ATLANTA--(BUSINESS WIRE)--Jan. 30, 2006--NOVA Information Systems
(NOVA), a wholly owned subsidiary of U.S. Bancorp (NYSE:USB), today
announced that it has enhanced its Electronic Check Service (ECS)
product line to support business checks as well as consumer checks.
The service now electronically converts just about all checks
presented in person or through the mail into electronic items for
processing. With the enhancement of business check support, NOVA is
the only electronic check service provider to utilize three processing
methods for checks: direct DDA access, ACH processing, and Image
Replacement Documents (IRD's), which utilize Check 21 processing
rules.
The employees of Bill Ussery Motors, Inc., a leading Mercedes-Benz
dealership in Miami, Florida, find ECS easy to use. "With ECS, we can
run every check through the same system we use for credit card
processing," said Ronit Canet, director of accounting & finance, Bill
Ussery Motors. "Plus, we have peace of mind in knowing that funds are
guaranteed for every consumer and business check approved by the
system, and that we only have one company to deal with for all of our
payment processing needs."
"The ability to support all checks presented any way means that
merchants no longer need to support parallel processing methods for
different types of checks," said Amy Gutierrez, vice president,
business development, NOVA. "Check deposit slips are eliminated and
cash flow is improved, since merchants receive funding within 24-48
hours."
NOVA's ECS service is supported on the same terminals, software,
and VAR interfaces used for its credit card processing services. The
service utilizes imaging technology, and NOVA's transaction network
seamlessly chooses the appropriate processing method based on the type
of check presented. All consumer and business checks can be
electronically imaged, routed, converted and deposited. Merchants can
choose a variety of risk management services: guarantee, verification,
collections, or conversion only. The service was initially introduced
in 2003 to support consumer checks, and NOVA now has over 6,500
merchant locations up and running.
About NOVA
NOVA Information Systems, a leader in the payment processing
industry is a wholly owned subsidiary of U.S. Bancorp (NYSE:USB).
Combined, NOVA and its affiliate euroConex provide global merchant
processing services to financial institutions and customers in the
United States, Canada, and Europe. NOVA offers integrated payment
processing services to more than 800,000 merchants. For more
information visit www.novainfo.com.
CONTACT: NOVA Information Systems
Michelle Graff, 678-731-5064
michelle.graff@novainfo.com
SOURCE: NOVA Information Systems
