Camarillo, CA ? Electronic Clearing House, Inc. (NASDAQ: ECHO), a leading provider of electronic payment and transaction processing services, today announced that it received confirmation from First National Merchant Solutions (?First National?), a wholly-owned subsidiary of First National Bank of Omaha, that ECHO?s processing contract under the Visa POS Check program has been renewed through December 2005.
First National provides check processing for national as well as regional retail merchants and, most notably, First National processes for the largest retailer currently on the Visa POS Check service. ?ECHO is proud to support check authorization, funds settlement and active collection for merchants using First National,? stated Steve Hoofring, Vice President of ECHO. ?We focus on providing the key check services that maximize merchant value by minimizing check losses.?
First National first contracted with ECHO to process Visa POS Check activity in December of 2002. ?This new agreement confirms the ongoing commitment of First National to continue to rely on ECHO throughout the coming year as we add new merchants to the overall service we call CompletePay®,? stated Matt Minchow, Senior Vice President of Business Development of First National. ?ECHO has proven to us over the past two years that they are committed to operating a world class check processing system in terms of performance, customer service and collection.?
About First National Merchant Solutions
First National Merchant Solutions is a wholly-owned subsidiary of First National Bank of Omaha. First National Merchant Solutions is a customer service driven payment processor with over 50 years of experience in payment processing solutions. For more information, visit their web site at www.fnms.com.
About Electronic Clearing House, Inc. (ECHO)
Electronic Clearing House, Inc. provides a complete solution to the payment processing needs of merchants, banks and collection agencies. ECHO?s services include debit and credit card processing, check guarantee, check verification, check conversion, check re-presentment, and check collection. For more information about ECHO, please visit www.echo-inc.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Examples of forward-looking statements in this press release include, but are not limited to statements related to continued organic growth in the Company?s core bankcard processing business, and the ability to implement key marketing initiatives in the Company?s check services business, as well as the Company?s belief that its check services program and continued results in bankcard and transaction processing will drive continued double digit revenue growth and improving gross margins. Potential risks and uncertainties include, but are not limited to, such factors as fluctuations in demand for the Company?s products and services, the introduction of new products and services, the Company?s ability to maintain customer and strategic business relationships, technological advancements, impact of competitive products and services and pricing, results of marketing campaigns, growth in targeted markets, the adequacy of the Company?s liquidity and financial strength to support its growth, and other information detailed from time to time in the Company?s filings with the United States Securities and Exchange Commission.
