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RDM Corporation Announces Deal with Electronic Check Services
PR Newswire, July 14, 2008
Electronic Check Services enters agreement to resell RDM's Image and Transaction Management System (ITMS(R)) suite of electronic check conversion software products including Simply Deposit(TM)
Toronto Stock Exchange Symbol: RC
WATERLOO, ON, July 14 /PRNewswire-FirstCall/ -- RDM Corporation (TSX: RC), a leading developer of specialized software and hardware products for electronic payment processing, announced today that it has teamed with Electronic Check Services (ECS) to resell RDM's electronic check conversion software and hardware products. ECS will now be able to provide remote deposit capture capabilities to its existing and potential customers enabling them to electronically deposit checks. The RDM software is bank agnostic so merchants will not be required to change their existing banking relationships.
"We are very pleased to be working with ECS to sell our Remote Deposit Capture (RDC) products through the ISO sales channel," said Douglas Newman, President and Chief Executive Officer of RDM Corporation. "ECS is a rapidly growing firm and we look forward to assisting them in servicing their existing customers as well as in securing new business with our industry leading products. We believe our new Simply Deposit(TM) product that was designed specifically for small business will be especially well received." Newman further stated, "RDM is uniquely positioned to be able to provide an end to end check electronification platform as we can provide both the hardware and software required."
Derron Winfrey, President ECS said, "We are working closely with RDM to add a full service element for our customers. Our programming teams are completing an interface allowing us to showcase our ACH abilities as well as interfacing with our proprietary National Database and three stage collections process. Utilizing RDM's ability to capture and process items from the back office combined with ECS's abilities in database customization and check recovery will give our merchants a complete check conversion system. Offering Remote Deposit Capture will not only allow them to electronically deposit checks without needing to go to the bank branch to make a deposit, but provide them with complete recovery management for items that do not clear upon the initial presentment. This will save them time and money and give them faster availability of funds from those deposits."
About RDM Corporation
RDM Corporation is headquartered in Waterloo, Ontario and trades on the Toronto Stock Exchange under the symbol RC. RDM is a leading provider of specialized software and hardware products for electronic payment processing. RDM has pioneered electronic check conversion systems and web based image and transaction management services for banks, retailers, payment processors and government agencies as well as print quality control and image quality systems for a variety of global customers. For further information, visit RDM's website at http://www.rdmcorp.com/.
About Electronic Check Services
Electronic Check Services, Inc was established in 1997 in Springfield, Missouri as a privately held corporation, which it remains today. ECS provides the latest in Check Processing, Prepaid Services, Bill Payment, Gift Card and Loyalty programs to thousands of retail locations Nationwide.
ECS boasts a tremendous point of sale program. ECS allows the unique ability to provide Check Processing, Prepaid, Bill Payment, Gift Cards and Loyalty in not just one terminal but one program making this program very exciting and extremely profitable for their merchants and their ISO channel. This powerful, yet easy to use program creates the bottom line results the industry has been waiting for. For further information, visit Electronic Check Services Web site at http://www.electroniccheckservices.com/.
This news release contains forward-looking statements. Forward-looking statements are based on estimates and assumptions made by RDM in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that RDM believes are appropriate in the circumstances. Many factors could cause RDM's actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements. Risk factors relating to RDM are discussed in the Risks and Uncertainties section of RDM's Annual Information Form and year-end Management's Discussion and Analysis. These factors should be considered carefully, and readers should not place undue reliance on RDM's forward-looking statements. RDM has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Douglas Newman, President & CEO, RDM Corporation, (519) 746-8483, (519) 746-3317 fax, dnewman@rdmcorp.com; James Merwin, Chief Financial Officer, RDM Corporation, (519) 746-8483, (519) 746-3317 fax, jmerwin@rdmcorp.com
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