KyckGlobal, an emergent financial technology firm specializing in streamlined digital payments, and PayFlo, A leading provider in physical check fulfillment services in North America, today announced a partnership to expand PayFlo’s digital disbursement options for its customers in the United States and Canada, and for PayFlo to provision checks for KyckGlobal.

Explore the hidden costs of check processing and how Checkflo’s services can save businesses time and money while maintaining a trusted payment method.

MICR is an acronym for “Magnetic Ink Character Recognition,” which refers to machine-readable text that allows computers to read and process the printed information. MICR technology system was developed by the American Bankers Association in the 1950s and has allowed financial institutions to facilitate automatic check-clearing and streamline their check processing.

As the number of COVID-19 cases continues to swell and much of the world remains on lock-down, organizations across the globe continue to adopt remote work strategies in order to do their part to maintain social distancing and help slow the spread of the virus.