Automated fraud detection tool now integrated into MDS
For Immediate Release TSH Releases Positive Pay Module for MDS ERP Software Clifton, NJ. The Systems House, Inc. A leading software provider for the Distribution Industry has announced the current release now incorporates Bank Positive Pay options. What is Positive Pay? Positive Pay is an automated fraud detection tool offered by the Cash Management Department of most banks. In its simplest form, it is a service that matches the account number, check number and dollar amount of each check presented for payment against a list of checks previously authorized and issued by the company. All three components of the check must match exactly or it will not pay. MDS Allows for Positive Pay in three Ways: • File Creation Each bank has its own unique file format which MDS has built in templates for. • File Transmittal MDS will create the file and allow you to transmit the file via email, web upload or FTP • Research The MDS Detail Check Inquiry will allow you to see...