Busy 90 days at BankServ

M aybe it's just me, and I do acknowledge that I am getting older (no, not old). But on some days it's just damn hard to keep up with the game without a scorecard.

Case in point: In April, BankServ announced that it was basically getting out of the check conversion business. Peter E. Hosokawa, BankServ's Chief Operations Officer, said, "BankServ is exiting the POS conversion market. We believe that the future of POS check conversion is a bright one, but as a business we have had to prioritize our opportunities, and we have decided to focus our scarce resources elsewhere."

Following this step, rumors grew that BankServ would sell its check conversion customers or perhaps assign them to Global eTelecom or - surprise! - Lynk Systems. BankServ then encouraged merchants who wished to move from guarantee/conversion services provided by BankServ and CrossCheck to move to Global eTelecom and CrossCheck.

And, most recently (July 12), Insta-Check (the obscure check company that always tells The Nilson Report that it is huge) and BankServ announced a new joint venture of the two companies. This company will be called BankServ Check Services Inc. and will be headquartered in Miami.

You must admit that must have been a busy 90 days at BankServ.