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Payment processing has dramatically
changed in the last few years. The number of paper cheques
continues to decline in developed countries like US,
while in many developing countries the cheque volumes
are rising but with increasing labour/infrastructure
cost. Either of these are resulting in rise in per item
costs on existing paper-based cheque processing systems.
The Check 21 Act in the US or its equivalent Cheque Truncation Systems in EMEA and Asia Pacific countries, may be seen as the tipping point, ushering in a profound change in payment processing. Customers will have new products and banking relationships to choose from. Banks will deal with the revenue impact from reductions in cheque float, while enjoying reduced transportation costs and process improvement that will result from combining cheque image and image exchange in existing workflows. Forward-thinking institutions will take advantage of new revenue opportunities that come as cutoff times are extended and opportunities to expand their footprint are presented.
We are entering an "any to any" world of transaction processing. Any payment type, from any location, to any destination, in any format. And J&B Software is ready to take you there.
Click on the links to your left to learn more about our Payment and Receivables Management solutions as part of our EPSi framework.
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