SOURCE: CybrCollect, Inc.

February 19, 2007 14:02 ET

Industry Innovators, CybrCollect and Midax, Release TranFusion™, a Uniquely Integrated BOC Solution

LA CROSSE, WI -- (MARKET WIRE) -- February 19, 2007 -- CybrCollect, Inc., a pioneer in ePayment processing, today announced the release of TranFusion. This new BOC product revolutionizes paper check conversion by eliminating key entry in the back office. TranFusion streamlines check conversion through the support of NACHA's new BOC SEC code (effective 3/16/07). TranFusion's unique integration with point-of-sale (POS) systems revolutionizes, simplifies, and automates electronic check conversion. The initial roll-out targets the supermarket industry, with scheduled releases to all retail merchants.

TranFusion will:

--  eliminate signature capture at the POS
--  provide faster funds availability
--  lower labor costs and increase operational efficiencies
--  decrease the risk of lost, stolen, or damaged paper checks
--  reduce the administrative burden of processing paper checks and
    deposit preparation
--  consolidate deposits from multiple locations to reduce banking
    relationships and the associated fees
--  eliminate paper check encoding expense
--  minimize returns and their associated fees
--  provide faster notification of return items for expedited re-
    presentment and improved collectability
    
BOC provides an incredible return on investment for merchants. A recent study done on behalf of a retail store chain found that BOC could "reduce bank fees by as much as 97%, improve access to funds by 54% and reduce losses from the returned items by 20% through implementation of BOC via (check) conversion into an ACH payment (BOC/ACH). By implementing BOC/ACH, the retailer realizes an overall savings of 59.9%."(1)

About CybrCollect

CybrCollect, Inc. consolidates the best practices in the check collection and ePayment industries. In addition to RCK services, they offer a complete eCheck solution with integrated collections. CybrCollect endeavors to create the fastest returns for merchants while providing excellence in customer service. Their free electronic check collection services aid businesses nationwide in increasing their collection of bad checks, while lowering associated transaction fees.

About Midax

Midax, Inc. is an industry innovator in systems integration with an enterprise suite of software solutions tailored to the independent retail operator. Midax offers a range of fully integrated solutions for retail, from payment processing and loyalty to CAO, receiving and price hosting, all supported by one common data warehouse. Midax serves customers across the entire United Sates from its base in Virginia Beach, VA.

(1) "A Compelling Business Case for BOC Adoption, Now." A Major Retail Case Study/ White Paper. By: Bob Seltzer, President and Michael Fisher, Sr. Vice President Meta Software.

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