Michael Freitag is the Founder and President of ID Inc., upon graduating from the University of Connecticut with a Bachelor of Science degree he was recruited by Burroughs Corporation. Burroughs competed with IBM in the Commercial Bank market throughout New England. Banks wanted their freedom and by converting them from a service bureau to their own mainframe in house computer system gave them freedom. Mr Freitag provided 42 Financial Institutions with the freedom they desired.
Following Burroughs Mr Freitag accepted an offer to become Vice President of Marketing Development for Telecredit [NASDAQ]. Here he learned the payment service industry and combined his computer and data processing background to provide great gains in revenues for Telecredit which lead to their sale to Equifax [NYSE].
Following Equifax Mr Freitag built his own data center using STRATUS mainframes and Sequent servers in Clearwater Fl. Preferred Check Services provided merchants nationwide with check processing and ACH services. The next company created and founded was Commonwealth Credit Card Processing Inc. Commonwealth was a full BASE 1 and BASE 2 Visa ,Mastercard credit card processing center providing authorization and settlement under all the guidelines of a merchant acquiring Visa Mastercard Data Center. The companies provided services to many thousands of merchants from every state in the USA . Commonwealth Credit Card Processing Inc. was eventually sold. Mr Freitag accepted an offer from a public NYSE company and was required to enter in a 5-year non-competition agreement.
Since Preferred Check Service is based on Driver’s License entry at the point of sale it was the ideal experience for expanding the automation and the data processing advantages of the newly magnetically encoding Drivers licenses the states were producing. Hence ID Inc was founded. Id Inc is protecting Liquor Licenses held by the owners of Liquor stores, Bars, Restaurants, Night Clubs etc. located in every state in the USA. Mr Freitag is actively involved in the everyday needs of his customers today as President of ID Inc.