Qatari banks able to use TM-S1000 for same-day clearing of cheques

30 October 2012 - Epson has announced that its TM-S1000 cheque scanner has been certified by ProgressSoft, the leading provider of real-time payment solutions, for use within Qatar's banking industry. The certification confirms that Epson TM-S1000 will function flawlessly with "PS-ECC Version 4 Onwards", an electronic image-based cheque clearing solution designed to provide end-to-end nationwide clearing of cheques within the same day.

The Epson TM-S1000 cheque scanner, which has already been certified by ProgressSoft for use by the banking industry in Bahrain and Jordan, specifically addresses the requirements of banks and companies that want to capture cheques using back-office capture (BOC), remote deposit capture (RDC) or a combination of the two. With its unique MICR recognition algorithm the TM-S1000 achieves an accuracy rate of at least 99.9 percent, one of the highest MICR read accuracy rates among desktop scanners available today. The Epson cheque scanner, which comes in both a 30 DPM and 60 DPM versions, features a double cheque detector that virtually eliminates double cheque feeding.

The cheque scanner has a MCBF (Mean Cycles Between Failures) of 2.47 million documents, making it a highly reliable product with two pocket support to give users the flexibility to process and segregate different types of documents such as cheques and payment coupons. It also has a 100-sheet document feeder that allows high-volume processing, and advanced self-diagnostics that keep the operator informed of the scanner status and clear error messages.

Khalil El-Dalu, General Manager, Epson Middle East, said: "We are confident that Qatar's banking community will benefit greatly from the powerful features and versatility of the Epson TM-S1000 cheque scanner, which can be easily integrated into existing infrastructure. The ProgressSoft certification is therefore an important milestone that empowers banks in Qatar to drive productivity and provide efficient and secure services to clients. Moreover, the certification sustains our expansion drive across key markets in the Middle East."

ProgressSoft provides solutions in the fields of Electronic Check Clearing, Mobile Payment, Automated Clearing House, Intelligent Signature Recognition and Real-time Settlement for Securities Trading. The company introduced the first Electronic Image-based Check Clearing Solution, PS-ECC that provides the means to electronically transfer cheque images and completely replaces traditional physical routines of moving paper-cheques between the banks and clearing houses. The solution has been successfully implemented on a nationwide level in 7 countries and is currently running live in more than 350 banks and central banks around the globe.

-Ends-

About Epson
Epson is a global imaging and innovation leader that is dedicated to exceeding the vision of customers worldwide through its compact, energy-saving, high-precision technologies, with a product line-up ranging from printers and 3LCD projectors for business and the home, to electronic and crystal devices.

Led by the Japan-based Seiko Epson Corporation, the Epson Group comprises more than 75,000 employees in 97 companies around the world, and is proud of its ongoing contributions to the global environment and the communities in which it operates. http://global.epson.com

About Epson Europe
Epson Europe B.V., based in Amsterdam, is the Group's regional headquarters for Europe,

Middle-East, Russia, and Africa. With a workforce of 1,594 employees, Epson Europe's sales for fiscal year 2010 were 1,583 million Euros. http://www.epson-europe.com

About Epson Middle East
Epson Middle East oversees Epson's operations in the Middle East markets, in close coordination with Epson Europe. Headquartered in Dubai, United Arab Emirates, Epson Middle East works closely with a network of resellers and distributors across Bahrain, Egypt, Iran, Jordan, Kuwait, Lebanon, Libya, Oman, Qatar, Syria and Yemen, ensuring the availability of its wide, technologically-advanced product range to businesses and consumers in the region. Epson Middle East has also recently opened an office in the Kingdom of Saudi Arabia, in line with its plans to consolidate its market presence. http://www.epson.eu/int/en

Environmental Vision 2050  
http://eco.epson.com/

For more information, please contact:
Orient Planet PR & Marketing Communications
P.O. Box 23345, Dubai UAE
Tel: +971 4 3988901
Fax: +971 4 3988941
Email: media@orientplanet.com
Website: www.orientplanet.com    

© Press Release 2012