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Technology Stocks : UDW - US Dataworks, Inc. Turnaround Play Under $1.00
UDWK 0.050.0%Nov 21 5:20 PM ESTNews

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To: Thomas Kirwin who wrote (83)6/19/2010 8:11:32 AM
From: Thomas KirwinRead Replies (1) of 87
 
05/25/10 - US Dataworks Achieves Record Growth in Web Transactions

- Continued leadership in ARC, and growth in check image exchange, WEB, POP and BOC transactions, strengthens US Dataworks' position as the leader in enterprise payments -
HOUSTON, May 25 /PRNewswire-FirstCall/ -- US Dataworks, Inc. (OTC Bulletin Board:UDWK.ob) the long-time leader in Accounts Receivable Check (ARC) Conversion, today announced that it achieved record volume growth last year in Internet-initiated Automated Clearing House (ACH) transactions, and steady growth in check image exchange volume, strengthening its position as the market leader in enterprise payments solutions.

While US Dataworks maintains its position as the ARC Volume leader with a 40% market share in calendar year 2009, the company also secured an expanded share of the WEB transaction volume reported by NACHA during the same year. As a result of this growth, US Dataworks processed 6% of all WEB Standard Entry Class Code transactions in the U.S. last year, up from a 1% volume share in calendar 2008, based on NACHA statistics. Additionally, US Dataworks achieved 4% volume growth in Back Office Conversion (BOC) and Point of Purchase (POP) ACH transactions in calendar 2009, compared to the previous calendar year, while recording a 23% increase in check image exchange volumes in calendar 2009 as compared to calendar 2008.

"A lot of vendors talk about integrating payments channels but NACHA's most recent statistics prove that US Dataworks remains the leader in this space," said US Dataworks President and COO Mario Villarreal. Mr. Villarreal continued, "US Dataworks plans to build on this momentum by investing in its technology and people to deliver the enterprise payments solutions that the market is demanding."

Since 2006, US Dataworks has expanded its Clearingworks® payments processing and clearing application into a true enterprise payments platform, or integrated payments hub. Last month, US Dataworks introduced ClearHistory®, a revolutionary payment history solution that simplifies and consolidates the long-term storage of all payment transactions, regardless of source. In addition, ClearHistory is the first solution to provide a powerful analytics tool designed to unleash the power of this consolidated payment information. By eliminating traditional payment silos, Clearingworks and ClearHistory help financial institutions, utilities, retailers and government entities, reduce costs, mitigate risk, and increase visibility into their payments information.
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