New things are always happening at Checkmatic

Celebrating Six Years This December

What's new at CheckMatic

October 07, 2005

Due to the recent lawsuits by Data Treasury against several major banks and the settlement of the banks with Data Treasury we will not be offerring the Check 21 solution any time in the near future. However, NACHA has put the back office conversion on a fast track for converting checks in a way similar to ARC transactions are being done now. This process does not infringe on the patents that Data Treasury has for creating images and transporting to other institutions for processing since only the MICR information is transmitted for processing. We will have the solution ready for the expected release of the rules in March 2006. The vote by NACHA is reportedly going to take place in November 2005. We will continue to maintain images of checks for seven years as required by NACHA rules. The patent suits are aimed at banks and other third party processors that are using the process for the Check 21 law passed by president Bush in October 2004. The images we maintain are not transported to other institutions, agencies or other entities or used in the processing of RCK, ARC or POP transactons. We also do not provide archiving services for other companies. All of our images are created in house and remain on our servers in house in order to remain compliant with NACHA rules and not violate the patents held by Data Recovery.

September 26, 2005

We have made it through hurricane Rita and everything is up and running 100%.

June 14, 2005

Installation of our second T-1 is now complete. This is another step in our committment to provide the best possible service to our clients.

June 01, 2005

Checkmatic welcomes Danielle Newberry to our sales staff. Danielle will handle sales in Houston and surrounding areas. With the acquisition of ACH Commerce by Moneygram we will start taking payments on our site from check writers by the end of this year. This further inhances our committment to provide the best possible service to our clients and make it easier for thier customers to make payments from the comfort of their home computer.

March 25, 2005

The completion of our new SQL data base version of our check collection software is now in BETA testing. The official release date has not been established yet but it should be early to mid summer. Contact us for information on the new robust features included. Checkmatic also welcomes Mary Bradfute to our staff. Mary brings with her over eight years experience with Compaq computers.

December 11, 2004

This month we celebrate our fifth year in business. You can continue to expect even more changes in 2005. With new partnerships formed in 2004 and more to come in 2005, we will continue to integrate the most up to date technology into our business. This means that our clients will continue to enjoy the best products and services available anywhere. We have added another in house server this month to be prepared for our future growth even though our current server is at only 20% of capacity. We have also expanded our warehouse to accommodate our growing credit card equipment division. It has always been our philosophy to prepare for the future instead of playing catch up.

June 30, 2004

We will not be offering the ATM verification due to a flaw in the system. We have discovered when you use it will not tell you if there are enough funds in the account to cover a specified amount. If the account isit will only respond by telling you that it isand there is a positive balance. It could have 20.00 in the account and the check may be for 50.00. You will still get a positive response. It will tell you if the account has a negative balance also or if the account is closed or in the process of being closed. Since the average for returned checks is about 1% we don't feel that the cost of the system will be beneficial to our clients. We feel that our check verification is still the most cost effective system for reducing the number of returned checks that a merchant may receive.

May 1, 2004

Checkmatic will be moving into the new facilities at 5326 Spring Stuebner Rd  Spring, Tx 77389. Due to the rapid growth over the last two years the move is necessary. We will be making changes to our phone numbers and they will be posted on our sites May 2, 2004. The mailing address will stay the same. Additional personnel will be added in the coming months to accommodate the continuing growth we are experiencing. A dedicated shipping/receiving area has been added for our growth in the equipment sales.

April 22 2004

Checkmatic is working with one of our partners to bring ATM verification to our CheckMatic product line as well as our ECC products. ATM verification will allow us to verify the validity of a consumer account prior to exporting a transaction through the ACH.

March 30, 2004

Checkmatic now has the POS check conversion for the Verifone Omni 3750 complete. Currently we support the Omni 3750 without images but in about two weeks you will be able to send the image of the check to us as well as the data for the conversion. With the images attached we will be able to have all the information we need to start collections immediately after any checks come back unpaid. This is also our preferred check guarantee program for POS merchants such as convenience, grocery, fast food and other types of businesses. We are currently offering low volume businesses a free 30 day trial. You will not pay any transaction fees for the trial period. Please Contact Us if you would like to use this in your business to have Real Money in your account in two business days.

March 5, 2004

Checkmatic adds optional switch to MFS to export images along with the transaction information. These images will be stored for approximately 21 days from receipt. This allows for retrieval of data and images for placing in our collection system. This saves our clients the time and trouble of having to mail us the checks that were mailed to them. We would have the converted electronic transaction data and the image. For Point Of Sale (POS) transactions merchants that would no longer have the checks, this option would give us the check data such as customer name, address, etc to start collections immediately. The timely filing of a claim for guaranteed checks is now a thing of the past.

February 22, 2004

Checkmatic adds internet verification to the MFS application. Now you don't have to use any other equipment for POP, ARC, TEL or PPD transaction to verify first. You have reduced the cost of a separate phone line and additional equipment. The conversion product with the Omni 3750 is in BETA testing and should be ready by the end of the month if all goes well. Preliminary testing in house has gone very well.

