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Technology Stocks : CheckFree (CKFR)
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To: Benny Baga who wrote (2184)3/2/1998 12:33:00 PM
From: jjs_ynot   of 8545
 
It's "free" to banks since they are no in the loop.
The bill goes to MSFDC consolidation network. Customer
authorizes the payment on MSFDC sight. MSFDC goes to collect
aggregate amount from the bank or brokerage or wherever
the consumer indicates as the source of funds. A debit into
the system just like an ATM debit or electronic check guarantee.
The banks are merely one source of payment funds in this
configuration IMO.
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