Automated Merchant Systems, Inc. Partners with RemitPro, Inc. to Lead Market for Remote Deposit Capture Solution

5 November 2008

Automated Merchant Systems, Inc. (AMS) and RemitPro, Inc today announced their strategic partnership to provide an innovative Check 21 back-office solution for organizations seeking to convert traditional paper check acceptance methods into Remote Deposit Capture (RDC). The combination of technologies; AMS’s industry electronic payment expertise and RemitPro’s inventive software
solutions, provides market synergy for both companies.

Since Check 21 legislation was passed by Congress in 2004, businesses are realizing opportunities to streamline the check deposit process, minimize fraud and reduce costs while having faster access to their funds. As banks consistently increase their per check fees each year, organizations are feeling the push to adopt improved check processing technologies.

The flexible web based application interfaces easily with a variety of back-office systems and requires no IT server infrastructure. ACH payments flow seamlessly from the originating company’s A/P or cash management systems through the banking infrastructure to the receiving company’s A/R system. End users benefit from real-time reporting with search, view, print and download functionality along
with pending and cleared deposit summaries.

AMS can now provide its customers with a cost effective, easy to deploy Check 21 solution that brings a rapid return on investment. The interest gained on earlier investment of funds virtually pays for the RDC deployment. “Businesses will benefit in several ways with the solution but most noticeably they should see a reduction in operating costs since they will be transmitting Check 21 images to
their bank and no longer making physical deposits or sending checks to their bank branches for deposit” said Daniel Sloan, President of AMS.

Well regarded in the industry for its years of payment service integration and electronic payment expertise, AMS will offer the solution and work directly to assist merchants, developers, and other entities with the implementation. Mr. Sloan also states, “Partnering with RemitPro, Inc. was a natural progression for us and gives us a great platform to satisfy our client’s looking to simplify their
check processing.” AMS will offer the solution under its own branding as “RemitQuick”, part of its Check 21 compliant check image & conversion solutions.

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