February 12, 2004

Checkmatic introduces a multi functional software (MFS). This new software can perform POP, ARC, PPD and TEL transactions. Businesses such as utilities, cable, security and other businesses that receive checks at a counter, in the mail, over the phone or pre-authorized payments can now convert these payments into ACH transactions and have real funds in two business days. For POP and ARC transactions we can perform collections on returned items starting on the third business day at your request.

January 15, 2004

CheckMatic Lock Box software application is introduced. Businesses can reduce deposit fees and trips to the bank and high bank return fees. You can find out in 2-3 days if a check is going to bounce. Resubmitting checks and fees are just a matter of scanning the check again and adding another transaction for the return fee.

December 23, 2003

Checkmatic Express has been updated to include new help files and a link to our online reporting system. If you are using this software please update your software now.

CheckMatic Live is complete. Merchants can now use the consolidated return process, represent checks and fees and only pay a small fee to resubmit the check and fee up to two times. Call for pricing based on volume.

December 15, 2003

We have stopped work on the check conversion with the Nurit line. After several months, thousands of dollars and absolutely NO HELP from Lipman, we have turned to the Verifone line of equipment. It is doubtful that we will ever work with the Nurit line of terminals. Verifone has been more than helpful and we should have the check conversion ready for the Omni 3750 by the first of February 2004. We are working on special pricing for equipment to offer the best price possible for our merchants and independent offices. Eventually we will have most of the Verifone line of equipment supported. After that we will begin programming for the Hypercom line.

June 2003

Consolidated returns is introduced and can be used with or without our collection services. This new service can significantly reduce return fees that merchants are being charged by their bank.

May 2002

CheckMatic moves to their new offices in Conroe, TX. This new location gives Checkmatic room to grow. At this time a new server is purchased as well as complimenting work stations.

March 2002

CheckMatic now stocks and sells check readers and credit card machines at very competitive pricing.

January 2002

CheckMatic Express is introduced. The latest member of arsenal of CheckMatic collection products by CheckMatic. This version has several target markets including independent offices and small to medium sized merchants.

• Existing CheckMatic users can use CheckMatic Express to outsource their data entry to a location across town or across the country. Returned checks are entered into the software and then exported to the home office where CheckMatic collection software will import them and start the recovery process.
• CheckMatic ECR and above users can also distribute this new software to those hard-to-get accounts that just won't give up their checks for fear of loosing control of them. They want to pick and choose which checks they forward on for collection. Now they can and everybody turns up a winner. The store owner enters the checks he wants to send, selects the dates for the re-deposit attempt and even decides whether or not he wants to charge a return fee. He then exports the data to you. You import the data into your CheckMatic software and the rest is handled by your software's collection scenario. Collected money can be automatically credited into your clients account through an ACH credit and you can bill the client on a per item basis or by keeping or sharing the recovery fee.
• CheckMatic Express can be used to set up local processing centers around the country. Each independent office can keep a local presence while the actual processing of the checks is handled thousands of miles away.
• All checks are uploaded to our online reporting system daily for the independent offices and/or merchants to view the checks in the system.

December 2001

CheckMatic releases TelSoft, our ACH check-by-phone software. TelSoft is accompanied by a new web based reporting tool that allows the user to see percentages of cleared items, administrative and NSF returns, rolling reserves and daily settlements into their accounts.

October 2001

CheckMatic users can now offer their clients 24/7 access to their data via the Internet. Check verification reports are also available now. With our new iNet check verification software, merchants can now get a response in less than one second instead of the 6-10 seconds it has taken with dial up service.

August 2001

CheckMatic is nearing completion of its web based reporting. Users of our CheckMatic software will soon be able to give their clients web based access to their data, as well as to do one time ACH transactions. Also on the list of soon-to-be-available services is our Internet based check verification. Merchants with full time Internet connections will be able to do real time check verification.

July 2001

CheckMatic now sells their check collection software products to new and existing collection agencies. This expands the verification system by users reporting returned checks to our data base from a nationwide network of collection agencies.

April 2001

CheckMatic introduces the Business Professional check drafting software. The professional version up an opportunity for service bureaus to provide check drafting services to merchants and business with multiple company names to use one software for all of their companies.

August 2000

CheckMatic adds ACH processing to their product line. This up ACH services to small businesses that have a need for one time or recurring debits.

June 2000

CheckMatic begins providing complete check collection services. This includes RCK and traditional collections. This is our first RCK and traditional check collection software. Testing has gone very well and our software is in full use now.

March 2000

CheckMatic introduces the check by phone draft printing software. Business can now take checks by phone, fax and online just like credit cards.

December 1999

CheckMatic is formed to develop software for use in check drafting and collection services.

Questions regarding our NSF check collection, NSF check processing opportunity, or our CheckMatic recovery software, should be directed to Chris Tipton. Minimum system requirements are 500 MgHz computer, 128 Mg Ram, 20 Gig Hard Drive, Internet Access and a Printer. You may encounter problems if using a proxy server for communication with the Internet.

Updated
Information subject to change without notice