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CheckFree and Unisys Announce Certification of ARC Check Conversion Solution

Thursday 15 January 2004 22:51 CET | News

CheckFree and Unisys have announced an agreement to certify CheckFrees PEP+ reACH solution for users of Unisys Remittance Processing Solution (RPS) desiring to implement an ARC Check Conversion.By implementing an Accounts Receivable check conversion solution built upon CheckFrees PEP+ reACH, customers of Unisys RPS system will have a comprehensive check conversion solution. The basis for this solution is built on the concept that certain processes are remittance processing in nature while recognizing that once checks are converted, the payments are processed as Automated Clearing House (ACH) items and are best managed within ACH processes and systems. PEP+ reACH, CheckFrees solution for ARC check conversion, integrates with the existing remittance processes without requiring major changes to the operations flow and systems. As items are processed, PEP+ reACH interacts with remittance systems to determine whether a specific item can be converted. Once the remittance items have been captured and processed, a file of convertible items as designated during the RPS run is forwarded to the bank sponsoring the conversion of these checks. PEP+ reACH then takes the data from the check, parses the MICR data, repairs any routing data necessary for ACH and converts the item to ACH. From that point, existing ACH processes are followed for origination, settlement and exception handling of the converted checks.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce