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SAFER THAN CREDIT CARD, CHECK-CASHING BY PHONE OPENS NEW HORIZONS FOR TELEPHONE ORDERING

 LOS ANGELES, Nov. 20 ~PRNewswire~ -- Consumers can literally pay by check by phone with the payment completed within 24 hours to the firms utilizing a new service that combines electronic funds transfer with the convenience of credit cards.
 In fact, PhonChek Systems Inc., in introducing its Electronic Check Presentment (ECP) program, said it will enable payment by phone to businesses utilizing the system by millions of people who lack credit cards.
 "This is found money for any business taking orders by phone," said Howard Harmon, communications consultant and certified public accountant in Los Angeles. "It increases a business' potential customer base 30 to 50 percent."
 "If your company is one of the thousands of businesses that relies on orders by phone, you owe it to yourself to check out this new service," said Jim Kemp of PhonChek. "Unlike conventional check verifications programs that can take weeks to process, customer payments are deposited to the business' account within 24 hours."
 The PhonChek System allows businesses to tap into the huge market of consumers already targeted by their advertising dollars who can't become customers simply because they don't have a credit card, Kemp said. Estimates are that up to half of the buying public does not own or use credit cards.
 PhonChek uses an advanced computer network to receive customer personal data and bank account information and interpret and verify the information, including the availability of funds in the account.
 Upon verification, a pre-authorized check made payable to the client is printed and automatically deposited into the client's bank account within 24 hours. Only orders with verified payments are then processed by the client.
 Kemp foresees the PhonChek system as a necessity for direct response advertisers, debit cards, catalog sales, car rental companies, airlines, travel agents, all types of ticketing agents -- any business that takes payment over the phone.
 "For the business, it's as easy as accepting a credit card. For the customer, it's as easy as using one," he said.
 PhonChek's electronic banking software provides safeguards for both the client and the customer that cannot be achieved with payment by credit card, Kemp said. Unlike credit cards, checking account information cannot be processed without the banking information properly interpreted with the appropriate software to create a valid check.
 Businesses may obtain further information by calling PhonChek at 800-257-4940 or faxing PhonChek, Attn: Jim Kemp, 502-827-3050.
 -0- 11~20~92 R
 ~EDITOR'S NOTE: PhonChek is available for interviews.~
 ~CONTACT: Jim Kemp of PhonChek, 800-257-4940~


CO: PhonChek ST: California IN: TLS SU: PDT

JL-JB -- LAFNS2 -- 2716 12~02~92 07:34 EST
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Publication:PR Newswire
Date:Nov 30, 1992
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