Payment processing specialist Retail Decisions is to implement Mitek System software to provide enhanced check processing capabilities and extended offerings.
Retail Decisions (ReD) has signed an agreement with Mitek Systems , an image analytics software provider, to incorporate its QuickStrokes and QuickFX recognition software into its latest product, ReD eCheck.
ReD eCheck is a complete check imaging solution for merchants. With the embedded Mitek technology, ReD says it can provide merchants with the capability to capture and electronically transport check images to their bank from remote locations, resulting in improved funds availability and lower paper check handling costs.
The ReD eCheck solution combines electronic check processing software and conversion hardware in a single platform to perform Point-Of-Purchase (POP) and Accounts Receivable Conversion (ARC) transactions.
Mitek’s Check 21 distributed recognition software assesses the readability of the image, corrects for poor image quality, and automatically recognizes critical information on the image to accelerate conversion into electronic data used to complete an ACH transaction. ReD eCheck can also be enabled with Mitek’s FraudProtect software to verify the authenticity of the processed checks and prevent identity theft.
Xavier Kris, chief executive of Retail Decisions, said, Mitek offers a sophisticated and complete set of software for capturing, authenticating, and using data from check images at the point-of-presentment. ReD is pleased to have partnered with Mitek to offer a complete Merchant Check Processing solution.