Heartland Payment Systems (NYSE:HPY) has teamed up with on-demand online check services processor transmodus to enhance its check payment services by automating the collection of check payments and the processing of returned and cancelled checks.
When integrated with Heartland's remote deposit capture system, Heartland Express Funds, transmodus' technology enables merchants to handle all check processing actions online. The agreement between the two companies will also allow Heartland to offer transmodus' services as a stand-alone solution for its customers. When combined with Heartland's traditional credit and debit card processing services, it provides merchants with a centralized, unified payment-processing platform.
"Cancelled and bounced checks are a costly, time-consuming hassle for businesses relying on check payments," Tony Capucille, director of check services for Heartland Payment Systems, said in a statement. "We can eliminate the headache of check returns and debt collection at little or no additional cost to the merchant."