MOSINEE, Wis., May 8 /PRNewswire/ -- REMITCO, a First Data company and one of the nation's largest processors of retail lockbox payments, announced today that it will work exclusively with Wausau Financial Systems to implement an enterprise remittance solution platform at the company. The transition will help standardize the processing of over 60 million payment transactions per month for REMITCO on Wausau's ImageRPS platform, one of the leading remittance processing solutions in the industry.
The Wausau ImageRPS solution implementation will help standardize the payment processing platform at REMITCO's eight retail lockbox locations nationwide. The enterprise-wide remittance platform delivers REMITCO efficiencies and Wausau's industry-leading functionality, including the ImageRPS solution's accounts receivable conversion (ARC) eligibility decisioning interface and ICL (Image Cash Letter) capabilities.
"We see tremendous advantages in standardizing our lockbox processing with one partner, and we're pleased to work with Wausau Financial Systems to implement this enterprise-wide remittance processing solution," said Scott Dickey, president, REMITCO. "REMITCO and Wausau have shared a very successful relationship over the last three years, and we feel this strategic move to standardize on one platform will position us for further volume and profitability growth."
"The decision from REMITCO, as one of the nation's leading retail lockbox processors, to migrate its entire client volume to our ImageRPS solution is a strong testimonial to the strength of Wausau's remittance processing capabilities," stated Jim Lapinski, Executive Vice President - Remittance Solutions for Wausau Financial Systems. "The combination of Wausau's solution deliverables and the lockbox knowledge of REMITCO solidifies its strong industry presence."
About Wausau Financial Systems
Wausau Financial Systems is a premier provider of payment and remittance processing solutions. Wausau serves businesses of all types to develop strategies that move money faster. With its products, services and consulting, Wausau works with customers to speed check processing, electronic presentment, ACH payments, transaction processing, distributed capture and enterprise content management. Wausau's innovative solutions provide results for a wide range of organizations including financial institutions, insurance companies, utilities, retail businesses and governmental agencies. Find more information about Wausau at http://www.wausaufs.com/ .
About REMITCO
REMITCO is the remittance processing subsidiary of First Data and one of the largest retail lockbox providers in the United States, processing over 60 million payments per month. First Data Corp. is a leading provider of electronic commerce and payment solutions for businesses and consumers worldwide. Serving 4.6 million merchant locations, 1,600 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, Vigo and Orlandi Valuta together make up one of the world's largest money transfer networks with approximately 274,000 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 http://www.firstdata.com/ .
