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RDM Teams up with Fiserv for IRD Printing

Tuesday 23 March 2004 10:41 CET | News

RDM Corporation is teaming up with Fiserv, to provide nationwide Image Replacement Document (IRD) printing services for RDMs Image and Transaction Management System (ITMS).
ITMS is a web-based check processing system that facilitates the electronic deposit and settlement of payments received by paper check. It is specifically designed for use by businesses that have many points of remote or distributed collection for payment receipts. ITMS provides financial institutions and billers with a complete payment platform that allows them to take advantage of the efficiencies and cost savings of electronic check conversion (ECC) for both point-of-purchase (POP) and accounts receivable conversion (ARC) payments and positions them for implementing Check 21 at the point of presentment. Fiserv will provide the ITMS platform with a nationwide network of 50 check-processing centers for the printing of IRDs. Fiserv can provide locations that are close to a banks facilities or - for small-dollar checks - locations that offer the lowest costs for bulk printing. In addition to the ability to print standard substitute checks, ITMS will leverage Fiservs Secure Seal technology. Secure Seal, developed by Fiserv and EnSeal Systems Ltd., is a technology that invisibly stores data - such as the payee name and the check amount - within a logo or another location on a check, ensuring the validity of the substitute check. RDM expects that in the future, Fiserv will also provide ITMS customers with a gateway to check image exchange. Through agreements with such organizations as SVPCo and Viewpointe Archive Services, Fiserv can serve as a gateway for image exchange with Americas largest financial institutions. Fiserv can also efficiently handle image exchange with its more than 1,700 check processing clients.

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

Payments & Commerce