Chexar Networks Completes Acquisition of Clear Payments

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A natural evolution: Consolidation and simplification of full cycle check capture to settlement for underserved consumers and providers

I couldn’t be more excited to have the technology and talent from Clear Payments now officially on our team. They are already having a positive impact on our future.

Chexar Networks, Inc. ("Chexar®"), the national leader of technology solutions for converting paper checks into Good Funds, has announced completion of its acquisition of Clear Payments, Inc. ("CPI®"), the Nashville based remote and mobile deposit capture check 21 settlement company. Chexar intends to continue to operate the Nashville location as a sales and technology center going forward and all key members of the CPI team have agreed to stay on with the company.
 
“The acquisition creates a unique foundation through which our clients will experience an array of new deposit and good funds products targeted at providing a superior consumer experience, access and pricing”, said Randy Simoneaux, CEO of Clear Payments.

Drew Edwards, CEO of Chexar, added, “I couldn’t be more excited to have the technology and talent from Clear Payments now officially on our team. They are already having a positive impact on our future”. 

About Chexar

CHEXAR® is the national leader for technology and solutions that enable clients to cash, deposit or load any check with immediate funds availability. Chexar’s solutions provide clients with the ability to truly serve the nation’s under-banked population now estimated to be almost 100 million people. The gating factor for these consumers is their need to change all types of checks into cash or value before they can acquire other services including bill pay, money transfers, or prepaid cards.

Chexar’s solutions enable any business to convert ANY type and ANY size of check to cash or to immediate credit onto Prepaid Cards or as fee-based deposits into bank accounts and to mitigate the risk of duplicate deposits on all check transactions. The company’s one-of-a-kind solutions combine multiple national databases, rules engines, and proprietary technology with redundant 24/7 risk management centers to achieve the industry’s highest automated and overall approval rates on any check.  Chexar’s solutions are deployed across multiple platforms including turnkey point of sale solutions, assisted and self-service kiosk solutions, mobile devices, and full XML integrations. For more information, please visit http://www.chexar.com.

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Chez Echeverri
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