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Certegy’s Internet volume is about a third of its overall electronic check volume, Carbiener says, although as online shopping becomes more widespread, that percentage will grow. “This is one of our growth engines,” he says.
Yet bricks-and-mortar check processing will remain an important part of Certegy’s business. Certegy does business with hundreds of retail chains, including such major retailers as Sears Roebuck and Co., Kmart Corp., Circuit City Stores Inc. and Best Buy Inc. “We will continue to develop those solutions at the same time as we develop the Internet infrastructure,” Carbiener says. “The bottom line is that it’s the bricks-and-mortar implementation of these products that has allowed us to handle Internet volumes.”
In fact, Carbiener notes, offering check services across all channels improves the quality of data and authorizations in all. “Our historical experience in the bricks-and-mortar world is driving our success because we are able to leverage that expertise,” he says. “We don’t care how the transaction is delivered because there are similar risks in all transactions.”
He adds that Certegy’s breadth of experience also helps its retail clients. “We try to sign retailers for all channels-Internet, phone and retail,” he says, “because then each retailer gets a better picture of who its best customer is.”