RDM Corporation, a leading developer of specialized software and hardware products for electronic payment processing, announced today that it has introduced new functionality in its ITMS(R) WebClient and Simply Deposit(R) remote deposit capture applications that allows users to automatically update accounts receivable records in their accounting systems such as QuickBooks(R), with their electronic check deposits. This new module, called Apply Payments, allows for easy configuration, management and flexibility, while avoiding the hassle of double-keying check deposit information into a business's accounting package. Once checks have been scanned and electronically deposited, the end user can easily engage the Apply Payments feature to automatically apply individual checks to the appropriate invoice or receivable in the user's accounting package.
"The Apply Payments feature is a fantastic new tool for our customers," said Douglas Newman, President and CEO of RDM Corporation. "This new functionality adds to the overall value proposition of the ITMS suite of products by saving significant data entry time and reducing the number of transposition errors during keying. We continue to enhance our remote deposit capture products to improve their usability, efficiency and effectiveness."
The Apply Payments feature is a standard module in RDM's ITMS suite of products. RDM has developed a comprehensive suite of remote deposit capture software products which includes the ITMS WebClient for medium to large check volume customers, Simply Deposit for small check volume customers, Synergy Deposit for all-in-one RDC and card-based payments in retail applications, and Simply Deposit Mobile(TM) intended for mobile deposit applications. RDM also manufactures a wide range of industry leading single-feed digital imaging check scanners including the single-sided EC6000i(R) scanner series, the dual-sided EC7000i(R) series, the dual-sided EC7500i(TM) series of value scanners, the RDM SYNERGY II all-in-one payment terminal able to handle all non-cash payments and the recently introduced RDM Connect(TM) duplex, auto-feed scanner.
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 more information, visit RDM's website at www.rdmcorp.com
Apriva Introduces AprivaPay™ and AprivaPay™ Professional
Comprehensive Solutions Enable Mobile Merchants to Process Credit Card Payments Directly Through Mobile Phones, PDAs and Smartphones
Scottsdale, AZ January 19, 2010—Apriva, the leading wireless transactions and secure information solutions provider, has announced the availability of two wireless Point-of-Sale (POS) solutions designed specifically to serve the needs of mobile merchants. AprivaPay™ is a browser-based application that allows businesses to directly process credit card transactions through web-enabled mobile phones. AprivaPay™ Professional is a smartphone application that enables merchants to seamlessly transform their devices into full-featured credit card processing terminals. Both AprivaPay and AprivaPay Professional offer unprecedented reliability, flexibility and cost-efficiency, and exceed the most stringent security standards. They are available immediately through Apriva’s national network of distribution partners.
“Customers expect to pay for purchases in the method most convenient for them, regardless if they are in a store, at home, or at a remote site. More often than not, this translates into card-based payments,” explains Bill Clark, executive vice president, North America, of Apriva’s Point of Sale division. “AprivaPay and AprivaPay Professional continue Apriva’s longstanding ability to give merchants a simple and reliable method to accept and process credit card transactions in the field. Our latest solutions are easy to access, easy to use, and adhere to the strictest security standards in the industry. Most importantly, they allow mobile merchants to improve efficiency, reduce operating costs, and enhance customer service.”
Element Payment Services Partners with Trustwave for Level 4 PCI DSS Compliance Program
Element Payment Services, Inc.(Element), a PCI-compliant payment processing provider, has partnered with Trustwave to implement a Level 4 compliance program to help merchants achieve and maintain compliance with the Payment Card Industry Data Security Standard (PCI DSS). Trustwave is the leading provider of on-demand data security and payment card industry compliance management solutions to businesses and organizations throughout the world.
The PCI DSS is the payment card industry security requirement for entities that store, process or transmit cardholder data, and has been endorsed by all the major card brands – Visa Inc., MasterCard Worldwide, Discover Network, American Express and JCB. PCI Compliance Level 4 merchants are defined as those that process fewer than 20,000 e-commerce transactions and/or fewer than 1 million single card transactions per year.
Chapter 11 Filing Paves Way for Cynergy Acquisition by ComVest.
Cynergy Data today announced that it has voluntarily initiated proceedings under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court in Delaware and is pursuing a sale process under Section 363 of the Bankruptcy Code.
Cynergy Data has entered into an asset purchase agreement with “stalking horse” bidder Cynergy Holdings, LLC, an affiliate of The ComVest Group, a private investment firm focused on providing debt and equity solutions to middle market companies, to buy substantially all of the company’s assets. ComVest is a leading provider of capital to the financial technology markets and owns controlling interests in a number of companies in the electronic payment processing industry, including Pipeline Data, CardAccept, AirCharge, SecurePay and Northern Merchant Services. The asset sale is subject to an auction and Bankruptcy Court approval.
The sale process is expected to enable a sale of the business to ComVest or any higher and better bidder approved by the bankruptcy court on an accelerated basis, thereby creating a financially stronger business entity with less debt and more economies of scale that is better positioned for the future. Cynergy Data expects to complete the sale process in 90 days or less.
Cynergy Data’s operations are open and the company is providing uninterrupted services to its network of independent sales organizations (“ISOs”) and merchants during its restructuring and sale process. The company plans to conduct business as usual through the process and has asked for court approval to continue paying vendors, employees, ISOs and merchants in the ordinary course. At the conclusion of the bankruptcy sale process, Cynergy Data will emerge as a dynamic standalone company that will receive strong financial backing from ComVest.
Payment industry veteran Jay Reeve has announced the formation of a new law firm, The Reeve Law Firm, PC.
Reeve spent the last 9 years as a Senior Attorney and Associate General Counsel for Chase Paymentech Solutions in Dallas, Texas. Reeve has extensive experience in the payments industry and was responsible for the legal oversight of Chase Paymentech’s strategic partner channel.
The Reeve Law Firm, PC 268 S. Gun Barrel Lane Gun Barrel City, Texas 75156 903-887-0602 903-887-0941 (Fax)
