US Dataworks Broadens Clearingworks(TM) Functionality and Introduces Distributive Capture Capabilities at PAYMENTS 2005
April 11 2005 - 11:00AM
PR Newswire (US)
US Dataworks Broadens Clearingworks(TM) Functionality and
Introduces Distributive Capture Capabilities at PAYMENTS 2005
HOUSTON, April 11 /PRNewswire-FirstCall/ -- US Dataworks, Inc.
(AMEX:UDW), a leading developer of payment processing software,
introduced today Distributive Capture, a revolutionary new payment
processing capability that further enhances Clearingworks(TM), the
company's integrated electronic payment processing platform.
Clearingworks' Distributive Capture allows banks, retailers and
corporate users to digitally capture both the image and data of
checks received at remote branches or locations. The data and image
are then able to be retrieved electronically by a central bank or
corporate accounts receivable department for clearing thus
eliminating the need to physically transport checks to a central
bank or lockbox site for deposit. Clearingworks' Distributive
Capture meets the various requirements of banks, retailers and
corporate users. The new software solution is capable of handling
Bank Branch Capture, Point of Purchase Conversion, Back Office
Conversion, Corporate Deposit Capture, and Distributive Remittance
Payment Conversion. Unlike other remote capture products currently
in the market, Clearingworks' Distributive Capture uses US
Dataworks' proprietary real-time web enablement functionality to
provide remote, secure, web-based data capture, access, and entry
capabilities from anywhere and at anytime. By providing remote and
real-time access to electronic files through the worldwide web, US
Dataworks can install its Clearingworks' Distributive Capture
solution at a user's centralized headquarters and allow the central
operation to retrieve payment data regularly from an unlimited
number of remote locations. In addition, rather than charging
licensing fees based on the number of remote sites using the
software, fees for Clearingworks' Distributive Capture are charged
through a simple and revolutionary, all inclusive price per
transaction model, thus requiring little or no up-front investment
from the user. "US Dataworks takes pride in often being the first
to market with innovative payment processing solutions," said Terry
Stepanik, president and COO of US Dataworks. "In this case however,
seeing what others were offering in the area of remote capture
provided us an advantage. With its unique features of real-time web
enablement and central site controls, we believe Clearingworks'
Distributive Capture provides users greater control and
flexibility." US Dataworks will demonstrate its Clearingworks'
Distributive Capture capabilities this week at the National
Automated Clearing House Association's (NACHA) PAYMENTS 2005
conference in San Antonio. (Booth #137) Recent changes in the NACHA
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 of payments, via Automated Clearing House
(ACH) or Check 21, is expected to create greater efficiencies and
immediate cost savings for the retail and remittance industries. US
Dataworks is a developer of payment processing solutions, focused
on the financial services market, federal, state and local
governments, billers and retailers. Software developed by US
Dataworks is designed to enable organizations to transition from
traditional paper-based payment and billing processes to electronic
solutions that automate end-to-end processes for accepting and
clearing checks. For more information, visit the company's website
at http://www.usdataworks.com/ . Except for the historical
information contained herein, the matters set forth in this press
release, including, but not limited to the perceived leading status
of our software solution, the elimination of any need for the
physical transport of all paper checks, the extent to which
Clearingworks meets the requirements of certain banks, retailers
and corporate users, and the extent to which licensees may retrieve
payment data from unlimited remote locations are forward-looking
statements within the meaning of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially, including, but
not limited to, the Company's position in the marketplace, our
ability to develop and timely introduce products that address
market demand, the impact of alternative technological advances and
competitive products, market fluctuations, our ability to obtain
future financing and other risks detailed from time to time in the
SEC reports of US Dataworks, Inc., including its annual report on
Form 10-KSB/A for the period ended March 31, 2004 and its quarterly
report on Form 10-QSB/A for the period ended December 31, 2004.
These forward-looking statements speak only as of the date hereof.
US Dataworks disclaims any obligation to update these
forward-looking statements. For more information, contact: John
Figone -- US Dataworks (713) 934-3855 ext. 250 Terrie James --
media contact (713) 412-2052 Ken Dennard -- investor contact (713)
529-6600 DATASOURCE: US Dataworks, Inc. CONTACT: John Figone of US
Dataworks, Inc., +1-713-934-3855, ext. 250; or media, Terrie James,
+1-713-412-2052, or ; or investors, Ken Dennard, +1-713-529-6600,
or , both for US Dataworks, Inc. Web site:
http://www.usdataworks.com/
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