What is the advantage of using CheckDataSystem for improving my collections compared with using Telecheck™ or Teletrack™?
A. TeleCheck™ actually is a complement of SCAN. Our SCAN solution was developed by payday loan and check cashing experts who recognized the need for a product focused on our industry. Our SCAN solution provides you with a much bigger “foot print” enabling you to collect your bad debt. Additionally, you have the advantage of a collections solution designed and administered by payday loan and check cashing experts with over 25 years combined experience! TeleTrack™ is a reporting service primarily for rent-to-own companies, pawn shops, payday loan lenders, buy-here-pay-here auto dealers, and other sub-prime financial services. By reporting to TeleTrack™ you may prevent a check writer from receiving a loan elsewhere (providing they subscribe to TeleTrack™) , BUT NOT from opening a new bank account or cashing a personal check at one of the 70,000 retail locations the Check Data Systems solution partners with.
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