Your Money Access Completes Acquisition of Check Recovery Systems

ORLANDO, FL – In June of 2004, Your Money Access, LLC (YMA), a privately held ACH and draft processor, purchased the assets of Check Recovery Systems and its related entities in a transaction that has established the company as a multi-product payment solution provider in its market. The acquired companies include (1) Check Recovery Systems, a leading NSF check recovery company serving small businesses and middle market companies; (2) NetChex, a bank draft processor offering merchants the ability to process check-based payments that settle electronically; (3) Universal Payment Solutions, a provider of data access tools necessary to effectively manage every facet of merchant processing for businesses requiring lower-cost ACH processing services. The companies have processed over $120 million for merchants over the past twelve months.

Your Money Access is pleased to announce that it has completed the first full phase of systems integration related to the acquisition of Check Recovery Systems and its affiliated companies. Key dimensions of the technology infrastructure have successfully been addressed, and future integration phases will ensure that the Your Money Access approach to risk management, compliance and strategic planning is consistent across all platforms, locations and lines of business.

With the initial phase of the integration plan complete, the company is in a strong position to demonstrate its enhanced market value to merchants, including initiatives to accelerate reserve monies back to them in its draft check processing business line.

“The collective company represents a significant value in the marketplace by allowing us to penetrate multiple industry segments representing $1 billion in revenue. In the bank draft business, we want to maintain and build on NetChex’s strength in servicing direct response and catalog marketing companies. YMA has a background in this customer segment, but also houses competencies and strategies for diversifying the customer mix through other small business and middle market customers, including insurance carriers, community banks and thrifts,” said Derrelle Janey, President and Chief Executive Officer.

Mr. Janey added: “We will continue to build on each company’s existing product portfolio while leveraging our combined proven strengths in compliance and risk management, technology, operations and customer service. This acquisition is consistent with our objective to acquire businesses, products and technologies that diversify, expand and strengthen our overall market position.”

Your Money Access is a multi-product payment solution provider, offering services such as ACH processing, electronic funds transfers, bank draft processing, RCK/NSF check recovery and electronic check processing. Your Money Access is headquartered in Orlando, FL with acquired companies operating in Newtown, PA. The combined company serves more than 500 customers.