Positive Pay is a highly effective tool in detecting forged, counterfeit, and duplicate checks
BOCA RATON, FL (PRWEB) September 15, 2016
Laser Substrates, Inc. has announced the integration of FREE Positive Pay with Payee Verification into its check-printing software, TransForm64. This software combination is now available for banks and other financial institutions to distribute to their smaller-to-medium-sized business clients, who may have been discouraged from using Positive Pay in the past due to cost factors. Positive Pay software is a comprehensive check fraud prevention system that benefits both banks and business organizations. TransForm64 works with all Windows based accounting software including all versions of QuickBooks.
“Offered by most banks today, Positive Pay is a highly effective tool in detecting forged, counterfeit, and duplicate checks,” said Laser Substrates’ Chief Operating Manager, Mark Nelson. “But the high monthly cost of the software has made it inaccessible to many smaller businesses. Now, through TransForm64, banks can offer Positive Pay to their business clients free of charge. This is an attractive incentive to help them acquire new clients who are concerned with preventing check fraud. For the bank’s part, Positive Pay is a robust and reliable profit center due to the fees it generates. It’s a classic win-win scenario.”
Positive Pay assures that any check presented for payment matches a file uploaded to the bank, making any duplicates, discrepancies, or alterations immediately detectible. In the past, Positive Pay software has required import or data keying to create the upload file. TransForm64, by contrast, utilizes its patented technology to transparently create the file when checks are being printed. The software can even send the file automatically after the check run, or at a later predetermined time. Positive Pay requires no human intervention on the bank’s behalf since most software used by banks today automatically notifies the payer of all check exceptions.
TransForm64 with Positive Pay is available in a privately labeled version for financial institutions that request it. Laser Substrates can even design and manage a branded download site, which can also serve as a new-client acquisition channel for the bank.
“For banks, attracting new clients becomes much easier if those new clients don’t have to buy expensive software and add-ons,” Nelson said. “TransForm64 gives financial institutions a decided advantage when it comes to gaining—and retaining—business clients. In a highly competitive banking industry, this kind of edge cannot be underestimated.”
TransForm64 with free Positive Pay is entirely web based, and no client information is ever retained by LaserSubstrates, Inc. The cloud based system is always up to date with changes instituted by all tax authorities; Federal, State, and Local. Those interested in learning more should visit: http://www.transform64.com.
About Laser Substrates, Inc.
Laser Substrates, Inc. is a high-tech business communications developer, combining the benefits of the latest computer capabilities with the need for hard-copy documents. The company manufactures all of its proprietary business forms in its modern plant in Boca Raton, Florida. For the last 53 years, Laser Substrates has been the market leader in developing more efficient and more convenient products to improve office procedures.
Mark Nelson, Director of Operations
Laser Substrates, Inc.