Herndon, VA
May 20, 2003
CheckAGAIN today announced that Wild Oats Markets, Inc. (Nasdaq: OATS), a leading natural and organic foods retailer, is using CheckAGAIN's leading check management services to streamline returned check processes. As a result, Wild Oats Markets expects to increase its rate of check collection, which will enhance customer service and help to prevent lost sales from bad checks.
"After a successful trial period, CheckAGAIN services have been rolled out to all of our U.S. locations," said Becky Booth, Director of Front End Operations for Wild Oats Markets. "Our company continues to see the rate of check recovery increase, which helps to improve our overall efficiency and prevent sales we had been losing to bad checks. Our check recovery results have never been better."
"Wild Oats Markets is known for providing its customers with the best natural and organic food and personal care products, and for providing the best customer service," said Tim Robinson, president, CheckAGAIN. "We are pleased they have chosen CheckAGAIN to help meet the company's goals of check recovery and customer service."
Centralized Returns is the cornerstone of Wild Oats Markets' check recovery program. The service allows the chain to consolidate returned checks into one bank, even though they have multiple depository banks. CheckAGAIN's Centralized Returns processing increases Wild Oats' chances of successful check recovery and reduces costly bank processing fees. Centralized Returns is the fastest, most efficient way to process returned checks from multiple locations.
Wild Oats Markets is also using CheckAGAIN's Electronic Re-presentment service, which automates the process of recovering bad checks. With CheckAGAIN, checks are electronically re-presented within 24 hours of receiving them. This is done through the Automated Clearinghouse (ACH) network, which means Wild Oats Markets get their money quicker. In fact, CheckAGAIN recovers over 80% of bad checks that Wild Oats Markets receives.
Consumers also like electronic re-presentment because there is no need for them to make in-person re-payment of NSF checks. Checks are efficiently re-presented directly to the consumer's account, with their prior authorization.
About Wild Oats Markets
Wild Oats Markets, Inc. is a nationwide chain of natural and organic foods markets in the U.S. and Canada. With nearly $920 million in annual sales, the company currently operates 101 natural food stores in 25 states and British Columbia, Canada. The company's markets include: Wild Oats Natural Marketplace, Henry's Marketplace, Nature's — a Wild Oats Market, Sun Harvest and Capers Community Markets. For more information, please visit the company's website at www.wildoats.com.
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.
