ECHO introduces TeleMerchant processing system

Business Wire, Oct 7, 1996

AGOURA HILLS, Calif.--(BUSINESS EDITORS)--Oct. 7, 1996--In keeping with its objective of making it as easy as possible for merchants to electronically process financial transactions, Electronic Clearing House Inc. (NASDAQ:ECHO) announced the introduction of the ECHO TeleMerchant Processing System.

"ECHO's TeleMerchant Processing System allows merchants to submit credit card transactions through ECHO anywhere, anytime, from any touch-tome phone," said Larry Thomas, senior vice president of ECHO.

This capability permits merchants to validate cardholders' billing addresses, perform authorizations and accept payment for service or merchandise at locations where it many not be convenient, possible, or affordable to use conventional POS equipment, utilizing a self-guiding Interactive Voice Response technology.

"Our goal is to help our merchants succeed by providing them leading edge technological and operational support services in the context of their financial transactions," said Thomas. "ECHO's TeleMerchant Processing System is part of ECHO's continuing focus on providing first class service for the merchant."

Electronic Clearing House provides credit card processing, check guarantee and various Internet services to retail merchants, as well as banks and other financial institutions. Through a subsidiary, Computer Based Controls, ECHO designs, develops and manufactures software and point-of-sale hardware that is utilized as credit card processing terminals, automated money order dispensers, utility bill payment systems, and inventory tracking devices.

CONTACT: Electronic Clearing House Inc., Agoura Hills

Donna Camras, 818/706-8999, ext. 3033

E-mail: dcamras@echo-inc.com

URL: http://www.echo-inc.com