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Technology Stocks : CheckFree (CKFR)

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To: Charlie Smith who wrote (377)	8/25/1997 11:08:00 AM
From: Gregg Soster	of 8545

Good reasoning, I would add that presentment and payment are two halfs of the whole. Just saying, "Thanks for the bill, I'll mail a check later", is clearly short of finally eliminating paper. One of CheckFree's greatest assets is the ability to streamline the flow of remittance and payment. All those connections to a merchant's remittance center reduces the cost of accepting payment. Secondly, if a merchant would allow a customer to recieve an E-Bill but not allow electronic payment where is the convenience, savings, benefits to the consumer? The end-game for the consumer is to spend less time and resource on the mundane task of opening bills and paying bills and maintaining a register of those transactions. CheckFree aggragates those tasks so simply that why would merchants want to do it themselves? Certainly not for cost reasons, the merchant would then have to process individual checks for payment rather than a electronic payment/remittance from CheckFree on behalf of thousands of customers. I would contend both merchants and consumer benefit significantly from CheckFree's E-Bill.

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