Payteller selects CheckAlt for check-cashing solution
BOCA RATON, FL (September 30, 2013) — Payteller, LLC, the creators of the Payteller™ financial services kiosk, announced today that they have selected CheckAlt, the leaders and pioneers in advanced Check 21 technology, to introduce a new service to the Payteller™: CheckAlt’s Remote Deposit Capture (RDC) solution.
The Payteller™ offers prepaid cellular phone top-up, international long distance and bill pay, with features such as money transfer, prepaid debit card loading and prepaid debit card issuance coming in the near future.
CheckAlt is known globally for their checking solutions such as eChecks, an alternative to paper checks, and their RDC solution. CheckAlt currently delivers to hundreds of financial institutions daily in multiple image cash letter formats.
By utilizing CheckAlt’s RDC for check cashing, the Payteller™ will create a higher level of traffic for merchants. The Payteller™ with RDC will be ideal for banks, credit unions, check-cashing stores, convenience stores and grocery stores. The fact that CheckAlt can work with any bank or financial institution makes them the ideal partners for Payteller in this endeavor.
“Check cashing is the obvious next step for the Payteller, just as CheckAlt was the obvious partner,” said Jeff Foster, CEO of Payteller LLC. “Considering that over $58 billion in checks are cashed annually by nonbank financial services companies, coupled with rising costs for retail space, personnel and infrastructure, the market for self-service check cashing is nearly unlimited. When we add CheckAlt’s market leading Check 21 technology to bill payment, cell phone top-up, long distance sales and the rest of our services on the Payteller™, it is a win win win for our distributors and merchants.”
“We are excited to be selected by Payteller and to be in business with such a quality organization. Our mission at CheckAlt is to show the widespread applications of Check 21. We are very much looking forward to sharing our value and expertise with Payteller and their clients,” added Shai Stern, CEO of CheckAlt.
Payteller is focused on bringing time and cost-effective financial services to the unbanked and underbanked populations of the world. The Payteller™ merges best of breed technologies to reduce transaction time and cost while maximizing revenue, profit and loyalty with telecom top up, international long distance, bill payment, Check21 services, prepaid card issuing, prepaid card loading, remittance, advertising, virtual gift cards and more. Payteller™ kiosks are available for purchase or lease to qualified merchants throughout the Americas
CheckAlt is a Check 21 application company providing Remote Deposit Capture (RDC), eCheck services, and mobile payments. CheckAlt’s clients include banks, credit unions, check cashers and MSBs (money service businesses), insurance companies, municipalities, utilities, and small and medium-sized enterprises. CheckAlt delivers x9.37/ICL files to 250 + financial institutions daily and possesses the most robust integration tools in the industry. CheckAlt is the fastest way to move money with data.