Is There and ECHO in Here?

XPRESSCHEX, Inc (formerly Magic Software Development, Inc.) recently released an Electronic Check Recovery product to National Bank Drafting Systems, Inc., to be offered to merchants through their national sales organization.

The ECR product is used by merchants to electronically collect a paper check that has been returned for non-payment. The returned check is sent to XPRESSCHEX’s processing center where it is electronically imaged. An electronic collection attempt is initially made through the Automated Clearing House system. If this method is unsuccessful, a merchant may utilize Magic’s regular collection department which sends letters and places phone calls to the check writer in default. Collection letters are printed with an image of the actual check that was returned. Merchants are able to view check images and collection results on the Internet using a security password system.

“We have developed an integrated product that offers automated collection, traditional collection, imaging, and online reporting,” stated Debra Kirk, collection manager of XPRESSCHEX, Inc.

XPRESSCHEX, Inc., is a wholly owned subsidiary of Electronic Clearing House, Inc. (ECHO). ECHO provides credit card processing, cash advance services, check guarantee, check verification, check conversion, inventory tracking, and/or various Internet services to over 41,000 retail merchants. For additional information visit www.echo-inc.com.

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