Hello All,
here are some excerpts from "Time digital"- a techno publication of TIME magazine-March 23rd issue.
Refer-pp60-65, "How Money will change". The article describes Peter Kight as a visionary.
It says:
"Checkfree's roster of partners include Merrill Lynch, Charles Schwab, wells Fargo and Chase. More than 2 million consumers use Checkfree's bill payment service(often w/o knowing it). (We all Know it here!!)
it further reads...
Now that Kight has made the checkbook nearly obsolete for millions of households, he is working to eliminate the paper trail altogether by letting consumers receive bills electronically. The concept, called " electronic bill presentment", promises to be one of the most significant advances in online banking. Microsoft has even started a rival service, but checkfree has an early lead, with chase and 22 merchants offering the service to their customers.
"I believe that by the middle of 2001, a third of the US will pay their bills electronically," says Kight, who notes that only 2 % of households do so today.(exponential growth IMHO). he believes many people who like the idea of paying bills online are hedging because current electronic offerings are not fully automated. " for everyone who's using electronic bill payment at a bank today," he says "there are 10 people who will move from paper to electronic once they are able to receive the bill electronically.
While Kight sees a bright future for his ideas, he concedes that about a third of all consumers won't want to make a switch. However, he thonks that 2/3 of US market is large enough for him.
-I scooped up 2000 more shares on friday at 21 5/8, after reading this. Let's see some action this week on upcoming news in April!!
-Long live bull markets.
Checkfree lover,
Kalpesh |
