The Green Sheet Online Edition
July 26, 2010 • Issue 10:07:02
RDC on the fly
Remote deposit capture (RDC) has proven a strong remedy for the hassles that sometimes accompany the back-end process behind check acceptance. A product from Bluepoint Solutions is designed to also bring some convenience to the front-end.
QwikDeposit To Go is an RDC solution for mobile phones. Wherever they may be, merchants using QwikDeposit can accept a check payment and send it off to the bank for processing on the spot.
The solution is slated to be available with the iPhone, Blackberry and Android, and is scheduled for roll out within the next couple months, according to Andrew Tilbury, Director of Marketing and Communications for Bluepoint.
"Let's say you're an independent contractor travelling on business ... you might not have the time or flexibility to make it to a branch or ATM of your financial institution to make a deposit," Tilbury said. "You get a bunch of checks in and don't want to wait for the snail mail to go through; you can just use your [smart phone]."
Users of QwikDeposit download the program onto camera-equipped smart phones. Users then register the software with their banks, after which they can access one or more accounts using a username and password - without having to re-enter their bank account information.
For check acceptance, the merchant logs into the program, snaps photographs of the front and back of a check, punches in the dollar amount and clicks a button to send it off for processing. A message of confirmation or rejection appears within seconds of finalizing the payment.
Tilbury said the software contains an image enhancement piece that smoothes out the picture of a check, both sharpening the image and eliminating blemishes like ink blotches or wrinkles.
"The deposit process is you check in, it pulls the account information and displays it on your phone," Tilbury said. "So if you have multiple accounts you can determine which account you want to deposit in.
"You enter the check amount, then photograph the front and back, and then the software does all the image quality verification and perfection, so exposure, coloring, wrinkles, ripped edges - all that cropping happens before you begin item processing.
"The device guarantees a high level of quality to the image, and you have to start with a good image to detect fraud," Tilbury added.
There are two payment options for QwikDeposit. Users who want a proprietary solution can buy the license to run the program in-house; otherwise, clients can pay a monthly fee to essentially lease the software, which is then operated from BluePoint's server. The second option is primarily targeted to small to mid-sized businesses that wish to pay a lower upfront cost, Tilbury said.
Integrated and stand-alone options
There are also two versions of the software itself. One is a stand-alone check acceptance program; the other integrates with a business's mobile banking channel, allowing the user to move seamlessly between accepting checks and transferring money or viewing payment acceptance history, according to Tilbury.
He added that integration can be particularly useful in the mobile market, where online banking isn't always accessible through an Internet browser.
"The integrated version works the same way as [the stand-alone software], but in the same area where you accept check payments you can transfer funds, make payments, check balances and make deposits.
"The point at which it's attractive to have an integrated solution is you don't need an additional application for online banking. You can add this functionality to the existing application and see your deposits right there."
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