"We're pleased Kwik Trip is already experiencing the benefits of SPIN technology," said Barry Nordstrand, Solutran chief executive officer. "SPIN has saved a variety of retail businesses more than 50% in check processing fees. [image-nocss] It provides an ideal solution for retailers looking for cost-reduction and easy implementation without sacrificing accuracy and efficiency."
"Solutran led the project," said Angela Newman, NSF collections manager of Kwik Trip. "They worked closely with our IT group, assisting them with questions and defining the technical specifications. It was easy to implement in the store because minimal changes were needed."
Used in more than 12,500 retail locations, SPIN can be implemented without upfront capital expenditures. Unlike traditional BOC (Back Office Conversion), the check imaging, archiving, and destruction services are outsourced to Solutran, and MICR data capture uses existing infrastructure.
Since 1982, Minneapolis-based Solutran has provided a full range of treasury management solutions to corporations and financial institutions. Solutran's customized solutions span the payment spectrum. Product offerings include depository processing, check conversion services, controlled disbursement services, returned check management and WIC payment processing.
With 415 locations in Minnesota, Iowa and Wisconsin, La Crosse, Wis.-based Kwik Trip is a dominant presence in the Midwestern convenience store market. Established in 1965, Kwik Trip is a family-owned company that not only provides fuel and other convenience store items, but produces and packages a wide variety of its own store products at its facilities.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.