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Article: NATIONAL DATA CORPORATION ACQUIRES CHECK GUARANTEE SERVICE COMPANY'S ASSETS
- Article from:
- PR Newswire
- Article date:
- June 28, 1994
CopyrightCOPYRIGHT 1994 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ATLANTA, June 28 /PRNewswire/ -- National Data Corporation (NYSE: NDC) today announced that it has acquired the assets of a Chicago- based check guarantee company -- Yes Check Services, Inc.
Check guarantee firms help merchants minimize their exposure to losses on bad checks. Checks are passed through a merchant-based terminal device that reads numbers on the checks into an electronic cash register. Approvals and declines are based on a variety of information stored in the check guarantee company's data base. If a check is returned, the guarantee company pays the merchant its face value and pursues collection on its own.
"This acquisition fits our strategy of ...