Epson has announced that its TM-S1000 cheque scanner has been certified by ProgressSoft, the leading provider of real-time payment solutions, for use within Qatar’s banking industry. The certification confirms that Epson TM-S1000 will function flawlessly with “PS-ECC Version 4 Onwards”, an electronic image-based cheque clearing solution designed to provide end-to-end nationwide clearing of cheques within the same day.
The Epson TM-S1000 cheque scanner, which has already been certified by ProgressSoft for use by the banking industry in Bahrain and Jordan, specifically addresses the requirements of banks and companies that want to capture cheques using back-office capture (BOC), remote deposit capture (RDC) or a combination of the two. With its unique MICR recognition algorithm the TM-S1000 achieves an accuracy rate of at least 99.9 percent, one of the highest MICR read accuracy rates among desktop scanners available today. The Epson cheque scanner, which comes in both a 30 DPM and 60 DPM versions, features a double cheque detector that virtually eliminates double cheque feeding.
The cheque scanner has a MCBF (Mean Cycles Between Failures) of 2.47 million documents, making it a highly reliable product with two pocket support to give users the flexibility to process and segregate different types of documents such as cheques and payment coupons. It also has a 100-sheet document feeder that allows high-volume processing, and advanced self-diagnostics that keep the operator informed of the scanner status and clear error messages.
Khalil El-Dalu, General Manager, Epson Middle East, said: “We are confident that Qatar’s banking community will benefit greatly from the powerful features and versatility of the Epson TM-S1000 cheque scanner, which can be easily integrated into existing infrastructure. The ProgressSoft certification is therefore an important milestone that empowers banks in Qatar to drive productivity and provide efficient and secure services to clients. Moreover, the certification sustains our expansion drive across key markets in the Middle East.”
ProgressSoft provides solutions in the fields of Electronic Check Clearing, Mobile Payment, Automated Clearing House, Intelligent Signature Recognition and Real-time Settlement for Securities Trading. The company introduced the first Electronic Image-based Check Clearing Solution, PS-ECC that provides the means to electronically transfer cheque images and completely replaces traditional physical routines of moving paper-cheques between the banks and clearing houses. The solution has been successfully implemented on a nationwide level in 7 countries and is currently running live in more than 350 banks and central banks around the globe.