As most people know, innovation is one of Epson's fundamental brand values - in fact, the company is responsible for many milestones in today's technology landscape. And one of the most recent of these milestones is TransScan, an Epson innovation which is being enthusiastically embraced by US retailers as a way of significantly reducing the costs of cheque processing. Coupled with Epson's TM-H6000II thermal receipt printer, TransScan cuts cheque processing time by to 40%, and costs by as much as 30%. So - given that cheques comprise an average of 30% of all retail payments in the US - it's little wonder that Epson's ECC (electronic cheque conversion) solution has met with such a positive reception.

To customers, of course, the cheque represents flexibility and convenience: another payment option to choose from. To retailers, though, it represents extra cost and risk - the combination of handling costs, tied-up funds and the possibility of fraud make paper cheques an expensive choice to offer. Until recently, though, viable alternatives to conventional cheque processing have been thin on the ground.

Designed to comply with Check 21 legislation, TransScan has changed this situation radically. Now, US retailers have access to an extremely cost-effective technology which enables them to take full advantage of ECC at the point of sale. Integrated with Epson's TM-H6000II, TransScan cuts processing time, gives faster access to funds and reduces losses due to returned cheques. And that's not all - other benefits include the ability to centralise cheque processing through a single bank, allowing retailers to negotiate lower rates.

How does it work? Well, it's complicated but Epson has worked hard to make it simple. Compatible with any new or existing PoS system, and requiring no extra equipment such as a separate cheque scanning terminal, the TM-H6000II with TransScan reads MICR code and captures a complete cheque image in a single step, allowing the cheque to be processed electronically, much like a credit card transaction. And the benefits are significant. In-store cheque pickup, deposit preparation and transport are no longer required, for example, while float time is reduced to one to two days (from, typically, five to seven days), making funds available sooner. What's more, the processing time required to identify a fraudulent cheque can be cut from 12 to four business days, and administrative headaches resulting from misread MICR code are reduced.

In short, TransScan and the TM-H6000II are helping US retailers to turn costs into profits - just one more example of how Epson's creative thinking and ground-breaking technology is contributing to business.

more about TM-H6000III

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For further information contact David Ormerod, Epson; tel: 01442 227318 or email dormerod@epson.co.uk