ROHNERT PARK, Calif. –CrossCheck, Inc., the nation’s third largest check approval and guarantee company, announced that check conversion volume for the company grew by 41 percent in 2008 over the previous year.  CrossCheck provides conversion services to retailers, medical and dental groups and automobile dealerships throughout the country.

CrossCheck provides several conversion programs, including CrossCheck Conversion Plus and CrossCheck Business Office Conversion Plus, a back-office conversion service (BOC).  These programs allow merchants to electronically process checks accepted at the Point of Sale and checks mailed in to the business.  Both programs utilize unique technology that allows for conversion of all business checks.  In addition, CrossCheck’s guarantee features provide protection on check transactions returned from the bank due to non-sufficient funds.

Statistics released by NACHA, the Electronic Payments Association, stated that ACH volume showed high increases in the business-to-business segment and for BOC transactions last year.  BOC grew to over 39 million payments in 4th quarter 2008.  Several national retailers are implementing BOC programs, according to the association.

With CrossCheck’s conversion service in place, merchants can authorize their customers’ checks quickly and easily using a credit card terminal or a PC and check imager/reader.  This service reduces trips to the bank as funds are electronically deposited into their merchant account and is useful for multi-location businesses that wish to deposit funds into a designated account or for those businesses not located near their bank.

“Check programs are becoming very important for retailers during this tough economy,” said J. David Siembieda, CrossCheck President and CEO. “Check conversion programs, especially those that combine the convenience of conversion with guarantee features, can provide cost savings and less risk.  Businesses need that now more than ever before.” 

CrossCheck, Inc., a financial services leader since 1983, processes and approves billions of dollars worth of check transactions annually for retail and dealer outlets throughout the U.S. For more than 25 years, its goal has been to increase merchants’ profits by providing efficient and affordable check approval, guarantee and conversion services that can help increase sales and reduce risk. The company is headquartered in Northern California and has an additional office in Texas.  Their services are marketed by a direct sales force, over 1,400 independent sales offices and 134 partners. CrossCheck partners include the nation’s top bank card acquirers which process over 49 percent of the nation’s bank card volume. Visit www.cross-check.com or call (888) YES-2CHX for more information.

 

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