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Jack Henry Closer to Acquiring Select Payment Processing, Inc.

MONETT, Mo.- Jack Henry & Associates, parent company of credit union data processor Symitar Systems, has moved further towards acquiring Select Payment Processing, Inc., provider of electronic check processing solution for financials institutions. The acquisition is pending Select Payment's shareholder approval, which is expected within the coming weeks. Select Payment's...

By Staff Writer | Updated on September 14, 2004

MONETT, Mo.- Jack Henry & Associates, parent company of credit union data processor Symitar Systems, has moved further towards acquiring Select Payment Processing, Inc., provider of electronic check processing solution for financials institutions. The acquisition is pending Select Payment’s shareholder approval, which is expected within the coming weeks. Select Payment’s fully integrated, Web-based electronic check processing system converts paper-based checks into electronic checks, processes them through the ACH network commonly used for direct deposit payroll, automates returned check re-presentment, generates real-time reporting, and supports proactive risk management Jack Prim, CEO of Jack Henry & Associates, said, “Integrating Select Payment’s innovative system with our existing electronic payment products and services will enhance our product line, and provide additional revenue generating opportunities for our bank and credit union clients.”

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