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Technology Stocks : CheckFree (CKFR)

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To: Brian K Crawford who wrote (353)	8/18/1997 8:36:00 PM
From: Sweet Ol	of 8545

Brian, I have a couple of concerns and questions. First off, let's look at it from the consumers standpoint. I have a problem with the notion of people paying $.75-$1.00 per bill to pay them electronically. A stamp is $.32, I think average check charges are about $.05, and most of the billers give you the envelope. So your costs are about $.37. Why will very many people pay twice as much for the service. What am i missing here? I have heard that CKFR actually has to write a lot of checks because many of the billers are not set up for electronic settlement. This has to be a big cost. When E-bill starts to build, and more of the total volume comes from big billers who can accept electronic transfer, then CKFR's costs will go down. It would be very much their modus operandi for Microsoft to come in with a cheap price to build market share and get the volumes to the point where it is profitable. Look at what they did with Internet Explorer, they give it away to get into the Internet market. I think that is a real risk. Does anyone have any thoughts on how CHFR would combat that situation? Just call me confused! jrh Writing checks instead of electronic settlement.

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