CrossCheck Realized 47% Growth in 1995
CrossCheck Realized 47% Growth in 1995 CrossCheck Inc., one of the nation's largest Check Guarantee companies, reported a second year of record increases in growth. CrossCheck reported a 46.6% increase over the prior year.
"It's no joke, CrossCheck is setting all time highs in Check Volume. Given the growth we have experienced during the fourth quarter of 1995, we can conservatively estimate that the value of checks that CrossCheck will handle in 1996 will be $189 million more than we handled in 1995, and that's before the year even begins. Volume increased nearly 47% during 1995, and CrossCheck's dominate position in New Car Sales and the Auto After Market, is driving this growth," says Bob Ficarra, CrossCheck's chief marketing officer.
"Many other Check Approval services believe the best way to reduce the number of bad checks their merchants receive is to DECLINE every check that they think may have the slightest amount of risk. Not us! At CrossCheck,
we eliminate bad check worries too, but we eliminate far fewer sales opportunities, because
we simply approve more checks than anyone else," says Bob.
"Nearly half of the 1995 growth came from Auto and Auto After market. We believe that this is because we have developed several features in our Auto and Truck Dealer program that not only make it easier to accept checks, but help dealers overcome objections when closing a sale:
Multiple Check is the first. A dealer can approve up to 4 checks for a down payment, and take up to 30 days to deposit them. CrossCheck was the first to do this, and remains the most aggressive.
Next is
Stop Payment coverage. Many of our competitors offer Stop Payment coverage, however, they often exclude disputes. Since most stop payments are disputes, we cover all stop payments. In addition we have a
$600 minimum Floor Plan. No phone calls are necessary for checks under this level and customers can get through the payment process quickly," said Bob.
Michelle Schmitz, CrossCheck AVP, and Manager of CrossCheck's National Independent Sales Organization says, "We are very pleased with our 1995 sales results, and our National Auto Market expansion. We appreciate the opportunity to see many of our friends and customers, in our Booth (696) at the National Automobile Dealers Association."
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