eCashflow Systems Partners With NACS

Under terms of the agreement, NACS members will be able to use the eCashflow Systems iSmart Check Rapid Recovery technology for non-sufficient funds (NSF) collection at no additional cost. eCashflow Systems technology enables three presentations of bounced checks to the bank for payment instead of the usual two with the traditional paper method plus an integrated no-cost traditional collections option for the small percentage of checks that cannot be collected electronically.Most NACS members accept checks and currently expend a great deal of time and money chasing down bad checks. With eCashflows automated iSmart technology, NACS members will receive:  * 100 percent of any checks collected * a free service since all collection costs are passed on to the bad check writers * an effortless, non-invasive automated electronic process performed behind the scenesAccording to the 2006 NACS State of the Industry report, more than 82 percent of convenience stores accept checks, accounting for about 7.2 percent of all payments. NACS estimates that retailers currently incur more than $95 in costs per returned check due to banking fees and lost employee productivity.