Consolidation Continues In CheckClearing

March 11, 2005, 1:00 a.m. EST 1 Min Read

NEW YORK - (03/11/05) -- The shakeout continued in the checkclearing business with the Clearing House Payments Co. adding theUpstate New York Clearing House Association to its growingSVPCO-Check Services network, the company said Thursday. The checkclearing operation is owned by the biggest banks in the nation andis a rival to the Checkpoint Exchange network owned by Metavante,and Fiserv, the other two major clearing networks. In the past twoyears, the Clearing House has combined the check processingoperations of the Western Payments Alliance, Chicago Clearing HouseAssociation, Connecticut Clearing House Corp., Northeast RegionalCheck Exchange-Long Island Arrangement, and Liberty Clearing HouseAssociation (New Jersey and Philadelphia.

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