March 4, 2009, Herndon, VA. The leader in biometric check cashing, formerly know as BioPay Paycheck Secure, announced its new company name, AllTrust Networks. Still under the same ownership and management, the name change is part of the company’s overall strategy to position itself as the leading provider of “decisioning” data in the alternate financial service market. Its customers, retailers who are part of the AllTrust network, benefit from this “trusted” data source, receiving valuable check recommendations based on transaction history – from both the check issuer and the check casher. Transactions that begin with a biometric identification are faster and more secure than traditional check authorization systems. AllTrust leverages its network of over 5-million enrolled consumers and thousands of retail locations to dramatically reduce the fraud risks of payroll check cashing.
The name change also reflects the expansion of the company’s service offerings and the added value created for both retail clients and consumers. Prepaid card issuance and bill payment services complement the base check cashing system, and enable retailers to more efficiently fulfill their customers’ needs by using one system to perform multiple financial services. In addition AllTrust Networks has enhanced existing features of the check cashing product including electronic deposits and check maker research, to improve the overall retailer experience.
“Our client base, comprised of grocery, c-store and financial service centers, uses our check cashing system to drive in-store traffic, reduce losses from bad checks and grow their businesses by efficiently serving underbanked individuals,” said Jon Dorsey, CEO of AllTrust Networks. “We are proud of our ability to service this market through our trusted data network, and strongly believe that the name change more clearly defines our commitment to both retailers and consumers.”
About AllTrust Networks
With more than five million registered consumers, AllTrust Networks, formerly BioPay Paycheck Secure, is the most widely used biometric check cashing system in the nation. Thousands of retail locations across 46-states are using the Paycheck Secure system to quickly, safely, and easily identify customers and process financial transactions. Designed to stop fraud and speed check cashing transactions, the payroll check cashing solution, now offers retailers and banks full MSB compliance, embedded Check 21 processing, prepaid card and bill payment services.
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