the All My Coupons option, you can now have fast and accurate check and payment coupon detection, reading and extraction with reasonable licensing costs.
Lockbox service providers (both wholesale and retail) also have a problem in which payments are not only sent to the lockbox address but delivered to field branches or even misdirected to corporate addresses. These payments are defined as “stranded payments” and before affordable RDC, they had to be physically redelivered to the central lockbox processing center. Now with RDC these stranded payments can be captured remotely and sent electronically to be processed at the lockbox centers. Any associated non-check documents can be scanned and sent as well. This speeds up the collection process for these items while reducing transportation and remote handling expenses.
All My Checks with All My Coupons Features
- Scan all documents once (no need for separate check scanner
- Remittance coupons
- Automatically find and extract check images from scan
- Automatically find and read remittance coupon information using barcodes to identify:
- Customer account number
- Payment due amount
- Automatically prepare front and back check images for remote deposit
- Automatically extract MICR information from check images to obtain bank routing numbers, account numbers and and check serial numbers
- Create X9/ICL files for electronic remote deposit Format ICL files for over 50 financial institutions
- Verify coupon information with optional X9 VIEWER
- Use virtually any document scanner for both checks and payment coupons One software application for multiple bank remote deposit destinations.
New Process With ALL My Checks and All My Coupons
Now scan checks and coupons on any document scanner just one time. Run the All My Coupons software option.
Verify correct dollar amount with optional X9 VIEWER software
Remittance coupons are often used by payment processors to link a received check with a particular account or invoice. If your application requires this, the AmpLIB MICR OCR SDK can read the barcodes commonly used on remittance coupons for account encoding.
Typical Remittance Coupon
Contact All My Papers
Contact All My Papers to automate Check Image Cash letter (ICL) file processing.