TROY Teams With First National Bank of Omaha for Electronic Check Processing

By SmallBusinessComputing Staff | Posted February 16, 2002
Wayne N. Kawamoto
Managing Editor, www.smallbusinesscomputing.com

TROY Systems, a division of TROY Group (Nasdaq: TROY) and First National Bank of Omaha, a subsidiary of First National of Nebraska (OTC BB: FINN) announced an agreement that creates a payment solutions partnership.

Under the agreement, First National Bank of Omaha will serve as a reseller for TROY Systems' entire eCheck Secure product line, including the online, Internet, phone-based, and bill payment interfaces, along with a back-office payment management system accessible via an Internet browser.

eCheck Secure enables secure electronic checks to be transmitted over the Internet within moments, with risk management services provided by check verification databases and all aspects of the transaction protected by encryption technology.

Consumers can initiate eCheck Secure transactions online without the use of a credit card, creating a transaction record for use in reconciling bank statements and assuring merchants of check acceptance. Online brokerages, e-commerce retailers and utilities have adopted eCheck Secure to provide their existing and prospective customers with the convenience of instantaneous electronic payment without the credit limits, interest charges or potential for fraud inherent in credit card transactions.

"We are pleased to announce this agreement with First National Bank of Omaha," said Patrick J. Dirk, TROY Group's Chairman and Chief Executive Officer. "This strategic partnership combines the strength of TROY's Internet payment offering, eCheck Secure, with First National Bank of Omaha's large cash management and merchant customer base of over 100,000 accounts. As a top-twenty ACH originating bank, First National Bank of Omaha's ACH expertise ensures the provision of timely and accurate payment information in real time throughout the growing eCheck Secure network."

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