AutoZone Chooses First Data's TeleCheck to Convert Paper Checks to Electronic Transactions and for Risk Management.DENVER -- TeleCheck Services, Inc., the world's leading check acceptance company and subsidiary of First Data Corp. (NYSE NYSE See: New York Stock Exchange : FDC FDC - Floppy Disk Controller ), today announced that AutoZone Stores nationwide are now using the TeleCheck Electronic Check Acceptance(R) (ECA ECA See: Export Credit Agency (R)) service and the TeleCheck(R) Guarantee service. "AutoZone always puts its customers first," said James Cook, vice president and treasurer, AutoZone. "With the TeleCheck ECA service, our customers now have a more efficient way to pay by check at our AutoZone locations 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. . Moreover, AutoZone saves the costs associated with handling paper checks." AutoZone is utilizing the TeleCheck ECA service to settle check transactions electronically, and is using the TeleCheck Guarantee service to reduce its exposure to fraud and risk. The TeleCheck ECA service converts a paper check issued by the consumer into an electronic item, and settles funds using the same system many consumers trust with automatically deposited paychecks. By removing the paper from the transaction, the ECA service eliminates the back office support traditionally required by a merchant for deposits and returns. With the TeleCheck Guarantee service, if TeleCheck's simple transaction procedures are followed, any approved items that are returned become TeleCheck's responsibility and the merchant is funded for the transaction. The TeleCheck Guarantee service uses advanced adaptive decision technology and connects merchants to the most accurately maintained and complete national source of check writing information available in the industry. "The TeleCheck ECA and the TeleCheck Guarantee service provide AutoZone with the most advanced and reliable check acceptance tools available," said Brian Mooney Brian Mooney, ( b.2 February 1966) is an Irish former footballer who made his name as a skillful winger in the English football league. Born in Dublin, Ireland, Brian was spotted in 1983 by Liverpool F.C. playing for legendary Irish feeder club Home Farm F.C. , who leads First Data's TeleCheck business. "By processing checks for AutoZone's locations nationwide with the ECA service, First Data strengthens its position as the foremost provider of electronic check conversion services." About First Data First Data Corp. (NYSE: FDC) is a leading provider of electronic commerce and payment solutions for businesses and consumers worldwide. Serving 4.1 million merchant locations, 1,500 card issuers and millions of consumers, First Data powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. using virtually any form of payment. The company's portfolio of services and solutions includes credit, debit A monetary amount that is subtracted from an account balance. A debit from one account is a credit to another. See credit. , private-label, smart and stored-value card A smart card that is "loaded" with cash. See smart card. issuing and merchant transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. services; money transfer services; money orders; fraud protection and authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. solutions; check guarantee and verification services through TeleCheck; as well as Internet commerce and mobile solutions. Western Union and its subsidiary, Orlandi Valuta, together make up one of the world's largest money transfer networks with approximately 250,000 Agent locations in more than 200 countries and territories. The company's STAR Network offers PIN-secured debit acceptance at approximately 1.7 million ATM and retail locations. For more information, visit www.firstdata.com. About AutoZone As of August 27, 2005, AutoZone, Inc. (NYSE: AZO) sells auto and light truck parts, chemicals and accessories through 3,592 AutoZone stores in United States and 81 AutoZone stores in Mexico and also sells the ALLDATA brand automotive diagnostic and repair software. On the Web, AutoZone sells diagnostic and repair information and auto and light truck parts through www.autozone.com. FDC-1 |
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