This spring
Wausau Financial Systems Inc. is going to launch a version of its
WebDDL remote-deposit capture product specially designed for use by independent
sales organizations (
ISOs) to let
merchants turn paper checks into images they can transmit electronically to their
banks. By the moment about five ISOs said they will
work with
Wausau, and three will be
processing remote-capture
transactions by April when the
company presents its product.
With the new product resellers can earn revenue from both transaction fees and scanner leases, says Mary Winingham, vice president for merchant services. The business may seem less profitable as remote capture is typically priced on a flat per-transaction basis, rather than on a percentage as with credit and debit cards. But Winingham notes that it also can carry monthly charges that make it more lucrative for resellers.
Remote capture allows merchants use scanners to convert paper checks into electronic images, and then use special software to send the images to their banks for processing through the image-exchange networks. The product is said to be “bank-agnostic” rather than suited to a specific institution, as the current product is.
The company presents its product at a major national trade show for ISOs in Las Vegas. Besides, Winingham plans to demonstrate Wausau’s remote capture service tailored for ISOs at regional shows as well as at the Electronic Transactions Association national conference. She will also be working with Epson, a maker of check scanners, to give lunches in locations around the country to which small groups of ISOs will be invited to hear how remote capture works and see demonstrations of the product.
Source: Digital Transactions
