CheckAlt Buys Business Unit From Diebold

Los Angeles-based payment processing technology developer CheckAlt, which is led by Shai Stern, said this morning that it has acquired a subsidiary of Diebold, in the area of item and payment processing. Financial terms of the buy were not disclosed. CheckAlt said it acquired Diebold's ERAS subsidiary, which provides item and payment processing solutions for regional banks, community banks and credit unions. The company said the move will help extend its imaging and item processing capabilities. ERAS is based in Miami, Florida. CheckAlt provides e-check, remote deposit capture, mobile payments, and many other services to financial institutions.