(PRWEB) January 14, 2000
FOR IMMEDIATE RELEASE:
January 12, 2000
CheckAGAIN and ArJay Data Announce Significant Volume in Checking Transactions Over Holiday Season
Herndon, VA - While debit and credit cards have been an increasingly convenient method of payment heading into the 21st Century, good old-fashioned check writing isnÂt 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.
CheckAGAINÂs 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 isevident in our figures that check writing is still a very dominating method of payment.Â
The increase in transactions can be attributed partly to the recent health in the nationÂs economy, as well as consumer confidence being at an all-time high.
Founded in 1998, CheckAGAIN (http://www.checkagain.com) uses innovative technologies to simplify the recovery process on returned checks for both merchants and customers. The CheckAGAIN system is helping merchants nationwide recover more of the funds lost to check returns, while lowering the fees and costs involved. CheckAGAIN is also assisting merchants by significantly reducing the hassle involved in clearing up misunderstandings due to check bounces.
About Arjay Data
Founded in 1991, ArJay Data (http://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.
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CheckAGAIN Media Relations:(800)666-5222.