Certegy to Provide Check Authorization and Collection Services to BI-LO and Bruno's Food Retail Chains
03 Marzo 2005 - 3:07PM
PR Newswire (US)
Certegy to Provide Check Authorization and Collection Services to
BI-LO and Bruno's Food Retail Chains ST. PETERSBURG, Fla., March 3
/PRNewswire-FirstCall/ -- Certegy Inc. (NYSE:CEY), a leading global
payment services provider, today announced that it has signed an
agreement to provide its Pathways(R) check authorization and
collection services to BI-LO and Bruno's food retail chains. BI-LO
and Bruno's are two of the leading grocery store chains in the
southeastern United States, with a combined store count of over 400
supermarkets in South Carolina, North Carolina, Georgia, Tennessee,
Alabama, Florida and Mississippi. Ahold USA has announced it is
selling both chains to Lone Star Funds, a leading U.S. private
investment company based in Dallas, Texas that manages more than
$13 billion in assets and investments in North America, Europe and
Asia. With the Pathways(R) service, Certegy provides up-front check
authorization while the retailer assumes the risk for fraudulent
checks. Certegy's risk management system, combined with its check
recovery service, makes the payment process more efficient by
significantly reducing risk at the time of payment and collecting
checks returned for insufficient funds, thereby lowering retailers'
overall check expense. "With strong heritages of outstanding
customer service, both BI-LO and Bruno's place a premium on
offering their customers a pleasant shopping experience," said Jeff
Carbiener, executive vice president and group executive of Certegy
Check Services. "Our unique artificial intelligence modeling and
superior risk management technology enables retailers like BI-LO
and Bruno's to reduce fraud and control check expense while
maintaining superior customer service levels and consumer
satisfaction." "As an industry leader, Certegy is the ideal check
risk management provider by making the purchase easier for
customers who prefer to pay by check, in addition to reducing our
cost of check acceptance," stated John Symons, BI-LO Executive Vice
President of Store Operations. About Certegy Inc. Certegy
(NYSE:CEY) provides credit and debit processing, check risk
management and check cashing services, merchant processing and
e-banking services to over 6,500 financial institutions, 117,000
retailers and 100 million consumers worldwide. Headquartered in St.
Petersburg, Florida, Certegy maintains a strong global presence
with operations in the United States, United Kingdom, Ireland,
France, Chile, Brazil, Australia, New Zealand, Thailand and the
Caribbean. As a leading payment services provider, Certegy offers a
comprehensive range of transaction processing services, check risk
management solutions and integrated customer support programs that
facilitate the exchange of business and consumer payments. Certegy
generated over $1.0 billion in revenue in 2004. For more
information on Certegy, please visit http://www.certegy.com/ .
About BI-LO and Bruno's BI-LO and Bruno's are two of the leading
food retail chains in the southeastern United States, with a
combined store count of over 400 supermarkets and combined 2003 net
sales of approximately EUR 4.7 billion. Forward-Looking Statement
The statements in this release may include forward-looking
statements that are based on current expectations, assumptions,
estimates, and projections about Certegy and our industry. They are
not guarantees of future performance and are subject to risks and
uncertainties, many of which are outside of Certegy's control that
may cause actual results to differ significantly from what is
expressed in those statements. Factors that could, either
individually or in the aggregate, affect our performance are
described in detail in the section entitled "Certain Factors
Affecting Forward-Looking Statements" in our 2003 Annual Report on
Form 10-K filed on February 17, 2004, with the SEC. DATASOURCE:
Certegy Inc. CONTACT: Mary Waggoner, SVP - Investor Relations of
Certegy Inc., +1-678-867-8004 Web site: http://www.certegy.com/
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