Bringing its lockbox operations back in-house, Financial and Credit Services, a division of Federated Department Stores Inc., signed a $1.3 million contract for an image remittance system from Recognition International Inc. The credit service company, located in Mason, Ohio, will use the system to process up to 150,000 remittance credit card payments daily. It will be installed in October.
Federated, with headquarters in Cincinnati, is one of the nation's largest department store retailers, with 217 stores in 26 states.
Dallas-based Recognition International Inc. supplies open systems document recognition systems, image and workflow software, and related customer services.