Hy-Vee will use ImageMark technology to collect check pictures and data at each retail store’s back office. Then, Hy-Vee will transfer a balanced deposit to the corporate office via a secure Internet connection. Then, BOC criteria will be applied to assess eligibility and convert qualifying transactions to an ACH file for processing.
Does Hy-Vee Use TeleCheck?
No Hy-Vee, do not use TeleCheck. Instead, Hy-Vee uses the ImageMark System to deposit checks.
It was clear that Hy-Vee, with 220 stores in seven states in the Midwest, was large enough to manage its electronic payment systems for the internal authorization and processing of check, credit/debit/EBT, and gift card transactions. There was a need for a software solution to help the organization be far more responsive to its business demands by addressing its current needs and permitting expansion for future industry developments. Hy-Vee selected the ACI Omni-Commerce system for a variety of offers. Retailers like Hy-Vee can now minimize transaction costs and exert more control over their business relationships using ACI Omni-comprehensive Commerce’s retail software solution.
Customers’ payments are securely transferred and routed through the solution, which is fast, easy, and cost-effective. A wide range of options are available for payment methods, including credit, debit, check, phone, fleet, automated clearing house (ACH), electronic funds transfer (EFT), and even biometrics. Additionally, ACI Omni-Commerce supports electronic benefit transfer (EBT) systems, such as the Food Stamp and Supplemental Nutrition Assistance Program (SNAP).
After leaving Wells Fargo Bank in 2014, Daniel began a career as a finance consultant, advising companies and individuals on economic policy, labor relations, and financial management.
At Promtfinance.com, Daniel writes about personal finance topics, value estimation, budgeting strategies, retirement planning, and portfolio diversification.
Read more on Daniel Smith's biography page.
Contact Daniel: daniel@promtfinance.com