HOUSTON, July 25 /PRNewswire-FirstCall/ -- US Dataworks (Amex: UDW), a
leading developer of payment processing solutions, is proud to announce that
it has exceeded the one billion (1,000,000,000) transaction threshold using
its Clearingworks(TM) payment platform. Clearingworks processes Accounts
Receivable Conversion (ARC) transactions, image exchange/substitute checks
(Check 21), as well as telephone-initiated and Internet-initiated transactions
for some of the largest credit card companies and financial institutions as
well as the federal government.
"To have already processed one billion transactions within an industry
that is only just now beginning to understand the power of converting paper
payments into electronic transactions is a testament to Clearingworks'
outright acceptance in the market," says CEO Charles E. Ramey.
According to numbers published by the National Automated Clearing House
Association (NACHA), a total of 1.25 billion ARC transactions were processed
in all of 2004; increasing by more than one billion transactions over the
total of ARC transactions processed in 2003.
Adds Ramey, "As the industry continues to embrace the conversion of paper
payments to electronic ones, we intend to leverage our dominance in electronic
check processing into a wider variety of payment related solutions, offering a
fully automated, end-to-end solution for every payment processing need."
ABOUT US DATAWORKS
US Dataworks is a developer of payment processing solutions, focused on
merchants, billers, Federal, State and local governments, and the Financial
Services market. 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.
Except for the historical information contained herein, the matters set
forth in this press release, including, but not limited the extent to which
the Company's balance sheet has been strengthened, leadership in the ARC
market has been captured and efforts toward profitability have been continued
and the increasing of our efforts toward capturing further market share in
ARC, Check-21 and other electronic payment processing solutions 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, 2005. These forward-looking statements speak only as
of the date hereof. US Dataworks disclaims any obligation to update these
forward-looking statements.
Contacts:
John Reiland, CFO
John Figone, VP-Business Development
US Dataworks, Inc.
(713) 934-3855
http://www.usdataworks.com
Ken Dennard, Managing Partner
Karen Roan, Sr. Vice President
DRG&E (713) 529-6600
SOURCE US Dataworks, Inc.
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Related links:
http://www.usdataworks.com
CONTACT:
John Reiland, CFO, or John Figone,
VP-Business Development, both of US Dataworks, Inc.,
+1-713-934-3855; or Ken Dennard, Managing Partner, or Karen Roan,
Sr. Vice President, both of DRG&E, +1-713-529-6600, for US
Dataworks, Inc.
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