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Cool, I agree that checks are terrible, but I still get more customers paying by check than any other method :) Regarding item 1: Just curious- Do you mean Mit
by ensignavenger 12y ago
Cool, I agree that checks are terrible, but I still get more customers paying by check than any other method :)
Regarding item 1: Just curious- Do you mean Mitek and/or USAA have a patent on the process? Or do they own the only technology approved for some back-end process by the Federal Reserve?
- btmerr 12y agoThey own or co-own the patent(s). Last I checked they were still battling it out in court. The relevant legislation that enabled Remote Deposit Capture (RDC) is the Check21 act, which you can learn about here: http://www.federalreserve.gov/paymentsystems/regcc-faq-check21.htm http://www.federalreserve.gov/paymentsystems/regcc-faq-check... In theory, anyone can build a system to deposit checks via check images, but software/process patents are a (mostly bad) thing. :(