HERNDON, Va., March 29 /PRNewswire/ -- Biometric payments leader BioPay,
LLC announced today that BI-LO's recent implementation of Paycheck Secure(R)
has helped BI-LO supermarkets substantially reduce check cashing fraud at 176
of its supermarket locations throughout Georgia, North Carolina, South
Carolina and Tennessee. Paycheck Secure(R) is the nation's leading electronic
biometric identification check cashing system.
BI-LO has been using Paycheck Secure since November 2003, and has seen its
losses from fraudulent checks reduced by more than 60%. The company has used
Paycheck Secure to successfully complete nearly 100,000 check cashing
transactions worth more than $21 million dollars. Nearly 40,000 BI-LO
customers are now enrolled in Paycheck Secure.
"Our expectations have been met ... and exceeded," said James Wiles, BI-LO
Loss Prevention Director. "In a short period, BioPay and Paycheck Secure have
delivered on reducing fraudulent check losses, and you can't ask for better
"BI-LO has taken a major step by being one of the first large supermarket
chains to use biometrics to fight fraud. As a result, they are winning the
battle against fraud and driving check fraud out of their stores," said Tim
Robinson, President, BioPay.
BI-LO, with headquarters in Mauldin, SC, operates nearly 300 supermarkets
in the Carolinas, Georgia and Tennessee, and employs 22,000 associates. BI-LO
believes offering safe, wholesome, high-quality foods in clean, modern and
attractive stores is the foundation for consumer confidence and loyalty.
Since 1999, BioPay(R) has been providing smart, secure methods for
processing financial transactions. Its Paycheck Secure(R) systems help
businesses substantially reduce fraud and give consumers a convenient method
for cashing checks. BioPay's payment service offers merchants a low-cost form
of customer payment and gives consumers a secure, fast and convenient way to
pay for purchases. BioPay's patent-pending systems for merchants, banks and
financial service organizations have been implemented across the nation.
BioPay's value to consumers and merchants has created the nation's largest
commercial electronic biometric database. For more information on BioPay and
its market-leading products please visit www.biopay.com.
SOURCE BioPay, LLC