Technology Changes Face Of Cheque Printing

Nipson's high-speed production digital presses featuring MIC Ready and offer a fast, cost effective method of integrating Check 21 compliant printing into any printing operation.

Nipson's high-speed production digital presses featuring MIC Ready and offer a fast, cost effective method of integrating Check 21 compliant printing into any printing operation, according to the company.

Check 21 is a federal law replacing paper cheque transfers between banks with electronic transfers.

If a receiving bank requires a paper cheque, the bank must use the electronic image to print a substitute cheque.

The substitute cheque must be printed using magnetic image character recognition (MICR) ink or toner.

The new law, which became effective this month, is expected to create an upsurge in demand for digital MICR printing from cheque processing centres, inplant printers, service bureaux, and commercial printers, anticipates Nipson.

Nipson believes its MIC Ready systems allow printers to integrate MICR print in to standard digital printing without the need to change to more expensive toner, adjust equipment, or change parts.

And at speeds of up to 410 feet per minute, Nipson Varypress can produce a claimed 2,690 cheques per minute, making it the fastest MICR printing system in the world said the company.

In addition to Check 21 markets, Nipson also believes its MIC Ready is suitable for printers looking for a flexible digital product that could serve many markets without the need for lengthy and expensive change overs.

With MIC Ready, Nipson presses are said to be able to produce cheques, cheques within direct mail promotional pieces, as well as insurance forms, bank statements, and other transactional documents.

Printers can also service non-MICR applications without additional cost or loss of productivity.

"MIC Ready offers printers the flexibility needed to answer the demand created by Check 21 as well as other markets for variable data MICR and non-MICR printing," said Alfons Buts, managing director of Nipson Digital Printing Systems.

"Maximising the types of applications one can print while minimising downtime and cost is the formula for success that Nipson delivers to the printing industry today.

MIC Ready is also fully compatible with E13B and CMC7 standards used throughout the world," he added.

Nipson has also obtained APACS (Association for Payment Clearing Services) approval for the technology.

APACS sets the standard for UK cheque printing, which is also used globally.

The approval broadens the scope of applications and geographic areas that MIC Ready can serve said Nipson.

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