TARRYTOWN, N.Y., June 16, 2011 (GLOBE NEWSWIRE) -- Debt Resolve, Inc. (OTCBB:DRSV) (the "Company") announced that Regal Technologies LLC, a provider of leading payment management solutions, and Debt Resolve have entered a marketing partnership where Regal will market DR Settle™ and DR Prevent™ to its clients. Debt Resolve will market Regal's payment processing solutions to its clients and new relationships.
David Rainey, Debt Resolve's President and CFO, stated, "We have come to know the Regal team through our business partner e-complish, which is affiliated with Regal. e-complish and Regal together provide leading payment solutions to their clients, both web and IVR based. We look forward to Regal marketing our solutions to their clients and are pleased to be able to have a strong partner for payment processing for our clients."
"The joint marketing partnership of Debt Resolve and Regal Technologies truly is a perfect fit. By providing the integrated Regal payment processing solutions with Debt Resolve's online bidding system, we can shorten individual agencies' implementation from weeks to days. Every day the collection industry delays offering consumers a web based payment and settlement solution is lost revenue for the industry and lost savings for the consumer," stated Mike Cassella, Debt Resolve's Chief Operating Officer. "To partner with such an industry leader as Regal Technologies advances our efforts to speed up the adoption on the Debt Resolve system through an extremely strong partnership network."
Donald Pette, Jr., Regal's General Partner, stated, "We are very excited to offer a truly unique product offering to our clients. The multi-level bidding process provided by Debt Resolve's online and patented solution is a truly powerful tool. You include that with our payment gateway and now we have a truly automated negotiation and payment processing tool. Our clients are looking for an on-line debt negotiation system that includes multi-round negotiation with down payments and acceptance of future dated payments at time of negotiation. Other systems that we have looked at are single round negotiation systems and may or may not require a down payment or a series of future dated payments. Collecting promises means nothing, but working together with Debt Resolve I believe that we have the most advanced debt negotiation and payment acceptance product on the market. We look forward to being the future of payments for all industries that need or want to automate debt negotiation and payment acceptance."
About Debt Resolve, Inc.
Debt Resolve provides a patent-protected online bidding system and earlier stage options for the resolution and settlement of consumer debt. The power of the patent protected system is demonstrated in simple statistics: over 50% of registered users reach a settlement online with an average settlement 14% above the minimum settlement level. When the updated information for registered but not settled consumers is passed back to the servicer, the settlement rate jumps to over 73% of registered users settled. The convenience of the Debt Resolve solutions is proven in the fact that over 20% of consumers reach an agreement outside of regulated collection hours.
Debt Resolve offers the only patented online bidding platform to lenders, debt buyers, collection agencies, collection law firms and hospitals as well as a collections and skip tracing solution that is effective at every stage of collection and recovery. The company also provides web-based payment platforms for the financial and healthcare industries. The company is publicly held and trades on the OTC Bulletin Board under the symbol DRSV. Debt Resolve is headquartered in Tarrytown, New York. For more information, visit http://www.b2i.us/irpass.asp?BzID=1976&to=ea&s=0.
About Regal Technologies, LLC.
Regal Technologies, LLC is a privately owned corporation with primary offices in the Washington DC and Baltimore, MD metropolitan areas. Regal provides payment processing services such as ACH, pin and pinless debit card, Secure Vault Payment™ and credit card processing, check verification, paper demand draft checks, internet payment gateways, online payment acceptance web services, developer API web payment interfaces, automated interactive voice response telephone payment systems, and in-house programming and consultation services for customized solutions. Our mission is to provide secure, reliable enterprise level payment processing products and services that create immediate return on investment. With proactive technical support and thousands of users, Regal Technologies has positioned itself to become a first choice payment processing platform for any industry. For more information visit www.regaltek.com.
Forward Looking Statements
Certain statements in this press release and elsewhere by management of the Company that are neither reported financial results nor other historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of the Company's operations. Debt Resolve undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Investors are advised to consult any further disclosures made on related subjects in the Company's reports filed with the SEC. For more information, visit http://www.b2i.us/irpass.asp?BzID=1976&to=ea&s=0.