Back Office Conversion
Back Office Conversion converts paper checks to electronic checks to reduce labor, bank charges and bad check losses. The system will also give the retailer availability of funds up to 2 days quicker than standard deposit techniques.
- Checks are easily and automatically converted each day in your store office to electronic checks.
- The check file is read in automatically from the POS and married to an image file, which you create in your back office from the physical checks. This does not just verify counts and amounts; it enables you to review on screen each check for correct values and provides edit capability so the file is correct, when you transmit it.
- Processed checks are deposited into the retailer’s account each day typically giving the retailer availability of funds the next day.
- Midax has worked with our business partner, CybrCollect, to create this leading edge application and process. Working together we have created an application called Transfusion, a unique integrated BOC solution.
- Declined checks are automatically handled by the system, bad check databases are updated and checks are sent for collection without retailer intervention.
- The system is in compliance with all the new rules and regulations regarding check conversion and processing.
- Midax Back Office Conversion works with all POS systems and converts the checks without slowing down the cashiers.
Video available: Tranfusion Online Demo
