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HERNDON, Va. - Cardenas Supermarkets has adopted Paycheck Secure from Herndon, Va.-based BioPay LLC to stop check-cashing fraud and drive revenue for its stores throughout southern California. The announcement comes on the heels of a deal BioPay recently signed with Texas-based Lopez Supermarkets.
Steve Vallance, general manager at Cardenas Supermarkets, said the technology has been rolled out to all its stores and is expected to have a positive impact on the company's extensive check cashing operations.
Paycheck Secure is a voluntary system that uses biometrics to track a customer's check cashing history. If the person is associated with any negative transactions, advanced alert mechanisms warn the clerk, enabling the transaction to be declined before it is processed saving the store money it may have otherwise lost.
The check cashing system lets affiliated stores share customer information in real time. This allows store employees at every location to access a customer's enrollment information and check transaction history with a fingerprint scan.
Cardenas Supermarkets and Lopez Supermarkets serve predominately Hispanic communities, with each store offering popular check cashing services. Many of their customers are "unbanked" and use the chains' financial services as a means of cashing payroll checks, paying bills and meeting other monetary needs.