Certegy Check Services Inc., a subsidiary of Certegy Inc., based in St. Petersburg, FL, has completed its acquisition of Accu Chek Inc. for $25 million in cash. Accu Chek of Tuscaloosa, AL, is a provider of third-party check collection services, generating approximately $9 million in annual revenue.
Certegy Check Services, formerly known as Equifax Check Solutions, is a provider of check risk management, authorization and loss prevention services to retailers, supermarkets, e-commerce, gaming and check cashing establishments worldwide. “The acquisition of Accu Chek is a great complement to our product offering and strengthens our core strategy of providing the most efficient and cost effective check acceptance solutions to our customers. The combination of Certegy’s risk management and Accu Chek’s check recovery systems provide a capability unmatched by any other service offering in the industry. We expect to derive considerable strategic benefits in the long term from this complementary business.” said Jeff Carbiener, senior vice president and group executive for Certegy Check Services.
Accu Chek, founded in 1989, primarily provides third-party check collection services to national retailers, and also licenses its system to those who wish to maintain collection operations in-house. Its collection process includes automated skip tracing, client-specific process flexibility and image web-based reporting.
Certegy provides credit, debit and merchant card processing, e-banking, check risk management and check cashing services to financial institutions and merchants worldwide.
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