The Changing Payments Landscape

1. Scott Shannon Regional Sales Manager U.S. Bank January 9, 2007 The Changing Payments Landscape

3. Changing Environment

8. Check Conversion and Check 21

20. Check Conversion vs. Image Exchange Yes Yes Stop Payments allowed? None Biller obtains written authorization (POP) or informs consumer of intent to convert (ARC) Authorization required? All checks drawn on U.S. bank in U.S. dollars Consumer checks drawn on U.S. banks in U.S. dollars Eligible Items? Paper check is imaged and later converted into substitute check Paper check converted to ACH electronic payment What is it? Image Exchange Check Conversion