Billserv signs AFSA for bill payment of student loans. These guys are taking control of the whole college billing market. I wonder if they will use the same strategy with other sub sectors like (gas cards).
Monday December 20, 8:16 am Eastern Time
Company Press Release
billserv.com, AFSA Data Corporation Sign Customer Agreement to Provide Electronic Bill Presentment and Payment Solution for Student Loans
SAN ANTONIO--(BUSINESS WIRE)--Dec. 20, 1999--billserv.com, Inc. (NASD OTC BB: BLLS), a leading electronic bill presentment and payment (EBPP) service bureau, today announced it has entered into a customer agreement with AFSA Data Corporation to provide electronic bill presentment and payment services for AFSA, the nation's largest student loan servicing company.
billserv.com's EBPP services will enable AFSA's customers to view their bills and make student loan payments online, creating a convenient and efficient bill payment method. AFSA processes more than 27 million loan payments annually.
Headquartered in Long Beach, Calif., AFSA provides student loan management services to institutions of higher education, lenders, secondary markets and the federal government.
``AFSA is pleased to offer borrowers EBPP to help facilitate repayment of their loans,' said Steven E. Snyder, president of AFSA Data Corporation. ``We aim to give borrowers a wide range of repayment options to fit their diverse needs and desires. Our relationship with billserv.com is a significant milestone in accomplishing that objective.'
``The education market represents an important and strategic segment for the continued adoption of electronic billing, and we're excited to be working with AFSA for its EBPP system,' said Michael Long, chairman and CEO of billserv.com. ``AFSA represents another strategic customer relationship that will help strengthen our growing base of billers who are reaching out to consumers who want to receive and pay their bills online.'
Through its formal relationships with all major EBPP consolidators, including CheckFree Corporation, TransPoint and Bank of America, billserv.com will enable AFSA customers to view and make loan payments at a wide variety of front-ends. The EBPP system is expected to be available to AFSA customers in March 2000, following a one-month pilot phase.
About AFSA Data Corporation
AFSA Data Corporation is the nation's largest and most experienced student loan management company servicing a portfolio of more than 7 million borrowers in the Federal Perkins, Federal Family Education and Federal Direct programs with a value of $59 billion. As a wholly owned subsidiary of FleetBoston Financial, a $185 billion bank holding company headquartered in Boston, Massachusetts, AFSA distinctively combines the resources of a leading financial institution with a management team bringing decades of experience in the student loan servicing industry.
About billserv.com
billserv.com, Inc. (NASD OTC BB: BLLS) is an electronic bill presentment and payment service bureau that provides middle-market billers with a turnkey outsourcing solution for presenting bills to consumers for payment on the Internet. billserv.com serves an intermediary role between billers and bill aggregators by consolidating customer billing information from multiple billers, and then securely delivering it to aggregators. billserv.com has four product offerings: (eServSM), Internet billing clearinghouse services for EBPP; (ePublishingSM), electronic publishing services for online statement delivery; (eCareSM), an interactive customer care center operation; and (eConsultingSM), professional consulting services for billing organizations offering in-house bill presentment. billserv.com also owns and develops bills.com, the first EBPP Internet portal where consumers can pay all their bills electronically. For additional information, visit billserv.com or call (210) 402-5000.
Certain statements contained herein are ``forward-looking' statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
Contact:
Media Relations Contacts:
Jeff Davis or Kevin Manniko
Davis.Comm Inc. (for billserv.com)
(415) 837-3939
jdavis@daviscomm.com
kmanniko@daviscomm.com
or
Investor Relations Contact:
Jack Roney
billserv.com
(210) 402-5160
jack.roney@billserv.com
Stock Symbol: NASD OTC: BLLS
Investor inquires: (888) 559-4184 |
