WATERLOO, ON, Jan. 27 /PRNewswire-FirstCall/ -- RDM Corporation (TSX: RC), a leading developer of specialized software and hardware products for electronic payment processing and Remote Deposit Capture (RDC) solutions, announced today that First American Payment Systems L.P. has agreed to sell RDM's suite of RDC products including the ITMS Simply Deposit(TM) and WebClient products. First American Payment Systems currently provides payment processing services to over 100,000 merchants in the United States and is ranked as one of the country's top privately-owned payment solution providers.
Simply Deposit(TM) is an RDC solution designed specifically for small business. It is easy to use, requiring little to no end user training. The ITMS WebClient is a feature rich RDC solution that is ideal for corporate and business environments that have many points of remote or distributed capture locations, as well as those who have large central processing centers. The Simply Deposit(TM) and the WebClient products save the end user the time and transportation expenses associated with physically depositing checks at the bank and provide faster availability of funds for the depositor. Both the Simply Deposit(TM) and WebClient products are bank agnostic so that businesses are not required to change their existing banking relationships.
"We are very pleased to welcome First American as a reseller of the ITMS suite of Remote Deposit Capture products," said Douglas Newman, President and CEO of RDM Corporation. "The market opportunity for RDC solutions among small to medium sized businesses remains largely untapped and we believe First American Payment Systems is very well positioned to access this market opportunity."
"Introducing new and advanced products to better equip our sales agents is imperative in the Electronic Payments Industry," said Neil L. Randel, Chief Executive Officer and Chairman of the Board, First American Payment Systems. "The newest addition to our full line of in-house products and services is RDM's web-based Remote Deposit Capture system. RDM technology is another great addition to First American, that we believe will add value for everyone."
About RDM Corporation
RDM Corporation is headquartered in Waterloo, Ontario and trades on the Toronto Stock Exchange under the symbol RC. RDM is a leading provider of specialized software and hardware products for electronic payment processing. RDM has pioneered electronic check conversion systems and web based image and transaction management services for banks, retailers, payment processors and government agencies as well as print quality control and image quality systems for a variety of global customers. For further information, visit RDM's website at http://www.rdmcorp.com/
About First American
First American Payment Systems, L.P. is a rapidly growing merchant acquirer that provides comprehensive electronic transaction processing services for more than 100,000 merchants throughout the United States. In addition to credit, debit and EBT card processing, First American also offers a complete line of proprietary products and services including Secur-Chex(R) check services, FirstAdvantage(R) gift cards, FirstPay.Net(TM) e-commerce solutions, FirstFund(R) ACH software, Govolution(R) government e-payments, national ATM sales, and Merimac Capital(R) point-of-sale equipment and ATM leasing. For more information, visit http://www.first-american.net/.
This news release contains forward-looking statements. Forward-looking statements are based on estimates and assumptions made by RDM in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that RDM believes are appropriate in the circumstances. Many factors could cause RDM's actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements. Risk factors relating to RDM are discussed in the Risks and Uncertainties section of RDM's Annual Information Form and year-end Management's Discussion and Analysis. These factors should be considered carefully, and readers should not place undue reliance on RDM's forward-looking statements. RDM has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
