TEMPE, Ariz. Vital Processing Services, the merchant-acquirer and payment processor, on Tuesday announced the launch of its POS Check Service, a product that converts paper checks to electronic transactions at the point of sale.
The product automatically transfers the checks amount from the consumers checking account to the merchants bank account. Like credit and debit card systems, POS Check Service provides direct access to consumer demand deposit accounts or third-party risk management databases for check authorizations.
Vitals POS Check Service delivers acquirers and merchants a flexible payment solution that will streamline the check-handling process in a simple, integrated and secure way, said Denise Lewis, the companys executive vice president of products and marketing.
Four of Vitals largest acquiring clients now use the product, and several others are installing it, she said. We are witnessing market demand for a product that adds tremendous value to each party in the acquiring and merchant value chain.
