|
The banking world is seeing a meaningful reduction in check volume.
The VISA and Master Card settlements with the merchants is dramatically reducing check usage in supermarkets in favor of PIN based debit cards.
ACH origination is becoming more common among all types of recurring billers. The MICR Automation Internet System allows community banks to offer this service to their customers conveniently and profitably.
Online bill paying is widely available and being pushed by several large aggressive banks. Electronic bill presentment and website payment is growing rapidly. While this may not bring on the checkless society that has been prophesied since the 1960's, it will definitely bring on a less-check society.
A new generation of consumers and managers, who became computer literate as children, is driving the move to ACH, electronic presentment, and online payment.
The current business cycle expansion will be characterized by massive moves to broadband by all elements of society. The increasing expense of the postal system, and its vulnerability to disruption, will speed this move.
The MICR Automation System provides complete support for electronic check image presentment and acceptance.
MICR Automation has positioned its systems to handle this broadband world. Everything is focused on electronic availability and delivery of check images.
|
|
