BB&T Signs With STAR Network for STAR CHEK® Direct

Thursday 3 February 2005 11:20 CET | News

Electronic commerce and payments leader First Data Corp. announced that its STAR Network has completed an agreement with Winston-Salem, N.C.-based BB&T Corporation for BB&T to participate in STAR CHEK® Direct, STARs direct check debit and verification service.

BB&T will use STAR CHEK Direct to help reduce its check fraud losses and processing costs, streamline check processing administration and generate income. STAR CHEK Direct is a new innovative alternative to paper or ACH check processing for merchants from a payment network they currently utilize and trust, said Scott Qualls, BB&T senior vice president and deposit access products manager. If consumers desire to use checks to pay, BB&T is committed to processing the paper in a manner that is efficient for merchants. Providing both verification and debit services real-time is a strong product offering. STAR CHEK Direct is a unique service in the industry that offers real-time, standalone direct verification of funds availability via the consumers DDA account, as well as real-time check debit. While the check debit service is available for both retail point-of-sale transactions and telephone and Internet bill payments, the verification service can also be used to help assess risk with other payment systems -- such as for processing paper checks or ACH eChecks. Future deployment is planned for financial institution teller windows and ATMs. With STAR CHEK Direct, we efficiently process paper presented for payment and also realize income on each transaction. And the fact that the verification and debit are performed directly against the DDA account should give the merchant an extra level of comfort and confidence for check transactions, added Qualls. We used Paragon Connect from Paragon Application Systems as the interface to the STAR CHEK Direct service. This enabled us to bring the service online quickly, reducing implementation time and resulting in a higher return on investment.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce