Recent Release:
AGOURA HILLS, Calif.--(BUSINESS WIRE)--March 27, 1998--Electronic Clearing House Inc. (Nasdaq:ECHO - news) introduced ECHOLink service, a secure Internet-based transaction and statement presentment service that enables ECHO's base of merchants to use the power of the Internet to not only review and download their daily credit card transactions from ECHO, but also to easily access historical information based on a date or a particular customer.
The ECHOLink program allows unlimited retrieval of detailed transaction data for a set monthly access fee that is based upon the size of the merchant transaction file.
''The ECHOLink service is designed to put the capabilities of a relational database, using the power of searching, sorting and retrieval, in the hands of our merchants sitting at their Internet browser,'' stated Larry Thomas, president of ECHO.
''It is therefore much more than a statement tool -- it is a tool that can save considerable time for our merchants when they need either the specifics of a particular set of transactions or how those transactions are related to other transactions.''
Thomas stated that the ability to hyperlink to all deposit, credit, retrieval and chargeback transactions for a merchant's customer, in a matter of seconds, and then generate on-site reports, has proven to provide substantial cost savings to ECHO's two large beta-test merchants, New Strategies and HD Benefit Services.
''Research on chargebacks and paper-based systems relating thereto are very costly for merchants. Both clients are high-volume merchants and have determined that the ECHOLink program allowed them to reduce research time, as well as assist them in both daily and monthly reconciliation, reducing operations costs significantly,'' stated Thomas.
''As a transaction service provider, ECHO believes that the power of the Internet will prove to have many benefits to our merchants that we have only just begun to tap,'' said Thomas. ''ECHOLink service is a natural enhancement to ECHO's Internet-based ECHOnline service that provides the ability to obtain real-time authorizations in only seconds.
''ECHO believes many Internet Service Providers and mall-based merchants who presently use ECHOnline to enter transactions will utilize ECHOLink since it completes the transactional loop and gives a full complement of feed-back capabilities to the merchant, saving both time and money in the process.''
Electronic Clearing House provides credit card processing, check guarantee, inventory tracking services and various Internet services to more than 17,000 retail merchants and U-Haul dealers across the nation.
Through a subsidiary, Computer Based Controls, ECHO designs, develops and manufactures software and point-of-sale hardware that is utilized as credit card processing terminals, automated money order dispensers, utility bill payment systems and inventory tracking devices. |
