Select Remittance™ captures customer payment information (coupons & checks) for the purpose of automating the posting of accounts receivable information and enabling electronic transmission of check deposits to a financial institution. Select Remittance eliminates the need for manually processing paper payment documents and entering data into back-end systems.
Select Remittance has been designed to address the need for payment processing and the generation of electronic check deposits from individual remote locations. Utilizing a small check scanner, the remote payments module transforms current paper-based payment handling process into an image-based proof and presentment workflow. Our module enables customers to process coupons and checks in a single pass, validate their authenticity and forward the checks electronically to their financial institution for deposit. Customers are able to extract files that can be used to enter payment data into their in-house accounts receivable system.
Cachet Financial Solutions provides a complete payment processing system for financial institutions. The modules provide all the functionality required for merchants to process checks, update their accounting system and submit the file to their financial institution.