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
tjames@nextpagecom.com
Ken Dennard -- investor contact
(713) 529-6600
ksdennard@drg-e.com
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SOURCE US Dataworks, Inc.
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Related links:
http://www.usdataworks.com
CONTACT:
John Figone of US Dataworks, Inc.,
+1-713-934-3855, ext. 250; or media, Terrie James,
+1-713-412-2052, or tjames@nextpagecom.com ; or investors, Ken
Dennard, +1-713-529-6600, or ksdennard@drg-e.com , both for US
Dataworks, Inc.
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