should be worth $.50US
IVI Checkmate, BankServ and CrossCheck Announce Guaranteed Electronic Check Conversion Program
-- Program reduces check acceptance cost and exposure by eliminating paper check at the point of service --
ATLANTA, GA and TORONTO, May 10 /CNW-PRN/ - IVI Checkmate Corp. (NASDAQ: CMIV - news); (TSE: IVC/IVI) today announced the release of a Guaranteed Electronic Check Conversion Program for retailers. The comprehensive check acceptance and check processing program was released in partnership with BankServ of Atlanta, GA and CrossCheck Inc. of Rohnert Park, CA. BankServ is providing the electronic check conversion services, CrossCheck is providing the check guarantee services and IVI Checkmate is providing the e(N)-Check 3000, a direct dial check reader. The program is being marketed through CrossCheck's reseller network, which is considered to be the largest in the merchant bankcard industry.
The Guaranteed Electronic Check Conversion Program makes accepting checks as simple, secure and fast as accepting credit cards. Each check is converted into an electronic transaction at the point of acceptance in a format similar to that of a credit card. The check is electronically authorized using CrossCheck's guarantee service and is then processed electronically using BankServ services.
John Mamalakis, Vice President and General Manager of IVI Checkmate's Financial Systems organization, stated, ``BankServ's check conversion services and CrossCheck's guarantee service have greatly enhanced the benefits that we are able to provide to the retail marketplace. This program allows the e(N)- Check 3000 direct dial check reader to deliver a comprehensive solution that reduces both the risk and cost of check acceptance''.
Gary L. Grant, BankServ's Vice President of Sales and Marketing for Electronic Check Services Division, stated, ``Electronic check conversion automates the check acceptance process by converting the paper check into an electronic transaction at the point of sale. For the retailer, this reduces bank charges, expedites the availability of funds and eliminates the manual 'back-office' processes of depositing paper checks.''
J. David Siembieda, Executive Vice President of Sales and Marketing at CrossCheck, stated, ``The e(N)-Check 3000 allows us to offer merchants an affordable solution for convenient and reliable check conversion at the point of sale. With this program, retailers do not need to replace their current credit card payment equipment. They simply plug in the e(N)-Check 3000 to begin accepting checks safely and cost-effectively.'' |
