ACH Direct First Processor on STAR CHEK Direct.Business Editors/High-Tech Writers PALM SPRINGS, Calif.--(BUSINESS WIRE)--May 18, 2004 ACH (Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to Direct Inc., a leading payments processor, is pleased to announce that it is the first Acquirer Processor to integrate and go into live production with STAR Systems Inc's new STAR CHEK Direct service. By utilizing STAR CHEK Direct, ACH Direct customers are able to verify (1) To prove the correctness of data. (2) In data entry operations, to compare the keystrokes of a second operator with the data entered by the first operator to ensure that the data were typed in accurately. See validate. checking account information real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. or convert the check into an electronic debit A monetary amount that is subtracted from an account balance. A debit from one account is a credit to another. See credit. in real-time. Real-time check verification and conversion is a dramatic improvement over the tools merchants have previously employed to combat losses caused by bad check writers. "We're constantly striving for new and innovative ways to reduce merchant losses," said Jeff Thorness, chief executive officer of ACH Direct. "By combining these new capabilities with our existing check verification and conversion services, ACH Direct can help organizations maximize cash flow and eliminate losses from returned checks." Pricing for the new services is a simple per transaction fee, rather than a percentage fee or "discount fee," and is priced comparable to existing check verification and conversion services. Organizations can access the new service through any of ACH Direct's existing products, or it can be accessed directly though integration with ACH Direct's PaymentsGateway platform. ACH Direct offers an API (Application Programming Interface) A language and message format used by an application program to communicate with the operating system or some other control program such as a database management system (DBMS) or communications protocol. , sample code and a variety of free developer tools to seamlessly integrate the PaymentsGateway platform's capabilities into existing software and hardware systems. Thorness notes the architecture of the PaymentsGateway platform plays a key role in deploying these new capabilities. "By leveraging the modular design In the context of systems engineering, modular design — or "modularity in design" — is an approach aiming to subdivide a system into smaller parts (modules) that can be independently created and then used in different systems to drive multiple functionalities. of our PaymentsGateway platform, ACH Direct is able to once again take a cutting-edge technology and rapidly bring it to market." He added that ACH Direct is able to easily extend new services and capabilities to the company's existing customers. "Our development and deployment of STAR CHEK Direct within our mature PaymentsGateway environment simply means that our customers are able to take advantage of these new capabilities without any investment in time or labor." Background ACH Direct is one of the largest privately held electronic funds processors in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. with over $2 billion in transactions processed in 2003. ACH Direct has been providing payment-processing solutions to a wide mix of clientele since 1998 and continues to develop ways to help clients who face an increasingly complex and competitive business environment. ACH Direct offers a comprehensive line of payment products and solutions including check conversion, check verification, direct deposit payroll processing and electronic bill payment and presentment presentment: see indictment. . For more information on ACH Direct's full line of products and services, contact the company's Sales department at 888-235-4635 or visit the company on the Web at www.achdirect.com. |
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