eFunds Corporation through its wholly-owned subsidiary Deposit Payment Protection Services, Inc., announced the renewal of its agreement to provide SCAN and SCAN Online risk management services to stores owned by The Kroger Co.. The contract renewal will provide Kroger-owned stores with continued point of sale access to the SCAN and SCAN Online services, the largest check verification services in the nation, helping them to reduce losses caused by consumer transactions that may be fraudulent or that have unacceptable payment risk.
SCAN and SCAN Online risk management services help retailers to significantly reduce costs caused by check fraud and transaction losses, and their associated payment processing and servicing costs by providing technology solutions that assist retailers in preventing bad checks from being accepted at the register.
“Kroger has a long history of providing superior value and service to their customers and eFunds is pleased to be a part of helping the company maintain their market leadership by providing the data and services they need to make informed choices about transaction risks,” said Rahul Gupta, senior vice president of eFunds Risk Management Solutions. “We look forward to a continued partnership with Kroger and are committed to supporting their business with industry-leading check authorization resources.”
Headquartered in Cincinnati, Ohio, Kroger is one of the nation’s largest retail grocery chains. At the end of fiscal 2002, the Company operated (either directly or through its subsidiaries) 2,488 supermarkets and multi- department stores in 32 states under approximately two dozen banners including Kroger, Ralphs, Fred Meyer, Food 4 Less, King Soopers, Smith’s, Fry’s and Fry’s Marketplace, Dillons, QFC and City Market. Kroger also operated (either directly or through its subsidiaries) 784 convenience stores, 441 fine jewelry stores, 376 supermarket fuel centers and 41 food processing plants. For more information about Kroger, please visit .
Headquartered in Scottsdale, Ariz., eFunds Corporation (Nasdaq: EFDS) is an industry leader with nearly 30 years of experience and expertise in electronic payments. eFunds provides electronic transaction processing, ATM solutions, risk management, professional and outsourcing services to financial institutions, electronic funds transfer networks, government agencies and retailers around the world.
Committed to providing excellent customer service and award-winning products, eFunds enables their clients to reduce transaction and infrastructure costs, detect potential fraud and enhance relationships with customers. eFunds is one of the largest third-party processors of EFT, is the largest non-bank deployer of ATMs in North America, and is the provider of the world’s largest debit database. .Details