US Dataworks Crosses Over One Billion Transactions Threshold
25 July 2005 - 9:00PM
PR Newswire (US)
US Dataworks Crosses Over One Billion Transactions Threshold
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 DATASOURCE: US
Dataworks, Inc. 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. Web site: http://www.usdataworks.com/
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