Products: PayIt and Cash It Payment Solutions

Company: TeleCheck Services, Inc.

Small businesses can often benefit from the same products that give larger companies a competitive edge. Two payment solutions recently introduced by First Data Corp.'s TeleCheck subsidiary will offer increased options to a range of retailers and merchants when they conduct transactions with customers who pay with checks.

TeleCheck's PayIt service is an accounts receivable conversion (ARC) solution. It allows merchants who accept mailed check payments or checks via a drop-box to convert those payments into electronic transactions; it also speeds up the processing and settlement of remittance payments.

Large companies that receive check payments by mail use similar services. The PayIt solution makes the same functionality available to small- to mid-sized businesses such as day care centers, educational and storage facilities, or those that accept membership fees or dues.

Using the PayIt service running on Eclipse terminals, consumer checks are processed through the Automated Clearing House (ACH) as electronic conversions. The solution is also appropriate for a range of consumer-not-present situations including mailed-in, dropped-off, lockbox and drop-box payments for goods and services.

TeleCheck's Cash It service enables grocery and convenience stores, pawn shops, other retailers and non-bank merchants to safely cash their customers' payroll, government and personal checks.

Cash It provides these merchants with access to TeleCheck's sophisticated check approval system, including a database the company maintains containing 78 million negative records. Cash It can be integrated into existing systems in large or multiple-location POS environments; the preferred terminal for new set-ups or single locations is the Eclipse.

The Cash It service leverages TeleCheck's enhanced, state-of-the-art, proprietary risk management tools to extend check cashing capabilities to businesses with a high exposure to fraud. These merchants are able to cash more checks with greater confidence because the checks can be either verified or backed by TeleCheck's optional warranty service.

TeleCheck Services, Inc.,a First Data Corp. subsidiary

5251 Westheimer

Houston, Texas 77056

www.telecheck.com