U.S. Bank Expands Offering to Business Customers: AcuPrint Technology's Check Fraud Protection Software
Press Release
MINNEAPOLIS (March 12, 2003) - U.S. Bank and AcuPrint Technology, an industry leader in secure payment transaction solutions, have teamed up to offer U.S. Bank business customers SecurePay, AcuPrint's positive pay solution for check fraud protection. SecurePay is designed to work with a customer's accounting software to create a check issue file (a list of checks being disbursed for payment) to be sent to U.S. Bank. SecurePay was offered by U.S. Bank in some of its markets in 2002. U.S. Bank now offers SecurePay in its entire 24-state footprint. AcuPrint assists U.S. Bank customers in the implementation of the positive pay solution.
The positive pay process exchanges check data between the customer and its bank before checks are released for payment. When presented, checks are matched with the positive pay data and identified for possible fraudulent discrepancies. Positive pay is an essential component for businesses to protect themselves from check fraud.
"We are pleased to be able to offer this simple, yet effective positive pay solution to our business customers," stated Michele Johnson, U.S. Bank vice president of product management. "Positive pay requires that the customer create an issue file and transmit it to U.S. Bank. We wanted to find a solution that would simplify and automate this process. Some of our customers do not have technical support staffs that can develop and maintain this process. AcuPrint's SecurePay successfully accomplishes all of these requirements, and its customer support staff insures that our customers have a satisfying experience during the installation."
"We are delighted to have U.S. Bank offer the SecurePay solution to their business customers," said Donovan Perkins, senior vice president of business development for AcuPrint Technology. "SecurePay is designed to be a universal stand-alone positive pay file creation and transmission solution. Therefore, no other software is needed to complete the process. This allows SecurePay to be easily installed without businesses having to rely upon their Information Technology (IT) department for assistance. Additionally, SecurePay adapts to fit the needs of U.S. Bank treasury management services, and most importantly, aids in deterring check fraud."
About U.S. Bank
U.S. Bancorp (NYSE: USB), with assets in excess of $180 billion, is the 8th largest financial services holding company in the United States. The company operates 2,142 banking offices and 4,604 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is home of the Five Star Service Guarantee which assures customers of certain key banking benefits and services or customers will be paid for their inconvenience. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at www.usbank.com.
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.
AcuPrint is a registered trademark, and SecureCheck and SecurePay are trademarks, of AcuPrint, Inc.
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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