September 29, 2008, Herndon, VA. Biometric check cashing leader Paycheck Secure today announced that more than five million consumers have now enrolled in its Paycheck Secure system to conveniently and securely cash payroll checks. With the Paycheck Secure system, customers can enroll at any participating grocery store, liquor store, convenience store or check cashing location to cash any employer’s paycheck or a government check with a simple touch of a finger.
The five millionth consumer enrolled this month at Lowe’s Pay and Save grocery store in Odessa, TX. Lowes deployed the Paycheck Secure system in 2006 and now has it available at 76 stores in West Texas and New Mexico, and one in Arizona. Pay and Save has cashed more than $275 million in payroll checks for its 130,000 customers who are enrolled in the system.
“Our customers appreciate the speed and convenience of cashing their checks by just putting their finger down,” said Roger Lowe Jr., CEO of Lowe’s Pay and Save Inc. “We wanted to better serve our customers by offering a payroll check cashing service without the concern of possible fraud. Paycheck Secure makes it convenient for the customers and virtually eliminates fraud.”
“Our database of enrolled consumers has more than reached critical mass, ensuring that our merchants have greater protection against possible fraud,” said Jon Dorsey, CEO, Paycheck Secure. “The Paycheck Secure system positively enhances the check cashing experience for the underbanked; and provides merchants with key data to make informed decisions on financial transactions.”
Signing up to cash checks using Paycheck Secure is quick and easy. Customers simply provide a photo ID; two finger scans, and a smile for a digital photograph. The system’s quick and simple enrollment process, coupled with easy-to-use features, helped merchants and consumers nationwide complete over 53 million transactions worth $23 billion dollars.
About Paycheck Secure
With more than five million registered consumers, Paycheck Secure is the most widely used biometric check cashing system in the nation. Thousands of retail locations across 41-states are using the Paycheck Secure system to quickly, safely, and easily identify customers and process financial transactions. BioPay’s Paycheck Secure system is a complete payroll check cashing solution designed to stop fraud and speed check cashing transactions. With a proven record of preventing losses, the product offers retailers and banks full MSB compliance features as well as embedded Check 21 processing.
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