Article form Mar 97
CyberCash to Support CheckFree's New Bill Presentment Service
CyberCash will expand its existing relationship with CheckFree by supporting the E-Bill service
RESTON, Va. - March 5, 1997 -- CyberCash, Inc. (NASDAQ: CYCH), the leading developer of total Internet payment solutions
announced today that it is the first Internet payment provider to declare its support for CheckFree's (Nasdaq: CKFR) new Bill
Presentment service. CheckFree's new bill presentment service will allow financial institutions to offer utilities, phone companies and
other businesses the ability to present billing statements and consumers to pay their bills electronically over the Internet.
CyberCash will support participating financial institutions and billers by expanding its existing secure link with CheckFree to allow
users of its Electronic Wallet to also pay bills securely using CheckFree processing.
"CheckFree will provide the flexibility that banks and billers need to customize the presentation of statement data and provide the ability for consumers to pay either directly or utilizing their CyberCash Wallet ," said Mark Phelan, Executive Vice President, Business Development for CheckFree.
Billers and banks working with CheckFree will be able to issue a bank-branded Electronic Wallet from CyberCash. Customers
can use the Electronic Wallet to access their accounts for making bill payments through the new CheckFree service. The branding
of the Electronic Wallet provides the financial institutions and the billers with not only an advertising opportunity but also
reinforces their relationship with their customers, building trusts electronically and encouraging use of the new service. The customer
initiated payments for cash, check and credit will be delivered via CyberCash's secure technology and utilize CheckFree's clearing and
settlement system.
"We will continue to support CheckFree and build upon our existing relationship we announced in July of 1995 by linking CyberCash's suite of secure electronic payment solutions. to CheckFree's new bill presentment and settlement service," said Richard Crone, Vice President and General Manager for CyberCash.
Not sure as to what their relationship is as of today though.
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