AcuPrint Technology and Wells Fargo Bank Enter Positive Pay Referral Agreement
AcuPrint Technology's Positive Pay Software, SecurePay, Enables Wells Fargo Clients Easy Adoption of Positive Pay Services that Stop Check Fraud
Press Release
CARLSBAD, Calif. & SAN FRANCISCO--(BUSINESS WIRE)-- Sept. 5, 2002--
AcuPrint Technology, an industry leader in secure payment transaction solutions, and Wells Fargo, an industry leader in electronic banking solutions, recently announced the signing of a positive pay referral agreement.
Per the agreement, AcuPrint Technology will provide its SecurePay software solution to Wells Fargo commercial clients at a reduced licensing fee. Wells Fargo will refer their commercial clients to the SecurePay solution, which will enable them to implement and participate in the positive pay process.
Due to the increased incidences of fraud nationwide, Wells Fargo's positive pay services are becoming increasingly important to commercial clients. For many clients, positive pay software, such as the SecurePay product offered by AcuPrint, is an inexpensive and easy alternative to the intricate and time consuming programming required for their systems to transmit check register file information to the bank.
Positive pay partners banks and their clients by creating one of the strongest defenses available to prevent check fraud. The positive pay process exchanges check data between the client and their bank before checks are released for payment. When presented, checks are matched with the positive pay data so that fraudulent discrepancies may be identified prior to posting.
"SecurePay was selected as one of our positive pay resources because of its easy integration into our client's current operating systems and environments," said Justin Freeman, vice president treasury product management, Wells Fargo. "Our clients have diverse and multi-layered software, hardware and operating environments and often require a custom solution to complete the implementation process. The implementation team at AcuPrint has consistently demonstrated their ability to quickly assess our clients' environment and complete the installation quickly and efficiently, saving our customers valuable time and money."
AcuPrint's SecurePay software can be used in conjunction with Wells Fargo's ARP Register Maintenance and Image Positive Pay services available on the Internet through the Commercial Electronic Office portal.
"We are always looking for new solutions to prevent fraud and reduce our clients' costs, and are pleased with our clients' response to the SecurePay product. Implementing the SecurePay product has been a positive experience for the clients and they appreciate its ease of use," said Freeman.
About Wells Fargo
Wells Fargo is a $312 billion diversified financial services company that has been providing banking, insurance, investments, mortgage and consumer finance solutions for 150 years. Their tradition of customer service has led to a current network of more than 5,400 stores, the world's leading Internet banking site (www.wellsfargo.com) and other distribution channels across North America and the world. As a leader in Internet banking, Wells Fargo provides many commercial services online through their Commercial Electronic Office(SM) (CEO(SM)) business portal. To harness the power of the Internet and find out what Wells Fargo's CEO portal can do for your business, log on to http://www.wellsfargo.com/com/ceo
About AP Technology
Headquartered in Carlsbad, California, AP Technology is a pioneer in MICR laser check printing and holds several technology patents. AP Technology develops leading solutions for MICR laser check printing, positive pay, and secure conversion, normalization and exchange of cash management data and information. AP solutions are connecting banks and businesses for automated, secure, cost-effective, and personalized data exchange.
Established in 1989, AP Technology is a founding member of the elite Hewlett Packard PSP (Primary Solutions Partner) group, and has positive pay partnerships with the majority of the nation's leading banks. For more information on the company's business-banking connectivity and check printing solutions, visit www.aptechnology.com.
Contact Information:
Jessica Andrews
Public Relations Contact
AP Technology
Phone: 760-602-5424
Fax: 760-930-6281
Email: jandrews@acuprint.com
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