StoreNext Retail Technologies LLC has agreed to offer its independent-grocer clients consumer check verification and imaging services from First Data Corp., the processing company recently purchased by Kohlberg Kravis Roberts & Co.
StoreNext, a Plano, Tex., company that supplies technology to grocers, said Monday that it would offer them First Data's Electronic Check Acceptance service, which lets stores verify that checks are good and convert them into electronic transactions. The service is provided through the Denver processor's TeleCheck Services Inc. unit.
TeleCheck's acceptance service is one of many ways merchants are using to convert checks at the point of sale into automated clearing house transactions, which are generally less expensive to process than checks and often clear faster. Some merchants are also starting to convert checks into ACH payments in their back offices, under rules that took effect in March.
Brett Narlinger, a First Data senior vice president for national sales, said in a StoreNext press release that the TeleCheck service "will allow independent grocers to more effectively meet the needs of customers who prefer to pay by check, and reduce operational costs at the same time."
