US Dataworks (AMEX:UDW)
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US Dataworks Broadens Clearingworks(TM) Functionality and
Introduces Distributive Capture Capabilities at PAYMENTS 2005
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
Ken Dennard -- investor contact
(713) 529-6600
DATASOURCE: US Dataworks, Inc.
CONTACT: John Figone of US Dataworks, Inc., +1-713-934-3855, ext. 250;
or media, Terrie James, +1-713-412-2052, or ; or
investors, Ken Dennard, +1-713-529-6600, or , both for US
Dataworks, Inc.
Web site: http://www.usdataworks.com/