RSS Feed
Twitter
11:51 PM
Unknown
What is Positive Pay?
Positive Pay is an optional security module to inFORM Decisions’ iChecks laser check printing software. It enables to capture pertinent information which then is saved into Cash Handling File.
The data from the Automated Cash Handling File, formats the header, trailer and bank information are collected by an AS/400(iSeries) auto-job during a pre-set and automated time. Then the auto-job runs a calculation of totals and transmits this report via the AS/400(iSeries) ECS modem to the pre-selected bank. For this reason, only the bank accesses those checks included on the Positive Pay Report.
According to Dan Forster, President of inFORM Decisions, “this Positive Pay Report in correlation with the bank’s record statement raises the security bar for bad guys attempting to pass fraudulent checks. By implementing this powerful security module a company is offloading accountability and responsibility of check fraud to their bank! If for any reason the bank cashes a check that was not on the report, the bank is liable.”
Contact inFORM Decisions at to get further information on electronic form and check printing systems.
Source: inFORM Decisions
Posted in 
.jpg)
