21 August 2017
visit www.avoka.com

Fiserv acquires CheckAgain

19 October 2004  |  4035 views  |  0 zeroes

Financial transaction processing firm Fiserv has acquired CheckAgain a provider of electronic cheque re-presentment services, for an undisclosed sum.

CheckAgain uses automated clearinghouse (ACH) transactions to electronically re-present returned cheques, primarily for major retailers. The company has developed a proprietary system for electronically recovering cheques that were returned because of insufficient funds.

Mark Damico, president of the Fiserv item processing group, says the acqusition has the potential for expanding the company's business into a complementary market.

"The vast majority of returned cheques are still processed using paper," he says. "However, as cheques continue to decline in volume and as more cheques move toward electronic processing, we can provide our clients a very valuable service by offering electronic processing of returned cheques through CheckAgain."

CheckAgain is based in Herndon, Va., and provides services to more than 400 clients. The company's employees, including chief operating officer Don Bauernfeind, are expected to join Fiserv.

Fiserv, already the third-largest processor of cheques in the US, says the acquisition will contribute approximately $15 million in annualised revenues.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Metavante looks to imaging with Vectorsgi acquisition

Metavante looks to imaging with Vectorsgi acquisition

15 October 2004  |  4090 views  |  0 comments
Fiserv's Muma to step down

Fiserv's Muma to step down

05 October 2004  |  3435 views  |  0 comments
Fiserv buys Results International Systems

Fiserv buys Results International Systems

01 September 2004  |  3924 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.abe-eba.euvisit www.worldpaymentsreport.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
10588 views comments | 24 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
8843 views comments | 19 tweets | 23 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
8834 views 0 | 4 tweets | 1 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
8507 views comments | 10 tweets | 7 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
8198 views comments | 18 tweets | 16 linkedin

Featured job

London, UK (or flexible)

Find your next job