AGOURA HILLS, Calif. - Electronic Clearing House Inc. announced Wednesday that it has signed a letter of intent to purchase National Check Network.
Based in Rockford, Ill., National Check Network is an organization of more than 60 collection agencies that contribute negative and positive information about check writers in the company's database. Its services are marketed to collection agencies that in turn market the services to retail merchants.
National Check Network performs about three million check verification transactions a month for about 8,200 merchant clients.
Electronic Clearing House provides services including credit and debit card processing, check guarantee and verification, check conversion, and inventory tracking to more than 58,000 merchants.
Last year Electronic Clearing House acquired Rocky Mountain Retail Systems, a national check verification service. The added volume from National Check Network would make Electronic Clearing House one of the nation's largest check verification processors.