DENVER, Aug. 26 CO-ePayments-Checks
DENVER, Aug. 26 /PRNewswire/ -- The Federal Payments LLC division of the
ePayments Group of Companies, a leading electronic payments processing and
support services company, has announced the acquisition of Federal Check
Recovery Inc. of Columbia, Mo.
Under terms of the agreement, ePayments Corp.'s Federal Payments division
will acquire the electronic check recovery accounts of Federal Check Recovery,
increase staffing and continue to work with the former company management.
"Recovery of NSF checks through electronic transactions is revolutionizing
payments processing," said ePayments Corp. CEO Paul Lufkin. "Government
agencies and municipalities that struggle with bad check collection represent
a tremendous growth opportunity, and our Federal Payments division along with
subsequent acquisitions will strengthen our penetration into this market."
National Automated Clearing House Association (NACHA) rules allow checks
returned for non-sufficient funds (NSF checks) to be recovered electronically.
ePayments Corp. leverages the power of the Automated Clearing House (ACH)
Network to recover funds from the check writer's account for the amount of the
check and also recovers state-allowed processing fees.
Lufkin explained that account management will be handled through ePayments
Corp.'s Denver offices, with additional staffing expected to be added due to
the rapid growth of the Federal Payments division. He added that the former
owners of Federal Check Recovery will continue to be affiliated with the
growth of the business, focusing on developing new marketing channels to
expand payment processing services.
A privately held company founded in 2003 in Columbia, Mo., Federal Check
Recovery is a pioneer in the check recovery and payments processing industry.
Federal Check Recovery delivers services throughout the United States through
trade associations as well as through direct sales to merchants.
ePayments Corp. specializes in working with companies, schools,
non-profits and government organizations of all sizes that handle payments in
the form of check and credit card transactions. Since U.S. banking system
rules were changed to allow businesses to use the ACH Network and Check 21
methodologies to electronically process checks from customers, a new industry
of providers has emerged to support businesses with electronic check
conversion, electronic NSF collection and related compliance services.
About ePayments Corp.
Offering a complete range of merchant check and credit card payment
processing and support services, ePayments helps businesses, schools,
non-profits and government organizations who receive non-cash payment
transactions to reduce their risk while increasing cash flow. Unlike the
traditional support players (such as banks), ePayments has evolved the
technologies and processes associated with accepting checking payments to
reduce the costs required to process all forms of payment. The company
provides the complete range of processing services, including electronic
returned check collection (RCK), Automated Clearing House (ACH) origination,
electronic check conversion (ARC), Check 21 (C21) conversion, check
authorization, check guarantee, check-by-phone/web, consolidated returns,
Electronic Payments Compliance Assessments and credit card processing. For
more information on ePayments Corp., call 303-486-0850 or visit
http://www.epaymentscorp.com.
SOURCE ePayments Corp.
