An online version of US Dataworks Inc.’s Clearingworks payment service is now available to businesses looking to automate many of the nonelectronic payments they receive, the Houston-based company announced Jan. 11.
Businesses that accept phone-based payments and paper checks may use the service to electronify those payments and eliminate the costs incurred to physically handle them, Randall J. Frapart, US Dataworks chief financial officer, tells PaymentsSource.
Clearingworks already is available as a service that requires businesses to have a US Dataworks server on its premises. The online version eliminates that requirement, potentially helping companies to reduce their information-technology costs, Frapart says.
“This is just an additional delivery method of the same technology,” Frapart says of the online feature.
The online Clearingworks service could cut a business’s payment-remittance costs by 20% to 60% compared with the hosted-server model, he estimates.
Not all Clearingworks customers will use the online option, Frapart says. Some companies are more comfortable having the server on premises or have made a strategic decision to have everything on site, he says, noting the online option gives customers a choice, he says.
Though Frapart would not disclose pricing, US Dataworks charges businesses a monthly subscription fee based on their monthly payments volume.
Many of US Dataworks’ customers have electronic-payment processing contracts for their credit and debit card payments, and they want similar efficiencies with the other payment methods they accept, Frapart says.
Clearingworks processes more than 8 million daily transactions, US Dataworks says.
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