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US Dataworks. Inc. (UDWK) Clearingworks™ Platform is Ready for Apps

|Includes: US Dataworks, Inc. (UDWKQ)

US Dataworks Inc., a company that engages in the development, marketing, and support of payment processing software for the financial services industry in the United States, announced that the Clearingworks Platform is now ready for apps to be developed and implemented utilizing the company’s unique “drop-in” process. Clearingworks’ open architecture allows for US Dataworks, clientele, and even third party developers for the company to implement the apps that are specific to their needs, while maintaining the integrity and security of the company’s core payment processing. This bold step to foster app development within the payments community is a first within traditional payment processors but maintains US Dataworks’ commitment for innovation and offering superior a costumer experience.

Changes to the payment processing community have been widely discussed by analysts. A recent Gartner report stated that, “consumers’ and merchants’ immediate requirements are for payment instruments tailored to solve specific problems.” The App-friendly Clearingworks Platform offers greater innovation in shorter periods of time by allowing business-users and developers to create their own specific Apps for their specific needs. Apps can be plugged into the Clearingworks Platform directly to further extend core payment processing for all payment channels. With the Clearingworks cloud computing environment and monthly subscription model combined, customers of all sizes can save money on IT costs and implement quick, more reliable solutions to address their business difficulties.

“This is a major milestone in our company’s history. Not only have we entered the growing App market, but this platform change also gives us the flexibility to better respond to customer demands,” stated David Depinet, CTO of US Dataworks. “As a trusted provider of payment processing solutions, the Clearingworks App strategy will be a cornerstone in the evolution of payment processing.”
The PayItFast™ App for processing walk-in payments was the first app launched on the Clearingworks Platform. Additional apps are slated to be released later on this quarter. All apps developed must receive certification and installed using the company’s unique “drop-in” licensing process. Apps will be individually priced in the market based on primary business functionality.

Clearingworks is built upon four levels of payment processing. ClearPayments: a comprehensive, multi-channel payment processing solution used for paper checks, Internet, phone payments, lock-box, and electronic bill-pay; ClearDeposits: allowing for multiple deposits and clearing for Automated Clearing House (NYSE:ACH), Check21, and credit/debit cards; ClearReturns: managing automated returns matching, resubmissions, posting of final returns, and fee assessments; ClearInsights; the integrated retaining and retrieving of payment data and images using powerful, payment analytics.

US Dataworks, Inc. engages in the development, marketing, and support of payment processing software for the financial services industry in the United States. It offers Clearingworks, an enterprise payment solution that provides remittance, retail, check, payment, and return processing services. The company also offers software licensing, maintenance, enhancement, and support services. Its software enables organizations to process payments from various sources, such as paper checks, electronic payments through the Internet and telephone, and other payment modalities. The company offers its services to banking institutions, credit card issuers, retailers, government institutions, and merchants.

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