US Dataworks Achieves Record Enterprise Payments Volume Growth
HOUSTON, June 10 /PRNewswire-FirstCall/ -- US Dataworks, Inc. (Amex: UDW), the long-time leader in Accounts Receivable Check (ARC) Conversion market share, today announced that it achieved industry-leading enterprise payments volume growth during calendar 2008.
Overall, US Dataworks achieved a ninety-five percent (95%) growth in the total number of transactions processed involving the clearing of check image exchange items, and the processing of Back Office Conversion (BOC), WEB and TEL transactions, which are automated clearing house (ACH) Standard Entry Class Codes, in 2008 as compared to the number of such transactions in 2007. Contributing to this growth was the marked increase in the number of image exchange transactions, which more than quadrupled in 2008, going from 20 million transactions processed in 2007 to more the 155 million transactions processed in 2008.
In addition, US Dataworks maintained its position as the ARC volume leader with a thirty-nine percent (39%) market share in 2008 (based on the annual ARC volumes reported by NACHA, which tends to be steady year over year). US Dataworks has been the ARC market share leader since the adoption of this new Standard Entry Class Code.
"US Dataworks has consistently delivered high-performance results in the ARC space. Our growth in check image exchange, BOC, WEB and TEL transactions is further proof that we are on the right track in delivering industry-leading enterprise payments solutions," said US Dataworks President and Chief Operating Officer Mario Villarreal. "It also means that our solutions are capable of delivering value to our customers on many fronts, including operational efficiency and cost savings."
Since early 2006, US Dataworks has expanded its Clearingworks(R) payments processing and clearing application into a true Enterprise Payments Hub. US Dataworks' Clearingworks reduces costs and simplifies payments systems and processes by providing billers with a single platform to integrate paper-based and electronic payment mechanisms, regardless of where they were captured. The platform supports conventional check processing and all NACHA Standard Entry Class Codes.
Clearingworks includes components for payments processing, check processing, retail processing, payments decisioning and returns processing. With a modular framework, the platform can co-exist with any legacy payments systems and processes in support of multiple payments channels. Clearingworks also can be delivered as a hosted solution, with transaction-based pricing.
"US Dataworks has proven, industry-leading performance capabilities for harnessing the business advantages of an Enterprise Payments Hub," said US Dataworks Senior Vice President of Sales and Business Development Mike Dignen. "Our clients are realizing improved operational efficiency and productivity, reduction of operations and systems costs, and streamlined compliance and control." |
