Local and national retailers

Local and national retailers are installing electronic cash registers (ECR) containing integrated check guarantee/credit card authorization data and voice capabilities. Check guarantee transactions are routed by a store (area) local switch to check guarantee data networks or, in the case of national retailers, via retail host networks to check guarantee vendor data networks.

b. Truck Service Centers

A highly successful funds verification/check guarantee service is offered in the transportation sector. In this instance, the independent trucker is the consumer and the authorized truck service center is the retailer.

The funds verification/check guarantee system for truck service centers is illustrated in Exhibit 111-14. There are approximately 8,000 trucking companies which for the most part consign shipments to over 200,000 independent truckers in the United States.

The basic transaction starts when the trucker purchases food, diesel, and services from a truck stop. The truck stop manager operates as an independent agent of the check guarantee services offerer, receiving a portion of the transaction fee. The authorized service center calls the check guarantee center.

The data entry operator contacts the trucking company dispatcher for verification for that driver at that point in his route. The data entry operator enters the verification into the host processor which verifies the trucking company’s credit against a data base of drivers and trucking companies.

The guarantee is forwarded by the data entry operator and increasingly, more frequently, by a voice response unit to the authorized service center which creates a check draft payable to the driver, endorsed to the service center.