STRATEGIC PARTNERS
July 1, 2003
DALLAS -- CashWorks Inc., which has installed its check cashing application at some 500 retail locations through partnerships with several ATM manufacturers and distributors, has certified its patent-pending check cashing Central Decision Engine on the InfonoxActive Payment Platform.
(See related stories Checking out the CashWorks program, CashWorks gets $5M in funding to grow check cashing program, Tax season provides nice return for ATM deployer, CashWorks signs 2 more ISOs for ATM check cashing and NexTran to offer CashWorks check cashing on its ATMs)
According to a news release, the two companies plan to begin testing a multi-function financial services kiosk, which will utilize Infonox's patented ActiveVerifier technology to
authenticate customers and transmit transaction data to CashWorks' Central Decision Engine for risk analysis and approval.
CashWorks' check cashing will be the latest product supported by the Infonox Active Payment Platform. According to the release, it already supports standard ATM processing, point-of-sale debit, personal check cashing, Western Union money transfer and money order, credit card cash advances, bill payments, and phone minutes.
Safwan Shah, president and chief executive of Infonox, said in the release, "With CashWorks' check cashing program now certified on Infonox's platform, CashWorks can reach any device type -- ATM, kiosks, POS and thin-clients."
"Our partnership with Infonox allows CashWorks to support both the existing PayPort check cashing platform as well as expansion to self-service kiosks," said Ken Rees, president and chief executive of CashWorks. "Additionally, Infonox's flexible Active Payment Platform will allow CashWorks to add new products supported by Infonox to existing PayPort locations and to develop and deploy new hardware platforms to meet the unique needs of its customers.
CashWorks is the creator of the PayPort, a solution for cashing payroll and government-issued checks that employs a POS terminal for transaction authorization and dispenses funds from ATMs. CashWorks has patents pending on both PayPort and on the transaction process itself, according to the release.
