Under the terms of the agreement, StoreNext will offer First Data’s Telecheck electronic check acceptance (ECA) integrated solution for supermarkets to all connected payments users in an exclusive check-processing arrangement. The Telecheck ECA solution lets grocers convert paper checks into electronic transactions while incorporating authorization, settlement and collections through its Telecheck ECA warranty service.
StoreNext’s connected payments is designed to help independent grocers cut electronic payments costs by up to 25% while eliminating up-front software license fees and maintenance charges. Grocers using credit-to-debit conversion and signature capture in addition to ECA are expected to generate $10 to $20 in savings overall for every dollar of connected payments subscription fees.
Brett Narlinger, senior vice president of national sales for First Data Corporation, said: We’re pleased to be selected by StoreNext as the exclusive ECA provider for its innovative connected payments program. Telecheck’s integrated ECA solution will allow independent grocers to more effectively meet the needs of customers who prefer to pay by check and reduce operational costs at the same time.
