US Dataworks and JPMorgan Chase Expand Relationship
Today, Dec 2004
Recent changes in the National Automated Clearing House (NACHA www.nacha.org), rules coupled with the passage into law of Check 21 now make it possible for banks, retailers and billers to electronically process paper checks and all other forms of payments. The transition to electronic processing is expected to create greater efficiencies and immediate cost savings for the retail and remittance industries.
In response to these changes, payment processing software developer US Dataworks (www.usdataworks.com), has entered into a marketing agreement with JPMorgan Chase, to jointly offer an Accounts Receivable Conversion (ARC) processing solution. This follows an earlier announcement from JPMorgan Chase (www.jpmorgan.com), in which the company stated that it was launching an ARC processing solution, developed in part by US Dataworks, that enables retailers and billers to covert paper checks into electronic transactions.
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