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New things are always happening at
Checkmatic
ATM Verification Cancelled
What's new at CheckMatic
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 is open it will only respond by telling you that it is open and 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. This is not offered with Checkmatic Express.
CheckMatic adds TelSoft and CheckMatic Express to the independent office list of special benefits. Call for special pricing
if you are one of our independent offices. To view a partial list of contributors to the Star® Network
Click Here. This is not a complete list and it is growing all the time.
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 two new servers are
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 opens 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 opens
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 05-01-2004
Information subject to change
without notice
Privacy Policy:
Customer data is used for internal
purposes only.
It is not shared or sold.
Customer may receive E-mail from
the company.
Checkmatic Recovery Systems
P O Box 130021
The Woodlands, Tx. 77393-0021
Phone: 281-288-5450
Fax: 281-288-5848
Toll Free: 866-488-2300
Checkmatic and the Checkmatic Logos are the Trade Marks of CRS.
©
1999-2004 Checkmatic Recovery Systems.
All Rights Reserved. Copyright©
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