The Cloud Simplifies Lockbox Receivables Payment Processing for Finance and Treasury.

Share Article

US Dataworks new product app announcement for lockbox receivables payment processing made simple in the cloud.

Every day we process $7 billion dollars in payments. The cloud makes it easy to capture payments from any location, website or smart phone...

Sugar Land, Texas, October 16, 2012 –US Dataworks, Inc. (OTC Bulletin Board: UDWK), after presenting the benefits of cloud payment processing solutions at Booth #1320 and hosting a seminar presentation on “Insanely Simple Payments” from author Ken Segall, has today announced Clearingworks’ Lockbox App. This new product app streamlines receivable payments and remittance processing for banks, utilities, and payment professionals.

Marc Palombo, US Dataworks Vice President, stated, "Every day we process $7 billion dollars in payments. The cloud makes it easy to capture payments from any location, website or smart phone— providing a super simple solution."

For finance and treasury professionals, remittance processing is time consuming and fraught with security, compliance and technical complexities.

The Clearingworks’ Lockbox solution is a cloud lockbox receivables payment processing that saves time and costs as it allows users to:

  •     Eliminate batch processing to expedite the total time required to process payments.
  •     Forget encoding, endorsing and sorting. Clearingworks Lockbox App does it all in the cloud.
  •     Reduce equipment cost with our single pass approach to remittance capture.
  •     Enhance accuracy of posting with intelligent payment matching and dual controls on exception handling.
  •     Eliminate expensive customization fees and extended test cycles with proven ACH file creation and X9 Image Cash Letter formats.
  •     Integrate with any accounting or CIS system for accurate and timely receivable updates.
  •     Improve your customers’ experience with consistent payment processing regardless of where and how your customer chooses to pay.

Tom Drunsic, founder of Lighthouse Payment Services, stated, "We are excited about the opportunity to partner with US Dataworks. They bring a robust, flexible and cost-effective lockbox processing solution that is the technology we need to continue expanding our business beyond the 200 + companies we currently serve. Most importantly, the US Dataworks team is very knowledgeable and always looking for opportunities to improve the platform to best meet the needs of their clients. They have been a good partner and very easy to work with."

“More businesses trust Clearingworks with electronic check conversion than any other lockbox solution provider. In fact, we process 40% of all ARC conversions according to NACHA statistics,” stated Leilani Doyle, Vice President for US Dataworks. “We are showcasing our newest products and solutions including our Clearingworks’ Cloud Payment Ecosystem to solve even the most complex payment challenges online with our new website.”

Take a tour of Clearingwork’s Lockbox Payments for insanely simple receivables payment processing online here:
http://www.usdataworks.com/lockbox/
About Clearingworks®
The Clearingworks cloud payment processing solution currently services more than 700 financial institutions, utilities, content providers, and credit card issuers, either direct or through our partner network. Clearingworks processes 2 billion payments a year across all payment types and sources using an agile open architecture. When combined with our customers using the on-premise solution Clearingworks process almost 6% of all check volume according to the latest Federal Reserve Bank check study.* For more information contact Leilani Doyle at US Dataworks.

About US Dataworks
US Dataworks offers cloud computing on-demand payment processing services with proven enterprise-class payment, deposit, returns processing, and powerful payment analytic tools. US Dataworks is a trusted payments provider to utilities, telecommunications providers, content providers, financial institutions and government agencies. Additional information about US Dataworks is available at http://www.usdataworks.com.

*Based on the Federal Reserve Payments study released in December 2010.

Certain statements made in this press release (other than the historical information contained herein) constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements regarding our expectations concerning our current and future products. Any forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including, but not limited to, the failure of our new solution to perform as anticipated, our ability to provide long-term customer value and agility, our ability to protect our intellectual property, our position in the marketplace, our ability to develop and timely introduce products that address market demand, the impact of alternative technological advances and competitive products, market fluctuations, our ability to repay or refinance our debt, our ability to realize the anticipated benefits from our business initiatives, and other risks detailed from time to time in our SEC reports including our Annual Report on Form 10-K for the year ended March 31, 2012 filed with the SEC on July 13, 2012. These forward-looking statements speak only as of the date hereof. US Dataworks disclaims any obligation to update these forward-looking statements.

SOURCE US Dataworks, Inc.

# # #

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Leilani Doyle

Marc Palombo
Follow us on