Creditel Selects BankServ Check Services to Enable Check Transactions on Mobile Phones.Business Editors & High-Tech Writers LOS ANGELES--(BUSINESS WIRE)--April 9, 2002 Creditel(TM), an emerging leader in secure wireless payment transaction solutions, has signed an agreement with BServ Check Services, L.L.C. to enable wireless processing of check transactions for businesses with mobile phones that utilize the Creditel PowerPay(TM) service, a suite of keypad-entry payment and enterprise applications for mobile phones. In the agreement, BankServ Check Services will provide check 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 that include verification, guarantee and conversion for transactions initiated through the Creditel PowerPay(TM) application operating on Internet enabled mobile phones. This service will complement other enterprise solutions and data exchange applications available through Creditel, including credit card transaction processing, inventory management, sales tracking and location-based services See mobile positioning. . According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. recent Federal Reserve payment studies, of the nearly 50 billion checks still written annually, at least 10 billion (19%) are written to initiate payment at the point of sale. "Providing faster and more efficient processing of checks, especially those presented in the mobile business environment, is one of Creditel's primary goals," said Gary Walker
"With an amazingly large percentage of the buying public still not holding a credit card and the American consumer's love, comfort, security and ingrained in·grained adj. 1. Firmly established; deep-seated: ingrained prejudice; the ingrained habits of a lifetime. 2. habit of writing checks, checks are not going away anytime soon," said Amy Goodson, Vice President of Business Development for BankServ Check Services. "Our new relationship with Creditel allows us to extend our reach to mobile businesses, so that all of our check services are available to the merchant, wherever he might be doing business." "The exchange of money for 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. is the foundation of any economy and the lifeblood life·blood n. 1. Blood regarded as essential for life. 2. An indispensable or vital part: Capable workers are the lifeblood of the business. of any business. The ability to process check transactions in the field is a tremendous advantage in providing businesses with the knowledge that they have been paid," said Creditel CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Georges F. Elias. "The PowerPay service is especially well-suited to mobile businesses where check acceptance options have been limited in the past. The Creditel solution provides mobile workers with a multipurpose mul·ti·pur·pose adj. Designed or used for several purposes: a multipurpose room; multipurpose software. multipurpose Adjective payment device, secure transactions and the lowest transaction processing costs available, all with the convenience of their mobile phone." A recent study conducted by AMI Partners, an industry-leading market intelligence consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a focused on global IT, Internet and Communications, forecasts a $14 Billion revenue opportunity in the U.S. for wireless technology providers -- driven by a rapidly increasing mobile workforce and wireless data commercial users. The firm further projects over half of the entire U.S domestic workforce to be mobile by 2006 totaling 67 million mobile workers. "BankServ's product offering, which is built on world class check conversion technology and a track record of over 20 years of successful retail check guarantee, verification and collection services, uniquely positions us to satisfy the mobile check transaction needs of Creditel customers," said Anil Gajwani, President and CEO of BankServ Check Services. "Together, we will offer these services to the wireless mobile businesses that want them and need them, in a safe and secure manner." ABOUT CREDITEL(TM) -- Mobilizing mobilizing, v 1. freeing or making loose and able to move. 2. observing any ongoing movements in a client's body, whether small or large, assisted or not, that identify strengths and weaknesses, as well as the client's physical and Business(TM) Creditel(TM) offers businesses of all sizes secure, affordable and easy-to-use wireless transaction solutions and an interactive website designed to immediately increase profitability and enhance productivity: The Creditel(TM) MTS (1) See Microsoft Transaction Server. (2) (Modular TV System) The stereo channel added to the NTSC standard, which includes the SAP audio channel for special use. 1. MTS - Message Transport System. 2. (TM) (Mobile Transaction System). The MTS supports payments and order processing, data transmission and information exchange anywhere via an Internet-enabled cellular phone. It delivers a versatile platform that supports multiple wireless carriers, mobile devices, data delivery methods and applications. The combination of the Creditel MTS value-added accessories and business enhancement tools positions the company at the forefront of the explosive union of enhanced business services and wireless technology. Please visit www.creditelcorp.com for more information. ABOUT BANKSERV CHECK SERVICES BServ Check Services, L.L.C., with headquarters in Miami, Florida “Miami” redirects here. For the Native American tribe, see Miami tribe. Miami is a major city in southeastern Florida, in the United States. It is the county seat of Miami-Dade County. Miami is a gamma world city with an estimated population of 404,048. , combines world-class point-of-sale electronic check conversion technology with successful retail check guarantee and check collection services. BankServ Check Services and its associated entities provide check guarantee services to about 30,000 U.S. retail companies and also provide a seamlessly integrated, complete electronic check services product line to retailers and financial service providers. It has been the fastest growing check guarantee company in the U.S. during the last five years, and is the largest independently owned check guarantee company in the country. Visit www.bankservchecks.com for more information. |
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