Positive Pay helps companies with automated cash management, reducing the risk of check fraud and increasing profitability from returned or canceled checks. Positive Pay is both a powerful tool to detect and resolve potentially fraudulent activities quickly, as well as pre-emptively monitor check activity from the start for anomalous events that may indicate future fraudulent accounts. From the description, Positive Pay can be considered an additional feature of automated cash management. It is a key benefit though as it ensures that financial institutions have sufficient cash balances within their core deposit accounts. More than just an anti-fraud tool, Positive Pay helps speed up reconciliation and reduce the chances of duplicate payments by providing real-time knowledge of the cash flow from bank to bank. Achieve greater control, security, and automation over cash management with POS system. Using POS system’s ‘Positive Pay’ feature, you will be able to manage your cash effectively as you can identify the notes and the number of them registered in your POS system regardless of their denominations. It has an improved registration capability and synchronization feature which enables you to register all the notes at once.
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