Leisureways Marketing LTD., through its wholly-owned Subsidiary ChequeMARK, Inc., has signed a non-exclusive, non-assignable marketing rights agreement with CrossCheck, Inc. This agreement represents the first marketing relationship entered into by ChequeMARK, Inc., and is expected to significantly advance the company's plans for introducing Electronic Checking throughout the retail merchant community.
CrossCheck is the nation's largest independent information and check authorization service company and ranks fourth in overall size. In 1996, CrossCheck authorized and served as guarantor for 11.5 million checks with a total face value exceeding $3 billion. CrossCheck was founded in 1983 and during 1996 alone has grown by an impressive 38%, now serving 19,613 merchants having 28,838 outlet locations.
Leisureways believes the marketing rights provided to CrossCheck establish a strategic marketing advantage that serves the mutua1 interests of each company. Robert Hills, Cheque-MARK's Vice President of Marketing and Product Devel-opment says, "This award of rights marries the unique selling opportunity represented by our system with CrossCheck's impressive history and established presence within the financial services industry. We look forward to assisting CrossCheck's deployment of merchant payment solutions which rely on our patented technology." ChequeMARK intends to pursue similar opportunities with other industry service providers.
Leisureways owns U.S. patent number 5,484,988 with specific regards to a "Checkwriting Point-of-Sale System" and operates The ChequeMARK System, a central database and authorization system administering various consumer payment services collectively referred to as "Electronic Checking."
For more information, ChequeMARK may be reached at (904) 446-2330 and CrossCheck at (800) 654-2365.
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