VALID Systems has partnered with Tranax Technologies, Inc. to offer VALID’s check cashing solution to Tranax’s customer base. VALID’s system is Internet-driven decisioning and biometric identification system that virtually eliminates fraud while requiring minimal hardware and training. Customers enroll with the cashier, but receive funds via ATM. Enrollment using VALID’s application averages 70 seconds; repeat transactions average 27 seconds. VALID claims it has the lowest loss rate and most competitive pricing of any check cashing product. Delivery begins October 18th in San Francisco.
VALID Partners with Tranax on Check Cashing Industry’s Fastest, Most Advanced Solution Expands into the Retail Market
NEWARK, Calif. — VALID Systems announced this morning that it has partnered with Tranax Technologies, Inc. to offer VALID’s groundbreaking check cashing solution to Tranax’s entire customer base.
“With this partnership, the leading innovator in self-service technology joins with the most advanced check cashing solution of its kind on the market today,” said Wes Dunn, Director of Business Development for Tranax’s Self-Service Products Group. “VALID is the future of check cashing. As always, we are offering our customers the best product at the best price.”
VALID Systems’ application has been used by financial institutions, including Key Bank and US Bank, for the past three years. It is now available in locations from coast to coast. It boasts the highest approval rate, lowest loss rate and most competitive pricing structure of any check cashing product.
VALID achieves this feat with a powerful, Internet-driven decisioning and biometric identification system that virtually eliminates fraud while requiring minimal hardware and training. Customers enroll with the cashier, but receive funds via ATM. Enrollment using VALID’s application averages 70 seconds; repeat transactions average 27 seconds.
John Templer, VALID’s CEO, commented, “Having initially focused on the financial services sector, VALID’s solution meets or exceeds banking’s rigorous standards for fraud prevention and compliance. But from the beginning, we also wanted to transform the check cashing customer’s experience. We believe grocery, retail and convenience store companies and their customers will appreciate the ease, speed, and low cost of cashing checks using VALID’s application.”
Delivery begins rolling out October 18th in San Francisco. To meet with a Tranax representative, contact Wes Dunn at 972-373-8600 x 402. To learn more about how VALID can help you improve your retail program, visit http://www.validsystems.net/.
About VALID Systems
VALID Systems is the industry’s leading check cashing and verification solutions provider. Customers including two of the top ten banks in the United States, as well as a variety of companies of all types and sizes, have found VALID’s ground-breaking, patent-pending system unparalleled in its speed, ease of use, and cost effective ability to attract and serve promising new customers. For more on how VALID can help you improve your retail program, visit http://www.validsystems.net/.
About Tranax Technologies
Tranax leads the self-service industry in the design, development, manufacture, and sale of self-service technology to the retail, banking, hospitality, entertainment, and gaming industries. Founded in 1986 by Dr. Hansup Kwon, the company has now sold over 90,000 ATMs installed across North America.
Since the beginning, Tranax has been known for its innovative, high-value products, but what really differentiates the company from its larger competitors is its strong focus on product quality and reliability, customer service and support, and the entrepreneurial and visionary founder.
The company was selected by Frost and Sullivan to receive the Growth Strategy Leadership Award for 2006 “for its outstanding ability to make rapid strides into the highly competitive ATM market in North America.” For more information please visit http://www.tranax.com.