Payment Processing

The Payment Processing module of Clearingworks Payments delivers new operational efficiencies to remittance and lockbox processors by eliminating the traditional encode pass and paper cash letter deposits. The solution creates electronic deposits using ACH and Check 21, providing users with a complete solution for payments electronification, speeding processing, slashing costs, and increasing accuracy. Leveraging open systems interfaces, industry standards, platform-independent Java technologies, and interfaces to low and high-speed capture devices, Clearingworks Payments co-exists with any legacy system or process, including conventional check processing, and WEB, TEL, PPD, etc.

Clearingworks Payments also features our state-of-the-art Real-time Web Enablement and Express Batching capabilities. Real-time Web Enablement revolutionizes the payments processing paradigm by enabling secure Web-based payments capture, retrieval and repair, anywhere, at any time. For instance, customers can determine where items are keyed for repair, providing load balancing, disaster recovery, and potentially lower labor costs.

And Clearingworks Payments enables processors to capture payments remotely from individual or multiple locations, and consolidate payments data into a central site.

Express Batching processes transactions independent of their physical capture batch, bypassing the inherent inefficiencies of legacy batch processes. Express Batching immediately releases items that have been balanced for clearing through ACH or Check 21, regardless of the state of the batch they were captured. This means more items can get cleared each day in a more timely fashion, taking full advantage of all available clearing options.

Clearingworks delivers additional operational efficiencies through its algorithmic corrections logic. For instance, advanced Orient and Detect functionality, combined with Intelligent Character Recognition, improves payment and statement read rates and automatic balancing.

Why Clearingworks for Payment Processing

• Electronic deposit capabilities eliminates encode pass/paper cash letter deposits "
• Web-based capture, processing, tracking and repair provides new efficiencies
• Express Batching eliminates the bottlenecks of traditional batch processes and speeds items to clearing
• Per-item pricing eliminates hefty upfront license fees
• Web-based architecture provides global co-sourcing/processing relationships
• Algorithmic correction logic streamlines image and data repair