The ATM and cash access company Automated Systems America Inc. (ASAI) announced the launch of its latest Check Cashing platform, which is specially developed for the needs of the casino industry. The main purpose of the new product is to enhance payment processing, offering easy withdrawal and deposit experience to the players.
The recently launched platform is a product developed by the joint work between ASAI and the global payment technology solutions company First Data. The platform features First Data’s check cashing database combined with ASAI’s experience in developing software products, which are successfully incorporated in the casino industry.
The Check Cashing platform offers various advantages to its users including 48-hour Automated Clearing House (ACH) solution, 6-day limit establishment and others. What is more is that the platform allows the registering of users at VIP levels, offering them higher transaction limits. The platform utilizes ASAI’s Live Cage and CashStream software, which allows casinos to use one POS terminal to process both Cash Advance and Check Cashing transactions.
The new cashing platform offers immediate and secure money withdrawals and deposits, which perfectly fits the needs of the rapidly growing casino industry. The cash access platform also provides great convenience to its users as it saves time and efforts. This is not the first similar project launched by the two companies, as they have already introduced three initial check cashing installations at California’s Pala Casino Spa and Resort, Konocti Vista Casino and Texas’ Naskila Gaming.
How the Check Cashing Platform Works?
Usually, to cash out a check at a bank or any other financial institution requires some time until the money is transferred from one account to the other. But the check cashing platform allows users to be immediately paid the full amount of the check in exchange for a certain service fee. The system is based on verification and approval of the validity of the check.
After the checking account is validated, the customer can receive the amount of the check straight away. After that, the check-cashing business compensates itself for the cash it gave by depositing the amount of the check in its bank account. The role of the check cashing platform is to facilitate the entire process and adapt it for the casino needs.
In addition, the platform utilizes powerful anti-fraud tools, so that the users can be sure that their best interests are protected in any way. The platform is designed in a manner, which is fully compliant with the U.S. legal framework.
The right deployment of innovative payment methods and solutions opens the potential to significantly improve the casino industry not only locally, but also globally. The Check Cashing platform will enhance players’ deposit and withdrawal experience.