Rototype International has unveiled a system that can dispense cashier's checks 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 check via a smartphone.
After ordering the check, the system sends a quick-response (QR) code to the customer's smartphone that lets the payee verify the check'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," Harris 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.