Check Management Services Optimize Check Recovery Chain-Wide
Herndon, VA
August 6, 2003
Check management services leader CheckAGAIN announced it has signed an exclusive agreement to provide RACK ROOM SHOES with comprehensive check management and loss prevention services. The agreement allows CheckAGAIN to optimize check verification and recovery for more than 300 RACK ROOM SHOES locations across the United States. The agreement came after a successful pilot program.
"RACK ROOM SHOES chose CheckAGAIN for its expertise and effectiveness in providing reliable and efficient check management services," said Ernie Shore, Chief Financial Officer of RACK ROOM SHOES. "CheckAGAIN has consistently demonstrated its ability to deliver results, and that has helped us meet our business objectives."
"RACK ROOM SHOES has enormous popularity with its customers, both in terms of product and customer service," said Tim Robinson, president of CheckAGAIN. "Our check recovery methods allow RACK ROOM SHOES' customers to resolve outstanding items in a friendly manner while at the same time allowing the chain to recover revenue more efficiently and quickly."
All RACK ROOM SHOES locations in the U.S. are using the following services from CheckAGAIN:
- Point of Sale Check Authorization — Offers access to the nation's most
powerful negative check databases, including SCANSM. This helps
merchants avoid returned checks by verifying them against a negative database before they
are accepted.
- Electronic Check Re-Presentment (RCK) — Uses electronic recovery methods to
represent funds directly to the consumer's bank account. This process means faster recovery,
resulting in 20-30% higher recovery rates and reduced bank fees. CheckAGAIN's unique service
verifies available funds before the second re-presentment.
- Centralized Returns — Enables multiple locations to consolidate returned
checks into one bank, even if multiple depository banks are being used. This greatly reduces
bank fees and accelerates information associated with returned checks.
- Web-Enabled Reporting — Allows managers to view returned items, control how they are handled, access images and status of all returned items, and export data to a variety of accounting applications. Push reporting enables automatic e-mailing of customized reports.
About RACK ROOM SHOES
RACK ROOM SHOES provides its consumers real value by selling big brands at up to 30% off suggested manufacturers' retail prices. RACK ROOM SHOES is privately held by The Deichmann Group, a European-based store chain that is the largest privately held shoe retailer in the world.
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.
