Check by Phone Processing Company A and R Check by Phone Acquired

Online, September 18, 2009 (Newswire.com) - CHARLOTTE, NC, September 18, 2009 -- A and R Payment Processing Services, a local check processing company based in the Charlotte, NC area, announced today the private sale of their company to Abbott and Ross Credit Services, of Charlotte, NC. A and R Check by Phone offers local and national organizations the ability to take Checks by Phone over a proprietary technology platform.

"Customers have been drawn to us because we offer them dramatic reductions in processing times, processing fees and monthly recurring charges," said A and R's Vice President Michael Dow. "Some of our customers were used to waiting as long as 4 to 5 days to have their checks processed before they started using our services. We stand out at A and R Check by Phone because we are the 'source' of deposit activity and not simply a reseller as is the case with most of the out-dated check processing companies that still use antiquated systems. We offer deposits as fast as same day, greatly helping small businesses to receive their needed payments for goods and services. "

"The bottom line for a lot of small and new businesses is the economy is still in the crapper and they need our type of service to survive. Quick cash flow is the lifeblood of a small business, and we are able to supply that cash flow faster and cheaper than any of our competitors due to our state-of-the-art technology platform," concluded Mr. Dow.

Abbott and Ross Credit services noticed the rapid growth of A and R Check by Phone services while a customer of A and R and engaged in a partnership beginning in early 2009. Synergies between the two companies resulted in the rapid expansion of A and R Check by Phone's customer base through Abbott and Ross' relationships throughout the financial industry. By building a technology platform that allows checks to be processed as drafts or electronic checks, companies can have their checks presented to their banks as early as the same day. This allows companies to take checks over the phone, online, or via fax and not lose days or even longer waiting for the check to be presented to the bank. Now they can access those funds almost immediately. This has proved to be an invaluable service for many new businesses.

New businesses often require the ability to take check payments by phone and due to the increasing fees charged by banks for ACH wires, EFT payments, VISA, American Express, and Discover card charges, the rates of A and R Check by Phone services are very competitive. Most of the time the fees are actually less than most credit card fees and the accounts are a lot easier to get than a Merchant Account to take credit cards. Over 90% of new businesses are accepted by A and R Check by Phone for new Merchant Accounts whereas the rejection rate for new businesses applying for a credit card Merchant Account are much higher. For new businesses, it can also take weeks longer to get an approval or denial from a credit card Merchant Account than from A and R Check by phone, costing businesses precious time, cash flow, and resources.

About A and R Check by Phone

The company A and R Check by Phone Services has offices in Charlotte, NC and Fort Mill, SC and has the ability to process checks for companies in all 50 states, Canada, and US Territories. A and R Check by Phone's services are used by companies from 50 different SIC codes including collection agencies, mortgage companies, online retailers, attorneys, property management companies, finance companies, insurance agencies, and a host of other industries. Services and more information can be found at http://www.arCheckbyPhone.com.

Company contact:
Michael Dow
Vice President of Development
A and R Check by Phone Payment Services
1-866-961-3060
info@archeckbyphone.com
www.arCheckbyPhone.com