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NEW YORK — CVS/pharmacy has implemented a check management system from ACI Worldwide Inc. that the technology provider said enables the drug chain to automate and lower the cost of check authorization.
ACI said Monday that CVS/pharmacy, part of CVS Caremark Corp., has deployed ACI Retail Commerce Server for Check Management in its 7,300-plus drug stores nationwide. The software replaces pharmacy chain’s paper-based check systems.
Retail Commerce Server authorizes check transactions locally based on the customer check-writing history and manages thresholds and velocity limits set with the application, instead of paying a third-party fee for each check authorized, ACI explained. The solution interfaces with third-party check guarantee processors to provide an extra layer of protection if required for customers with no prior check-writing history at CVS.
ACI noted that the Retail Commerce Server deployment for CVS, which serves approximately 5 million customers daily in its stores, is managed centrally by its ACI On Demand hosted service, which means that check management and collections can be updated down the road without impacting the stores.
"CVS/pharmacy explored a number of different solutions to solve its check authorization challenge, and I am delighted that the company selected Retail Commerce Server," stated Ralph Dangelmaier, president of global markets and services at ACI Worldwide. "The system is live today and delivering real benefits and savings every time it is used."
An integrated solution ACI Retail Commerce Server acquires, authenticates, routes, switches and authorizes financial transactions across multiple channels, supporting such traditional transactions as debit and credit cards at the point of sale as well as newer types of transactions such as online and mobile commerce.
