A leading Edge Payment Processing System, it uses Advanced Imaging Technology, Forms Recognition and OCR/ICR techniques to process payments effortlessly, making traditional manual payment processing a thing of past.

Pay Loc Pro empowers you to face the challenges of the new economy. It helps you cut down cost, saves valuable time, reduces manpower and boosts the productivity of your organization. It can be effectively used in banks, financial institutions and other payment processing centers.

Pay Loc Pro is available in two different versions:

For Banks, Pay Loc Pro is designed to fully automate the process of payment collection for both retail as well as trade finance.

For Companies, Pay Loc Pro automates the process of invoice processing and payment collection. This version of Pay Loc Pro is integrated with invoice processing using the techniques of Form recognition and auto extracting the information from Invoices. Invoice processing is integrated with cheque processing. Pay loc pro is designed to interface with existing account packages.

Lockbox Solution for Banking:

It is designed to process payment collection using Image based Automatic Processing employing the ICR for recognition of handwritten numerals and OCR for recognition of machine printed characters.

Basic Features:

• Independent of hardware used for scanning and encoding.
• Eliminates the need to use standard formats for stubs and deposit slips.
• Reduces physical handling of stubs and cheques.
• State-of-the-art Form recognition enables validated transaction processing.
• Speeds up mid to large volume payment processing using OCR/ICR. Automated Character Recognition helps reduce key-in-time.
• Scanned documents undergoes multiple levels of detailed checks to validate its authenticity
• Controls access to various stages in payment processing ensuring that the whole process is tamper proof and secure.
• Generates detailed reports and gives a snapshot of payment process
• Acts as electronic storage medium and the physical documents making retrieval of payment details for any given date at the touch of a button.

Lock Box ‘Solution for Invoice Processing’

For large companies, Pay Loc pro is designed to process invoices and automate the payment collection using Image Based Automate Processing employing the ICR for recognition of handwritten numerals and OCR for recognition of machine printed characters.

Basic Features:

• Independent of hardware used for scanning
• Designed for both distributed and centralized operations
• Extracts information from invoices eliminating the need to key enter critical data
• Can be interfaced with existing accounts or payment processing systems
• Support multi page invoices and regrouping of data.
• In built page totaling with cross-reference and validation.
• Process single line and multiline invoices accurately.
• Scanned documents undergo multiple levels of detailed checks to validate its authenticity.
• Acts as electronic storage medium of the physical documents making retrieval of payment for any given date at the touch of a button.