Kwik Trip Inc. Rolls Out Electronic Check Conversion Solution
MINNEAPOLIS -- Kwik Trip Inc. completed its rollout of SPIN, Solutran Inc.'s POS and Imaging Network solution for electronic check conversion, the company reported. Following the SPIN implementation, Kwik Trip reported lower depository fees, faster funds availability, and access to original check images for research.
"Solutran led the project," said Angela Newman, NSF Collections manager of Kwik Trip. "They worked closely with our IT group, assisting them with questions and defining the technical specifications. It was easy to implement in the store because minimal changes were needed."
Used in more than 12,500 retail locations, SPIN can be implemented without up-front capital expenditures. Unlike traditional BOC (Back Office Conversion), the check imaging, archiving and destruction services are outsourced to Solutran -- and MICR data capture uses existing infrastructure, according to the vendor.
"We're pleased Kwik Trip is already experiencing the benefits of SPIN technology," Barry Nordstrand, Solutran Chief Executive Officer said in a released statement. "SPIN has saved a variety of retail businesses more than 50 percent in check processing fees. It provides an ideal solution for retailers looking for cost-reduction and easy implementation without sacrificing accuracy and efficiency."