20 October 2017
visit www.avoka.com

Fiserv acquires CheckAgain

19 October 2004  |  4086 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  |  4125 views  |  0 comments
Fiserv's Muma to step down

Fiserv's Muma to step down

05 October 2004  |  3471 views  |  0 comments
Fiserv buys Results International Systems

Fiserv buys Results International Systems

01 September 2004  |  3970 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.capgemini.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
16072 views comments | 12 tweets | 4 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8316 views comments | 13 tweets | 10 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
7879 views comments | 21 tweets | 26 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7304 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
6635 views comments | 10 tweets | 21 linkedin

Featured job

Find your next job