CheckAlt Surpasses $4 Billion Processing Milestone in 2013

LOS ANGELES, Jan. 21, 2014 /PRNewswire/ -- CheckAlt, a Check21 application company, finished the year with over $4 billion dollars in processed transactions for 2013, continuing to gain momentum in the payments and financial services industry by improving the way banks, credit unions, and merchants accept and process paper checks and eChecks.

"Demand for check processing efficiencies remains high," explains CheckAlt CEO Shai Stern.  "Furthermore, the applications of Check21 in eCommerce such as our MagCheck application, guaranteed bill and invoice payment through Zipmark, and mobile commerce through Doublebeam have further validated our thesis of the value of Check21."

The exponential growth in smart phones alone is changing the way customers interact with their financial institutions and pay for goods and services. A strong mobile platform and integrated payments experience is critical to both traditional and online businesses. For financial institutions, it can often be a key deciding factor on whether a customer switches banks. With branch convenience being critical for most, mobile and RDC brings the bank's branch directly into the hands of the customer - anytime, anywhere.    

CheckAlt's mobile and eCommerce solutions integrate seamlessly with a merchant's or bank's existing mobile application, enabling their customers to deposit or make a payment directly from their mobile device or mobile wallet using an electronic check, or eCheck. This provides a lower cost, more secure, and faster processing alternative to ACH or card-based payments. 

Each year over 25 billion checks are processed in the U.S. alone. This presents continued opportunity to drive efficiencies in how checks are processed, and expand the Check21 applications available to banks and merchants to help them improve their customers' experience across digital and traditional channels, while lowering their processing and transaction costs. 

To learn more about Check21 applications from CheckAlt, visit www.checkalt.com.

About CheckAlt
CheckAlt is a Check21 application company providing Remote Deposit Capture (RDC), eCheck services, and mobile payments. CheckAlt's clients include banks, credit unions, check cashers and MSBs (money service businesses), insurance companies, municipalities, utilities, and small and medium-sized enterprises.

CheckAlt delivers x9.37/ICL files to 200 + financial institutions daily and possesses the most robust integration tools in the industry. CheckAlt is the fastest way to move money with data.

SOURCE CheckAlt