The TALL Group of Companies has launched a cheque payment solution for the scrap metal recycling industry to help merchants and dealers prepare for new legislation banning cash transactions. Checkprint Solution Express will provide an alternative payment method for scrap metal that complies with the imminent changes, as well as delivering a range of other benefits in terms of fraud protection and financial control.
The revisions to the Scrap Metal Dealers Act 1964 will come into force at the beginning of December, outlawing the purchase of scrap metal for cash and only permitting cheque or electronic payments. With this in mind, Checkprint is offering a complete solution that has been specially developed to meet the precise needs of the scrap metal sector including the necessary software, individual laser cheques and a Pira (Print Industry Research Association) approved printer.
Checkprint Solution Express will enable merchants and dealers to quickly and accurately print individual cheques for scrap metal purchases with a receipt of payment. It will also include the option to create pre-signed cheques using a scanned signature, which can be used for all payments or automatically removed if the value exceeds a pre-agreed limit providing added financial control. In addition, the system retains the details of all issued cheques to allow copies to be reproduced on demand for auditing and reporting purposes.
Martin Ruda, Managing Director of The TALL Group of Companies commented: “We are finding that many scrap metal dealers and merchants are unprepared for the forthcoming changes, so we have developed a simple and cost effective solution that is easy to install and operate. Our solution provides total peace of mind that a company has the correct processes in place and is complying with the requirements of the revised legislation.”