Herndon, VA
January 12, 2000
While debit and credit cards have been an increasingly convenient method of payment heading into the 21st Century, good old-fashioned check writing isn't going anywhere fast.
CheckAGAIN, a leading provider of point-of-sale payment solutions, today announced with its partner company, ArJay Data, that they processed $154 million in check authorizations in December alone, saving merchants $9.5 million in bad checks. The December figures reflect an increase of 29% over January through November monthly averages.
CheckAGAIN's electronic re-presentment transactions also increased 370% in December 1999, over December 1998 totals.
"December is always an exciting month in the check processing industry," says Brendan Lane, Director of Operations for both CheckAGAIN and ArJay Data. "It is evident in our figures that check writing is still a very dominating method of payment."
The increase in transactions can be attributed partly to the recent health in the nation's economy, as well as consumer confidence being at an all-time high.
About ArJay Data
Founded in 1991, ArJay Data (www.arjaydata.com) is a payment transaction processing company located in Northern Virginia. ArJay Data functions primarily as a licensed third-party processor of the SCAN database. SCAN is the nation's most widely used database of bad check writers, comprised of returned check data from over 77,000 retail locations and 80% of banks nationwide.
Many of the largest SCAN merchants house and manage the database file internally. ArJay Data provides this infrastructure and access to the SCAN database for those merchants that do not wish to maintain such an infrastructure.
About CheckAGAIN
Established in 1998, CheckAGAIN uses innovative technology to simplify and improve the recovery process on returned checks for merchants. The widely used system helps businesses nationwide increase their recovery on return checks, while lowering associated transaction fees. CheckAGAIN assists consumers by significantly reducing inconveniences normally associated with resolving misunderstandings due to returned checks. For additional information please visit www.checkagain.com or call 800/666-5222.
