This just in:
ECHO Receives $1.3 Million Equipment Order
AGOURA HILLS, CALIF. (Sept. 1) BUSINESS WIRE -Sept. 1, 1998--Electronic Clearing House Inc. (Nasdaq:ECHO) Tuesday announced that its equipment subsidiary, Computer Based Controls Inc. (CBC), received an order of approximately $1.3 million from U-Haul International (UHI), Phoenix, for CBC terminals.
Delivery is scheduled to occur in the second quarter of fiscal 1999 and, when fully deployed, 11,500 U-Haul dealers will be connected nationwide using CBC terminals and operating over the ECHO network.
"U-Haul has effectively established one of the largest proprietary networks in the nation wherein U-Haul dealers across the United States are connected and online. Information exchanges that were once paper-based are now electronic," stated Joel Barry, CEO of ECHO.
"To help U-Haul accomplish this feat, ECHO has been pleased to provide the point-of-sale equipment, the special programming services and the
day-to-day management of the national network for U-Haul and its dealers. Few companies, in our experience, are so committed to full automation through the development and use of proprietary network services, and we are honored to be a part of bringing this 21st century vision of U-Haul into reality," Barry stated.
In addition to generating rental contracts, tracking inventory and providing financial reconciliation between dealers and U-Haul corporate, the system provides full credit card processing capability. CBC has also designed and delivered money order dispensing devices under a pilot program with the U.S. Postal Service.
Electronic Clearing House provides credit card processing, check guarantee, inventory tracking services and various Internet services to more than 19,500 retail merchants and U-Haul dealers across the nation.
Through its 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. |
