Info Touch partners with IPP on bill payment centers
Info Touch Technologies Corp, Symbol: IFT on Vancouver
Shares issued 16,158,437 Mar 30 2004 close $ 1.02
Wednesday March 31 2004 News Release
Mr. Hamed Shahbazi reports:
Info Touch Technologies and IPP of America Inc., the United States leader in bill payment totalling services, have completed a partnership that significantly expands bill payment services through the Info Touch kiosk network. With this agreement, Info Touch links up with over 750 billers and vendors. IPP of America benefits from an entirely new kiosk-based sales channel to generate greater consumer awareness and access to its bill payment services.
The integration of IPP of America's bill payment technology into Info Touch's kiosk security and management software platform, will provide cash-paying customers with a convenient way to pay bills from a broad range of product and service providers, including large wireless and wireline Telco's cable and utility companies, as well as large retailers. Info Touch and IPP of America will share transactional revenues from per-transaction convenience fees paid by consumers. "Accepting payment from over 750 vendors significantly expands Info Touch's capacity to serve a wider customer profile across the United States and drive greater bottom-line benefits to its retail partner locations," said Hamed Shahbazi, chairman and chief executive officer of Info Touch Technologies." "We are excited to partner with Info Touch and their retail convenience store partners in empowering consumers across the U.S. with unprecedented convenience, ease of use, and accessibility in paying monthly bills and accessing cash-based automated services," commented Marvin Morris, IPP's chief executive officer and president.
According to a recent U.S. Federal Reserve bulletin, at least 28 per cent of the U.S. population is either unbanked or underbanked. These consumers pay in cash for their monthly utility and household bills. American consumers are increasingly adopting the benefits of self-serve automated kiosks for their bill payments in conveniently located areas such as shopping malls, convenience stores and service stations.
About IPP of America:
IPP of America, Inc. is a leading provider of electronic payment systems and technology solutions that enable cash-paying consumers to make bill payments and product purchases at their local community stores. The company's network currently extends to 27 states and over 2,800 locations nationwide. For more information visit www.ipppays.com. |
