First Data's TeleCheck Electronic Check Acceptance(R) Rolled Out in Office Depot Stores Nationwide
Service Increases both Security and Convenience During Checkout Experience
DENVER--(www.AllPayNews.com)--Sept. 18, 2006--TeleCheck Services, Inc., the world's leading check acceptance company and subsidiary of First Data Corp. (NYSE: FDC), announced that Office Depot (NYSE: ODP) has contracted with TeleCheck to provide the Electronic Check Acceptance(R) (ECA(R)) service in the company's more than 1,000 stores nationwide. Customers presenting checks at Office Depot locations beginning this fall will benefit from increased security and convenience as the company converts those checks to electronic transactions at the point of sale. The service utilizes the Automated Clearing House Network (ACH) to collect the funds from the customer. This process is growing steadily and attracting merchants nationwide.
First Data's TeleCheck is the leader in Electronic Check Acceptance (ECA) services. ECA allows businesses to cost-effectively authorize and settle check transactions quickly and in a secure format. The Electronic Check Acceptance program is designed to help reduce fraud while saving considerable time and expense at both the customer contact and transaction processing levels. The TeleCheck service also takes advantage of new capabilities that eliminate image capture requirements and maximizes the percentage of checks eligible for conversion.
Writing a check remains a popular way for consumers to make their purchases. At the same time, creating faster and more secure methods for the authorization, warranty and electronic conversion of paper checks is a priority for national and mid-market companies.
"We are very pleased to welcome Office Depot to the growing list of national merchants looking to offer their customers the maximum levels of choice, convenience, flexibility and security when choosing a payment option," said TeleCheck President Brian Mooney.
TeleCheck provides a broad suite of both electronic and paper check processing services, which can be customized to meet the unique needs of individual merchants. With over 138,000 merchant locations currently processing with ECA through TeleCheck, the steady growth of electronic check services in both large and small merchants has become a standard for efficient check acceptance services.
About First Data
First Data Corp. (NYSE: FDC) is a leading provider of electronic commerce and payment solutions for businesses and consumers worldwide. Serving 4.6 million merchant locations, 1,700 card issuers and millions of consumers, First Data powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services using virtually any form of payment. The company's portfolio of services and solutions includes credit, debit, private-label, gift and other prepaid card issuing and merchant transaction processing services; money transfer services; money orders; fraud protection and authentication solutions; check guarantee and verification services through TeleCheck; as well as Internet commerce and mobile solutions. Western Union, together with its affiliates Orlandi Valuta and Vigo, are leaders in global money transfer, providing people with fast, reliable and convenient ways to send money around the world, pay bills and purchase money orders through a network of over 270,000 agent locations in more than 200 countries and territories. The company's STAR Network offers PIN-secured debit acceptance at 1.9 million ATM and retail locations. For more information, visit www.firstdata.com.
About Office Depot
Office Depot provides more office products and services to more customers in more countries than any other company.
Incorporated in 1986 and headquartered in Delray Beach, Fla., Office Depot has annual sales of nearly $15 billion, and employs approximately 50,000 associates around the world. Currently, the Company sells to customers in 33 countries, and has affiliates in another five.
Office Depot is a leader in every distribution channel -- from retail stores and contract delivery to catalogs and e-commerce. As of July 1, 2006, Office Depot had 1,071 retail stores in North America and another 322 stores, either company-owned, licensed or franchised, in other parts of the world. Office Depot serves a wide range of customers through a dedicated sales force, telephone account managers, direct mail offerings, and multiple web sites. With over $3.8 billion in online sales, the Company is also one of the world's largest e-commerce retailers.
Office Depot's common stock is listed on the New York Stock Exchange under the symbol ODP and is included in the S&P 500 Index. Additional press information can be found at http://mediarelations.officedepot.com.
First Data Corp.
Jody Soper, 303-967-6611