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Tuesday, July 10, 2001
Blackstone (, one of the nation’s leading electronic providers of prepaid telecommunications products, announces the addition of a simplistic, and cost effective method of recovering NSF (non-sufficient funds) items, the Electronic Check Recovery (ECR) service, to it’s extensive line of merchant services. With ECR, when a merchant deposits a check that has non-sufficient funds, the check is routed to the service provider, Electronic Payment Technologies (EPT). At this point, EPT converts the NSF paper check into an electronic transaction and verifies the availability of funds in order to electronically debit the account. Throughout the process, the merchant is informed of the status with daily, weekly and monthly reports. According to EPT, they have had an 85% success rate of securing funds for their clients. According to Blackstone’s general manager, Michael Acton “Banking procedures dictate that all electronic items are the first to be withdrawn from any account. By converting the NSF item into an electronic transaction, merchants are insuring that they receive their funds as soon as possible.” Blackstone is one of the country’s largest providers of prepaid telecommunications products and services with over 300,000 retail locations nationwide. By successfully integrating the processing of all major credit cards (MasterCard, Visa, American Express & Discover Card) and ATM/bank cards with the sale of prepaid cellular and prepaid calling cards into one, easy-to-use POS terminal, Blackstone POS, is revolutionizing the electronic transaction industry. For more information on Blackstone’s products and services, call 1-800-639-9590 or visit Blackstone and Blackstone POS are registered trademarks of Blackstone Inc., US and foreign patents pending.