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Solutran to Provide Returned Check Services to Kroger; Emerging Technology Helps Reinvent Check Collections.

Business Editors & Technology Writers

MINNEAPOLIS--(BUSINESS WIRE)--May 15, 2002

Solutran(R), a leading provider of payment processing services, announced today that it has been selected by The Kroger Co. to provide comprehensive returned check management services.

"Retail companies across the country are adopting new technologies to enhance their returned check and risk management systems," said Solutran President and CEO, Joseph Keller. "Solutran's systems are built on the backbone of the banking system and are delivering significant savings, improving cash flow, and helping corporations generate new revenue."

Emerging conversion technology has caused a fundamental shift in the payments industry and is changing how checks get collected. Services such as returns consolidation, RCK and service fee recovery significantly reduce the number of checks going to collections and improve the retailer's cash flow.

About Solutran

Solutran is a provider of turnkey treasury management services for clients nationwide that process a high volume of consumer payments. Clients include large companies in the consumer products, publishing, direct marketing, and retail industries. Solutran's customized solutions include returned check services, complete Internet-based functionality, electronic commerce, electronic conversion, disbursement and depository services, and alternative checking applications. Headquartered in Minneapolis, Solutran has 65 employees at its corporate office and maintains relationships with ten affiliate processing centers across the United States and Canada. For more information, visit Solutran's web site at www.solutran.com or call 888.SOLUTRAN (888.765.8872).

About Kroger

Headquartered in Cincinnati, Ohio, Kroger is one of the nation's largest retail grocery chains. At the end of fiscal 2001, the company (either directly or through its subsidiaries) operated 2,418 supermarkets and multi-department stores in 32 states under approximately two dozen banners, including Kroger, Ralphs, Fred Meyer, Food 4 Less, King Soopers, Smith's, Fry's and Fry's Marketplace, Dillon, QFC and City Market. Kroger also operates 789 convenience stores, 427 fine jewelry stores, 227 supermarket fuel centers and 41 food-processing plants.
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Publication:Business Wire
Date:May 15, 2002
Words:315
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