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SVPCO sets monthly items dollar value records
NEW YORK (7/15/08)--SVPCO, the paper and electronic check exchange business of The Clearing House Payments Company LLC, announced Monday that its image payment network set records for monthly items and dollar value last month. Average daily volume was 22.4 million items, an increase of 115% compared with last year. The network processed 470.9 million check images, a 115% increase compared with last year. Dollar value was $773.8 billion, a 88.2% increase from last year. “Exchanges of items for non-network financial institutions are a new source of volume and they are expected to continue growing strongly for the remainder of 2008,” said Susan Long, The Clearing House senior vice president. “The network’s capacity to handle transit items is another way institutions are leveraging the power of the nation’s leading image exchange network to reduce paper check processing costs.”


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