MONERIS SOLUTIONS REDUCES THE RISK OF CHECK ACCEPTANCE WITH ENHANCED ELECTRONIC CHECK SERVICES

CHICAGO, IL, August 9, 2004 –Moneris Solutions, one of North America’s largest electronic transaction processors, today announced the delivery of enhanced electronic check services. Moneris combines check services with traditional credit and debit services so that merchants only need to manage one relationship for all their payment collection needs.

“With the increasing momentum toward Check 21, merchants are looking for a check service that reduces the risk of check acceptance and simplifies the transition from paper to electronic check processing,” said Larry Wine, president of Moneris Solutions U.S. Group.

“Merchants are moving to electronic check conversion on different time tables. Many are looking for the convenience and cost savings of electronic check conversion using the same technology used for credit and debit. From check conversion to guarantee, Moneris has the solution for whatever the merchant’s check payment goals may be,” continued Wine.

Checks continue to be an important method of payment in the United States. In 2002, customers wrote more than 19 billion checks at the point of sale. To make check processing faster and more efficient, Moneris, through an agreement with Electronic Clearing House (Nasdaq: ECHO) to provide Visa POS Check Service to Moneris merchants, offers a variety of electronic check services:

Check Conversion: With this solution, paper checks are immediately converted into an electronic transaction, the voided paper check is returned to customers at the point of sale, and the check transaction is processed electronically for the merchant. With electronic check conversion, merchants experience the benefits of a faster and more efficient checkout process and increased cash flow through the automation of the check process.

Check Conversion with Verification:  Through integration with multiple comprehensive national databases that are updated on a daily basis, Moneris can verify the check transaction before the consumer leaves the merchant location.

Check Conversion with Guarantee: Guarantee services allow the merchant to accept check payments with the same level of confidence as cash. The guarantor will take the risk on behalf of the merchant for all checks deposited.

Check Recovery: With Check Recovery, the merchant simply outsources their collection of bad checks. In most cases, the merchant will receive 100% of the face-value of the check, when collected by the third party.

In addition to check services, Moneris Solutions delivers point-of-sale hardware, proprietary software, e-commerce solutions, Web-based financial reporting, and the necessary services and support so that merchants can be equipped to accept credit and debit cards. In addition to payment processing solutions, Moneris also offers gift and loyalty programs.

About Moneris Solutions
Moneris Solutions ( www.monerisusa.com) has a 30-year history as one of North America’s largest electronic transaction processors, delivering advanced payment card processing capabilities through point-of-sale hardware, payment processing software, e-commerce solutions and a gift and loyalty program. Moneris provides transaction-processing services nationwide through numerous agent banks and serves the small to medium-sized business market through direct sales and strategic partnerships. A joint investment of the Royal Bank of Canada and the Bank of Montreal, which have assets in excess of $700 billion, Moneris Solutions serves more than 350,000 North American merchant locations and has a staff of over 1,100 employees. U.S. headquarters are located outside of Chicago, IL.

About Electronic Clearing House, Inc. (ECHO)
ECHO (www.echo-inc.com), a leading provider of electronic payment and transaction processing services, provides a complete solution to the payment processing needs of merchants, banks and collection agencies. ECHO’s services include debit and credit card processing, check guarantee, check verification, check conversion, check re-presentment, and check collection.