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Technology Stocks : CheckFree (CKFR)
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To: Charlie Smith who wrote (6299)7/26/1998 9:26:00 PM
From: micny  Read Replies (2) of 8545
 
"presentment" without an electronic payment is the last thing a biller wants. Without an electronic payment you've effectively given a consumer a bill without a stub for him to return, upon which you have put all the important information you need to process his payment. It is going to cause him to write a check upon which he will put either an incorrect acct number or nothing...then he'll search for an envelope and misaddress it or forget to put a stamp on it etc etc. You're creating massively ugly amounts of exception processing....and you'll be hated!! Or, in some cases he'll enter his payment in Quicken and process it ok. Unfortunately the former will happen all to often. Remember....the round trip is the killer app, not payment or presentment!

As for enlisting the support of banks, when checkfree signs a biller, it effectively reduces the need for "lockbox" processing service, which many lafge banks provide for many large billers. In doing so, you piss off the wholesale bankers.... wh often have more "juice" than the retail bankers. So, if you're smart, and CF is, you enlist the support opf the wholesale side of the bank for your services by providing them something they can take to their wholesale customers....bill presentment.

Better think through this direct to consumer strategy a little better.
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