Source: American Banker
by BRIAN BROWDIE
JUN 11, 2013 - Rototype International has unveiled a system that can dispense cashier’s cheque on demand.
The Hong Kong-based technology company said Tuesday that its CJD 8000 Cashier’s Check machine lets financial institution customers purchase a cashier’s cheque via a smartphone.
After ordering the cheque, the system sends a quick-response (QR) code to the customer’s smartphone that lets the payee verify the cheque's authenticity. The payee can present the code at Rototype’s machine, which will dispense a cashier’s check instantly.
The system, which also lets customers wire cashier’s checks to others and purchase cashier’s checks using a debit card, can cut customer wait times, generate fees, reduce fraud and free branch personnel for other tasks,according to the company.
“Our unique security feature ensures all check content [is]printed on demand, including security control elements such as (character recognition) code and encrypted digital signature that are issued by the bank’s host computers in real time,” Harres Tan, chief executive of Rototype America,said in a news release.
The machine is said to accommodate Europay, Mastercard and Visa,or EMV, standard and satisfy the requirements of the Americans with Disabilities Act.