Many of the Nation's Most Powerful Banks to Market Telecheck's Electronic Check
Commerce Services
HOUSTON, Sept. 26 /PRNewswire/ -- TeleCheck Services, Inc., the world's
leading check acceptance company, and a subsidiary of leading e-commerce and
payments company First Data Corp. (NYSE: FDC), today announced that many banks
across the country will now offer the TeleCheck(R) Electronic Check
Acceptance(SM)(ECA(R)) service, check guarantee services and the Eclipse(TM)
payment authorization terminal to their merchant customers.
By adding TeleCheck's suite of electronic check services to other payment
offerings, banks can now provide a total payment solution for their merchant
clients. Among the first financial institutions to market TeleCheck's
services are: Bank Boston Merchant Services, Chase Merchant Services,
Huntington Merchant Services, Texas Independent Bankers, Wachovia Merchant
Services, Cardservice International and Wells Fargo Merchant Services.
TeleCheck's ECA(R) service converts a consumer's paper check into an
electronic item at the point-of-sale and delivers funds directly to the
merchant's account, improving cash flow. Since its introduction in June 1998,
TeleCheck has processed over $1.7 billion dollars in electronic transactions.
The company's Eclipse(TM) integrated payment terminal is capable of processing
checks, credit cards and debit cards, and is the first such terminal to
securely, conveniently and economically image name and address information
from a check.
By leveraging the relationships that banks have with their merchant
customers, TeleCheck strengthens its expansion as an electronic check
processor by utilizing strategic distribution channels.
"Working together with financial institutions and other partners enables
TeleCheck to make our products and services more widely available to the
businesses who need them," said Jerry Mosbacher, senior vice president of
strategic distribution for TeleCheck. "This is a great opportunity to
increase our presence, particularly in the area of electronic check
processing, and it gives banks the opportunity to market a complete electronic
payment solution package to their merchant customers."
TeleCheck is the world's leading provider of paper and electronic check
services, helping more than 228,000 retail, financial institution, grocery and
other industry clients to increase their profitability, reduce risk and
streamline operations. TeleCheck's check acceptance and electronic commerce
solutions help businesses safely and efficiently accept payment at the point
of sale, by telephone, over the Internet, and through recurring ACH payments.
TeleCheck services are offered through a sales and service network in more
than 90 cities in the United States and in Puerto Rico, Canada, Australia and
New Zealand. In 1999, TeleCheck authorized more than $155 billion in checks,
representing 3.1 billion transactions. For more information about TeleCheck,
visit the Internet site at www.telecheck.com.
Atlanta-based First Data Corp. (NYSE: FDC) is a global leader in
electronic commerce and payment services. Serving more than two million
merchant locations, more than 1,400 card issuers and millions of consumers,
First Data makes it easier, faster and more secure for people and businesses
to buy goods and services, using virtually any form of payment: credit,
debit, stored-value card or check at the point-of-sale, over the Internet or
by money wire. For more information, please visit the company's Web site at
www.firstdata.com.
SOURCE TeleCheck Services, Inc.
-0- 09/26/2000
/CONTACT: media, Jalinna Jones of TeleCheck Services, Inc., 713-331-7359,
or jalinna.jones@telecheck.com; or Laura Ehrlich of Bates Churchill,
713-267-7233, or lehrlich@mail.batesww.com, for TeleCheck Services, Inc./
/Photo: NewsCom: newscom.com
PRN Photo Desk, 888-776-6555 or 201-369-3467/
/Company News On-Call: prnewswire.com or
fax, 800-758-5804, ext. 103364/
/Web site: firstdata.com
telecheck.com /
(FDC)
CO: TeleCheck Services, Inc., First Data Corp.; Bank Boston Merchant
Services; Chase Merchant Services; Huntington Merchant Services; Texas
Independent Bankers; Wachovia Merchant Services; Cardservice
International; Wells Fargo Merchant Services
ST: Texas
IN: FIN REA MLM CPR
SU: LIC
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