Nipson Micready Offers Method For Serving Check 21 Printing Markets
Press release from the issuing company
(Elk Grove Village, IL) October 26, 2004 – Nipson’s high-speed production digital presses featuring MICReady offer a fast, cost effective, and seamless method of integrating Check 21 compliant printing into any printing operation. Check 21 is a federal law replacing paper check transfers between banks with electronic transfers. If a receiving bank requires a paper check, the bank must use the electronic image to print a substitute check. This substitute check must be printed using Magnetic Image Character Recognition (MICR) ink or toner. The new law, effective October 2004, is expected to create an upsurge in demand for digital MICR printing from check processing centers, inplant printers, service bureaus, and commercial printers.
Nipson’s MICReady systems are an ideal solution for Check 21 printing because they allow printers to seamlessly integrate MICR print into standard digital printing without the need to change to more expensive toner, adjust equipment, or change parts. And at speeds of up to 410ft/min, Nipson VaryPress can produce 2690 checks per minute, making it the fastest MICR printing system in the world.
In addition to Check 21 markets, Nipson’s MICReady is ideal for printers looking for a flexible digital solution that can serve many markets without the need for lengthy and expensive changeovers. With MICReady, Nipson presses can produce checks, checks within direct mail promotional pieces, as well as insurance forms, bank statements, and other transactional documents. Printers can also service non-MICR applications without additional cost or loss of productivity.
“MICReady offers printers the flexibility needed to answer the demand created by Check 21 as well as other markets for variable data MICR and non-MICR printing,” said Alfons Buts, managing director of Nipson Digital Printing Systems PLC. “Maximizing the types of applications one can print while minimizing downtime and cost is the formula for success that Nipson delivers to the printing industry today.”
Nipson’s MICReady is also fully compatible with E13B and CMC7 standards used throughout the world. Nipson has also recently obtained APACS (Association for Payment Clearing Services) approval for this technology. APACS sets the standard for U.K. check printing, which is also used globally. This approval broadens the scope of applications and geographic areas that MICReady can serve.
These innovations were made possible by many of the revolutionary product enhancements that Nipson announced at Drupa 2004. These include toner reformulation and newly designed print heads.
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.