Posted: December 19, 2010 in Uncategorized



Paystation has been providing secured cheque imprinting solutions for over 50 years.  Major banks have entrusted the security of their money orders and bank drafts using this technology. Paystation has positioned itself very uniquely by offering next generation, yet affordable, cheque fraud deterrent THREE-IN-ONE (3-in-1) cheque writing solutions. Organizations in corporate and other sectors can benefit immensely by protecting themselves from huge losses suffered due to cheque fraud. These scalable solutions are easy to use and are compatible with all Windows®-based accounting applications.

Cheque fraud is perhaps the oldest and most common form of financial crime. It is one of the fastest growing financial crimes – increasing by about 20% per year and costing North American businesses almost $20 billion per year (Desjardins-2010). Why is this form of crime so high? ….Simply because cheques remain the dominant form of payment.  In the Greater Toronto Area (GTA) alone, more than 8 million cheques are processed each day.

There are typically three types of cheque fraud:
· Counterfeit- cheques not written or authorized by legitimate account holder
· Forged- Stolen cheque not signed by account holder
· Altered-cheque that has been properly issued by the account holder but has been intercepted and the payee and/or the amount altered

In order to control cheque/financial fraud, different systems and processes have been introduced. Electronic transactions, debit/credit cards with chip, ATM machines and online banking are all modern ways of doing financial transactions – which can be both safe and convenient.  However, the bottom line is, cheque transactions are dominant and can provide a more secure solution than electronic solutions that are exposed to world-wide, 24/7 hacking and other potential cyber crimes. A secured cheque is the safest and most economical way to transact business.

As big corporations become more alert to cheque fraud, they are taking necessary measures for their protection. This has led fraud perpetuators to target small to medium sized businesses. Cheque fraud losses amounting to billions of dollars annually is impacting the economy significantly and is also having very serious effect on the corporate sector. At times small and medium sized businesses are unable to sustain such losses which are not only limited to immediate financial loss, but can also be catastrophic – potentially putting a business’s very existence in jeopardy.

For over 50 years Canadian businesses, banks and Credit Unions have been protecting   manually written cheques using the Paymaster® Cheque-Writer.  Paystation now offers software solutions capable of catering to the needs of all sizes of organizations in corporate and other sectors. These software solutions are affordable and can be selected based on individual needs and budget.  Rich with advanced features, such biometric security and secure remote authorizations – these solutions represent the next generation in securing business assets.

The following software applications can easily be added to your existing Windows®-based accounting package to help generate cheques using unique security features for safeguarding against cheque fraud:

1) Paystation CPA 006

  • CPA 006 compliant issued cheques using your pre-printed cheque stock
  • Effectively manages up to 32 form options
  • *$ 150,000 Certificate of Warranty to protect against fraud losses.
  • *Identity Theft Support Program up to $25,000 coverage for Corporate Signing Officers

Additional Security available through:

  • Encrypted signature
  • Multi-level password control and customizable operator privileges
  • Exclusive Paystation font imprinted on the cheques as they are issued.

2) Cheque Payment Software 2.3 (CPS)

  • CPA006 compliant issued cheques using blank or existing pre-printed cheque stock
  • Effectively manages multiple companies, accounts and currencies
  • * $150,000 Certificate of Warranty to protect against fraud losses
  • *Identity theft Support

Additional Security available through:

  • Encrypted signatures
  • HASP Key
  • Multi-level password
  • control and customizable operator privileges
  • Exclusive Paystation 3-in-1 font imprinted on the cheques as they are issued

3) Cheque Payment Enterprise (CPE)

  • The only 64 bit compliant MICR printing software in Canada-will run on a 32-bit server but allows you to future-proof your solution
  • Streamline multi-step cheque process with added security and control throughout
  • Effectively manages multiple companies, accounts and currencies
  • Multiple audit reports in a variety of formats for all your reporting needs
  • *$150,000 Certificate of  Warranty to protect against fraud losses
  • Exclusive Paystation 3-in-1 font imprinted on the cheques as they are issued
  • Microsoft Vista® Compliant
  • CPE Premium version includes configuration toolset for in house customization of templates, styles and data mapping

Available Options:

  • Encrypted Signatures
  • Positive Pay
  • EFT
  • Remote Authorization
  • Biometric Control
  • Company Logos

Payments are an essential activity of every business requiring strategy with a full set of policies and procedures and integral part of such strategy is securing cheque.

* Offered only in Canada

Kirther Investment & Trading Inc.

For more information please contact: Saeed Ghaus
(647) 520-8351
T.905.625.8500 ext.373 TF.1.800.268.1440
Authorized Distributor for PayStation Inc.