Verifone Inc., Redwood City, Calif., has introduced Omnicheck, a compact device designed to automate check authorization at the point of sale.
The function enables merchants to accelerate customer checkout time, reduce check handling costs and losses due to fraud, and eliminate errors associated with manual entry of check data.
Using magnetic ink character recognition technology, Omnicheck accurately reads virtually any check and transmits the MICR data electronically to the merchant's check-authorization service.
Omnicheck can detect fraudulent documents such as photocopied checks and checks with altered MICR lines.
The device supports the two most commonly used MICR fonts -- E14B and CMC7 -- making it well-suited for applications worldwide.
Omnicheck is priced from $175 to $230 per unit, depending on quantity.