The retailer Kohl's Corp. is using a service from Solutran Inc. of Minneapolis to convert customers' checks into automated clearing house transactions.
Kohl's has installed the Solutran Point of Sale and Imaging Network service at all of its 957 stores, the vendor said Tuesday.
The service was developed for large retailers and can help them reduce the fees they pay banks for accepting checks by as much as 70%, Solutran said.
Merchants use Solutran's point of sale systems to capture check data and forward it to the vendor, which processes the payments. The checks are sent later to Solutran's processing site, where an image is created and archived and the paper item is destroyed.
"Retailers are looking for ways to increase operating efficiency," Barry Nordstrand, Solutran's president and chief executive, said in a press release. "We expect significant merchant adoption over the coming quarters."
